[Congressional Record (Bound Edition), Volume 153 (2007), Part 1]
[Senate]
[Pages 1274-1289]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 59. Mr. COBURN submitted an amendment intended to be proposed to 
amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, Mrs. 
Feinstein, Mr. Bennett Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; as follows:

       Strike sections 108 and 109 and insert the following:

     SEC. 108. DISCLOSURE FOR GIFTS FROM LOBBYISTS.

       Paragraph 1(a) of rule XXXV of the Standing Rules of the 
     Senate is amended--
       (1) in clause (2), by striking the last sentence and 
     inserting ``Formal record keeping is required by this 
     paragraph as set out in clause (3).''; and
       (2) by adding at the end the following:
       ``(3)(A) Not later than 48 hours after a gift has been 
     accepted, each Member, officer, or employee shall post on the 
     Member's Senate website, in a clear and noticeable manner, 
     the following:
       ``(i) The nature of the gift received.
       ``(ii) The value of the gift received.
       ``(iii) The name of the person or entity providing the 
     gift.
       ``(iv) The city and State where the person or entity 
     resides.
       ``(v) Whether that person is a registered lobbyist, and if 
     so, the name of the client for whom the lobbyist is providing 
     the gift and the city and State where the client resides.
       ``(B) Not later than 30 days after the adoption of this 
     clause, the Committee on Rules and Administration shall, in 
     consultation with the Select Committee on Ethics and the 
     Secretary of the Senate, proscribe the uniform format by 
     which the postings in subclause (A) shall be established.''.

     SEC. 109. DISCLOSURE OF TRAVEL.

       Paragraph 2 of rule XXXV of the Standing Rules of the 
     Senate is amended by adding at the end the following:
       ``(h)(1) Not later than 48 hours after a Member, officer, 
     or employee has accepted transportation or lodging otherwise 
     permissible by the rules from any other person, other than a 
     governmental entity, such Member, officer, or employee shall 
     post on the Member's Senate website, in a clear and 
     noticeable manner, the following:
       ``(A) The nature and purpose of the transportation or 
     lodging.
       ``(B) The fair market value of the transportation or 
     lodging.
       ``(C) The name of the person or entity sponsoring the 
     transportation or lodging.
       ``(D) The city and State where the person or entity 
     sponsoring the transportation or lodging resides.
       ``(E) Whether that sponsoring person is a registered 
     lobbyist, and if so, the name of the client for whom the 
     lobbyist is sponsoring the transportation or lodging and the 
     city and State where the client resides.
       ``(2) This subparagraph shall also apply to all 
     noncommercial air travel otherwise permissible by the rules.
       ``(3) Not later than 30 days after the adoption of this 
     subparagraph, the Committee on Rules and Administration 
     shall, in consultation with the Select Committee on Ethics 
     and the Secretary of the Senate, proscribe the uniform format 
     by which the postings in clauses (1) and (2) shall be 
     established.''.
                                 ______
                                 
  SA 60. Mrs. FEINSTEIN submitted an amendment intended to be proposed 
by her to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:
       On page 61, after line 20, add the following:

     SEC. 271. VACANCIES.

       Section 546 of title 28, United States Code, is amended to 
     read as follows:

     ``Sec. 546. Vacancies

       ``The United States district court for a district in which 
     the office of the United States attorney is vacant may 
     appoint a United States attorney to serve until that vacancy 
     is filled. The order of appointment by the court shall be 
     filed with the clerk of the court.''.
                                 ______
                                 
  SA 61. Mr. CARPER submitted an amendment intended to be proposed by 
him to the bill S. 1, to provide greater transparency in the 
legislative process;

[[Page 1275]]

which was ordered to lie on the table; as follows:

       At the end, add the following:

      TITLE III--BUDGET ENFORCEMENT LEGISLATIVE TOOLS ACT OF 2007

     SEC. 301. SHORT TITLE.

       This title may be cited as the ``Budget Enforcement 
     Legislative Tools Act of 2007''.

     SEC. 302. EXPEDITED CONSIDERATION OF CERTAIN PROPOSED 
                   RESCISSIONS.

       (a) In General.--Part B of title X of the Congressional 
     Budget and Impoundment Control Act of 1974 (2 U.S.C. 681 et 
     seq.) is amended by redesignating sections 1013 through 1017 
     as sections 1014 through 1018, respectively, and inserting 
     after section 1012 the following new section:


       ``EXPEDITED CONSIDERATION OF CERTAIN PROPOSED RESCISSIONS

       ``Sec. 1013.  (a) Proposed Rescission of Discretionary 
     Budget Authority and Targeted Tax Benefits.--In addition to 
     the method of rescinding discretionary budget authority 
     specified in section 1012, the President may propose, at the 
     time and in the manner provided in subsection (b), the 
     rescission of any discretionary budget authority provided in 
     an appropriations Act or a targeted tax benefit provided in a 
     revenue Act. Funds made available for obligation under this 
     procedure may not be proposed for rescission again under this 
     section or section 1012.
       ``(b) Transmittal of Special Message.--
       ``(1) Not later than 3 days after the date of enactment of 
     an appropriations Act or revenue Act subject to rescission 
     under this section, the President may transmit to Congress a 
     special message proposing to rescind amounts of discretionary 
     budget authority provided in that Act or cancel the targeted 
     tax benefit and include with that special message a draft 
     bill or joint resolution that, if enacted, would only rescind 
     that discretionary budget authority or cancel the targeted 
     tax benefit.
       ``(2) In the case of an Act that includes accounts within 
     the jurisdiction of more than one subcommittee of the 
     Committee on Appropriations, the President in proposing to 
     rescind discretionary budget authority or cancel a targeted 
     tax benefit under this section shall send a separate special 
     message and accompanying draft bill or joint resolution for 
     accounts within the jurisdiction of each such subcommittee.
       ``(3) Each special message shall specify, with respect to 
     the discretionary budget authority proposed to be rescinded, 
     the matters referred to in paragraphs (1) through (5) of 
     section 1012(a).
       ``(c) Limitation on Amounts Subject to Rescission.--
       ``(1) The amount of discretionary budget authority which 
     the President may propose to rescind in a special message 
     under this section for a particular program, project, or 
     activity for a fiscal year may not exceed 25 percent of the 
     amount appropriated for that program, project, or activity in 
     that Act.
       ``(2) The limitation contained in paragraph (1) shall only 
     apply to a program, project, or activity that is authorized 
     by law.
       ``(d) Procedures for Expedited Consideration.--
       ``(1)(A) Before the close of the second day of continuous 
     session of the applicable House after the date of receipt of 
     a special message transmitted to Congress under subsection 
     (b), the majority leader or minority leader of the House of 
     Congress in which the Act involved originated shall introduce 
     (by request) the draft bill or joint resolution accompanying 
     that special message. If the bill or joint resolution is not 
     introduced as provided in the preceding sentence, then, on 
     the third day of continuous session of that House after the 
     date of receipt of that special message, any Member of that 
     House may introduce the bill or joint resolution.
       ``(B) The bill or joint resolution shall be referred to the 
     Committee on Appropriations of that House or the Committee on 
     Finance of the Senate and the Committee on Ways and Means of 
     the House, as appropriate. The committee shall report the 
     bill or joint resolution without substantive revision and 
     with or without recommendation. The bill or joint resolution 
     shall be reported not later than the seventh day of 
     continuous session of that House after the date of receipt of 
     that special message. If the committee fails to report the 
     bill or joint resolution within that period, that committee 
     shall be automatically discharged from consideration of the 
     bill or joint resolution, and the bill or joint resolution 
     shall be placed on the appropriate calendar.
       ``(C) A vote on final passage of the bill or joint 
     resolution shall be taken in that House on or before the 
     close of the 10th calendar day of continuous session of that 
     House after the date of the introduction of the bill or joint 
     resolution in that House. If the bill or joint resolution is 
     agreed to, the Clerk of the House of Representatives (in the 
     case of a bill or joint resolution agreed to in the House of 
     Representatives) or the Secretary of the Senate (in the case 
     of a bill or joint resolution agreed to in the Senate) shall 
     cause the bill or joint resolution to be engrossed, 
     certified, and transmitted to the other House of Congress on 
     the same calendar day on which the bill or joint resolution 
     is agreed to.
       ``(2)(A) A bill or joint resolution transmitted to the 
     House of Representatives or the Senate pursuant to paragraph 
     (1)(C) shall be referred to the Committee on Appropriations 
     of that House or the Committee on Finance of the Senate and 
     the Committee on Ways and Means of the House, as appropriate. 
     The committee shall report the bill or joint resolution 
     without substantive revision and with or without 
     recommendation. The bill or joint resolution shall be 
     reported not later than the seventh day of continuous session 
     of that House after it receives the bill or joint resolution. 
     A committee failing to report the bill or joint resolution 
     within such period shall be automatically discharged from 
     consideration of the bill or joint resolution, and the bill 
     or joint resolution shall be placed upon the appropriate 
     calendar.
       ``(B) A vote on final passage of a bill or joint resolution 
     transmitted to that House shall be taken on or before the 
     close of the 10th calendar day of continuous session of that 
     House after the date on which the bill or joint resolution is 
     transmitted. If the bill or joint resolution is agreed to in 
     that House, the Clerk of the House of Representatives (in the 
     case of a bill or joint resolution agreed to in the House of 
     Representatives) or the Secretary of the Senate (in the case 
     of a bill or joint resolution agreed to in the Senate) shall 
     cause the engrossed bill or joint resolution to be returned 
     to the House in which the bill or joint resolution 
     originated.
       ``(3)(A) A motion in the House of Representatives to 
     proceed to the consideration of a bill or joint resolution 
     under this section shall be highly privileged and not 
     debatable. An amendment to the motion shall not be in order, 
     nor shall it be in order to move to reconsider the vote by 
     which the motion is agreed to or disagreed to.
       ``(B) Debate in the House of Representatives on a bill or 
     joint resolution under this section shall not exceed 4 hours, 
     which shall be divided equally between those favoring and 
     those opposing the bill or joint resolution. A motion further 
     to limit debate shall not be debatable. It shall not be in 
     order to move to recommit a bill or joint resolution under 
     this section or to move to reconsider the vote by which the 
     bill or joint resolution is agreed to or disagreed to.
       ``(C) Appeals from decisions of the Chair relating to the 
     application of the Rules of the House of Representatives to 
     the procedure relating to a bill or joint resolution under 
     this section shall be decided without debate.
       ``(D) Except to the extent specifically provided in the 
     preceding provisions of this subsection, consideration of a 
     bill or joint resolution under this section shall be governed 
     by the Rules of the House of Representatives.
       ``(4)(A) A motion in the Senate to proceed to the 
     consideration of a bill or joint resolution under this 
     section shall be privileged and not debatable. An amendment 
     to the motion shall not be in order, nor shall it be in order 
     to move to reconsider the vote by which the motion is agreed 
     to or disagreed to.
       ``(B) Debate in the Senate on a bill or joint resolution 
     under this section, and all debatable motions and appeals in 
     connection therewith, shall not exceed 10 hours. The time 
     shall be equally divided between, and controlled by, the 
     majority leader and the minority leader or their designees.
       ``(C) Debate in the Senate on any debatable motion or 
     appeal in connection with a bill or joint resolution under 
     this section shall be limited to not more than 1 hour, to be 
     equally divided between, and controlled by, the mover and the 
     manager of the bill or joint resolution, except that in the 
     event the manager of the bill or joint resolution is in favor 
     of any such motion or appeal, the time in opposition thereto, 
     shall be controlled by the minority leader or his designee. 
     Such leaders, or either of them, may, from time under their 
     control on the passage of a bill or joint resolution, allot 
     additional time to any Senator during the consideration of 
     any debatable motion or appeal.
       ``(D) A motion in the Senate to further limit debate on a 
     bill or joint resolution under this section is not debatable. 
     A motion to recommit a bill or joint resolution under this 
     section is not in order.
       ``(e) Amendments Prohibited.--No amendment to a bill or 
     joint resolution considered under this section shall be in 
     order in either the House of Representatives or the Senate. 
     No motion to suspend the application of this subsection shall 
     be in order in either House, nor shall it be in order in 
     either House to suspend the application of this subsection by 
     unanimous consent.
       ``(f) Requirement To Make Available or Effective Date.--
       ``(1) Obligation of budget authority.--Any amount of 
     discretionary budget authority proposed to be rescinded in a 
     special message transmitted to Congress under subsection (b) 
     shall be made available for obligation on the day after the 
     date on which either House defeats the bill or joint 
     resolution transmitted with that special message.
       ``(2) Targeted tax benefit.--A targeted tax benefit 
     proposed to be cancelled in a special message transmitted to 
     Congress under subsection (b) shall take effect on the day 
     after the date on which either House defeats the bill or 
     joint resolution transmitted with

[[Page 1276]]

     that special message or on the effective date of that 
     targeted tax benefit, whichever date is later.
       ``(g) Definitions.--For purposes of this section--
       ``(1) continuity of a session of either House of Congress 
     shall be considered as broken only by an adjournment of that 
     House sine die, and the days on which that House is not in 
     session because of an adjournment of more than 3 days to a 
     date certain shall be excluded in the computation of any 
     period;
       ``(2) the term `discretionary budget authority' means the 
     dollar amount of discretionary budget authority and 
     obligation limitations--
       ``(A) specified in an appropriation law, or the dollar 
     amount of budget authority required to be allocated by a 
     specific proviso in an appropriation law for which a specific 
     dollar figure was not included;
       ``(B) represented separately in any table, chart, or 
     explanatory text included in the statement of managers or the 
     governing committee report accompanying such law;
       ``(C) required to be allocated for a specific program, 
     project, or activity in a law (other than an appropriation 
     law) that mandates obligations from or within accounts, 
     programs, projects, or activities for which budget authority 
     or an obligation limitation is provided in an appropriation 
     law;
       ``(D) represented by the product of the estimated 
     procurement cost and the total quantity of items specified in 
     an appropriation law or included in the statement of managers 
     or the governing committee report accompanying such law; or
       ``(E) represented by the product of the estimated 
     procurement cost and the total quantity of items required to 
     be provided in a law (other than an appropriation law) that 
     mandates obligations from accounts, programs, projects, or 
     activities for which dollar amount of discretionary budget 
     authority or an obligation limitation is provided in an 
     appropriation law; and
       ``(3) the term `targeted tax benefit' means only those 
     provisions having the practical effect of providing more 
     favorable tax treatment to a particular taxpayer or limited 
     group of taxpayers when compared with other similarly 
     situated taxpayers.''.
       (b) Exercise of Rulemaking Powers.--Section 904 of such Act 
     (2 U.S.C. 621 note) is amended--
       (1) by striking ``and 1017'' in subsection (a) and 
     inserting ``1013, and 1018''; and
       (2) by striking ``section 1017'' in subsection (d) and 
     inserting ``sections 1013 and 1018''; and
       (c) Conforming Amendments.--
       (1) Section 1011 of such Act (2 U.S.C. 682(5)) is amended--
       (A) in paragraph (4), by striking ``1013'' and inserting 
     ``1014''; and
       (B) in paragraph (5)--
       (i) by striking ``1016'' and inserting ``1017''; and
       (ii) by striking ``1017(b)(1)'' and inserting 
     ``1018(b)(1)''.
       (2) Section 1015 of such Act (2 U.S.C. 685) (as 
     redesignated by section 2(a)) is amended--
       (A) by striking ``1012 or 1013'' each place it appears and 
     inserting ``1012, 1013, or 1014'';
       (B) in subsection (b)(1), by striking ``1012'' and 
     inserting ``1012 or 1013'';
       (C) in subsection (b)(2), by striking ``1013'' and 
     inserting ``1014''; and
       (D) in subsection (e)(2)--
       (i) by striking ``and'' at the end of subparagraph (A);
       (ii) by redesignating subparagraph (B) as subparagraph (C);
       (iii) by striking ``1013'' in subparagraph (C) (as so 
     redesignated) and inserting ``1014''; and
       (iv) by inserting after subparagraph (A) the following new 
     subparagraph:
       ``(B) he has transmitted a special message under section 
     1013 with respect to a proposed rescission; and''.
       (3) Section 1016 of such Act (2 U.S.C. 686) (as 
     redesignated by section 2(a)) is amended by striking ``1012 
     or 1013'' each place it appears and inserting ``1012, 1013, 
     or 1014''.
       (d) Clerical Amendments.--The table of sections for subpart 
     B of title X of such Act is amended--
       (1) by redesignating the items relating to sections 1013 
     through 1017 as items relating to sections 1014 through 1018; 
     and
       (2) by inserting after the item relating to section 1012 
     the following new item:

``Sec. 1013. Expedited consideration of certain proposed rescissions''.

       (e) Application.--Section 1013 of the Congressional Budget 
     and Impoundment Control Act of 1974 (as added by subsection 
     (c)) shall apply to amounts of discretionary budget authority 
     provided by appropriation Acts (as defined in subsection 
     (g)(2) of such section) and targeted tax benefits in revenue 
     Acts that are enacted after the date of the enactment of this 
     Act.

     SEC. 303. PAY-AS-YOU-GO POINT OF ORDER IN THE SENATE.

       (a) Pay-as-You-Go Point of Order in the Senate.--
       (1) In general.--For purposes of Senate enforcement, it 
     shall not be in order in the Senate to consider any direct 
     spending or revenue legislation that would increase the on-
     budget deficit or cause an on-budget deficit for any one of 
     the 4 applicable time periods as measured in paragraphs (5) 
     and (6).
       (2) Applicable time periods.--For purposes of this 
     subsection, the term ``applicable time periods'' means any 1 
     of the 4 following periods:
       (A) The current year.
       (B) The budget year.
       (C) The period of the 5 fiscal years following the current 
     year.
       (D) The period of the 5 fiscal years following the 5 fiscal 
     years referred to in subparagraph (C).
       (3) Direct-spending legislation.--For purposes of this 
     subsection and except as provided in paragraph (4), the term 
     ``direct-spending legislation'' means any bill, joint 
     resolution, amendment, motion, or conference report that 
     affects direct spending as that term is defined by, and 
     interpreted for purposes of, the Balanced Budget and 
     Emergency Deficit Control Act of 1985.
       (4) Exclusion.--For purposes of this subsection, the terms 
     ``direct-spending legislation'' and ``revenue legislation'' 
     do not include--
       (A) any concurrent resolution on the budget; or
       (B) any provision of legislation that affects the full 
     funding of, and continuation of, the deposit insurance 
     guarantee commitment in effect on the date of enactment of 
     the Budget Enforcement Act of 1990.
       (5) Baseline.--Estimates prepared pursuant to this section 
     shall--
       (A) use the baseline surplus or deficit used for the most 
     recently adopted concurrent resolution on the budget; and
       (B) be calculated under the requirements of subsections (b) 
     through (d) of section 257 of the Balanced Budget and 
     Emergency Deficit Control Act of 1985 for fiscal years beyond 
     those covered by that concurrent resolution on the budget.
       (6) Prior surplus.--If direct spending or revenue 
     legislation increases the on-budget deficit or causes an on-
     budget deficit when taken individually, it must also increase 
     the on-budget deficit or cause an on-budget deficit when 
     taken together with all direct spending and revenue 
     legislation enacted since the beginning of the calendar year 
     not accounted for in the baseline under paragraph (5)(A), 
     except that direct spending or revenue effects resulting in 
     net deficit reduction enacted pursuant to reconciliation 
     instructions since the beginning of that same calendar year 
     shall not be available.
       (b) Waiver.--This section may be waived or suspended in the 
     Senate only by the affirmative vote of three-fifths of the 
     Members, duly chosen and sworn.
       (c) Appeals.--Appeals in the Senate from the decisions of 
     the Chair relating to any provision of this section shall be 
     limited to 1 hour, to be equally divided between, and 
     controlled by, the appellant and the manager of the bill or 
     joint resolution, as the case may be. An affirmative vote of 
     three-fifths of the Members of the Senate, duly chosen and 
     sworn, shall be required to sustain an appeal of the ruling 
     of the Chair on a point of order raised under this section.
       (d) Determination of Budget Levels.--For purposes of this 
     section, the levels of new budget authority, outlays, and 
     revenues for a fiscal year shall be determined on the basis 
     of estimates made by the Committee on the Budget of the 
     Senate.
       (e) Sunset.--This section shall expire on September 30, 
     2012.

     SEC. 304. TERMINATION.

       The authority provided by section 1013 of the Congressional 
     Budget and Impoundment Control Act of 1974 (as added by 
     section 2) shall terminate effective on the date in 2010 on 
     which the Congress adjourns sine die.
                                 ______
                                 
  SA 62. Ms. LANDRIEU submitted an amendment intended to be proposed by 
her to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. SENIOR CONGRESSIONAL SERVICE.

       (a) Study and Report.--The General Accountability Office, 
     in consultation with the Congressional Management Foundation, 
     shall conduct a study and prepare a report relating to--
       (1) the need for establishing a Senior Congressional 
     Service, similar to the Senior Executive Service in the 
     executive branch, in order to promote the recruitment and 
     retention of highly competent senior congressional staff;
       (2) the design of a Senior Congressional Service, 
     including--
       (A) criteria for identifying the types of personnel or 
     positions which would be appropriate for inclusion;
       (B) appropriate levels or ranges of basic pay; and
       (C) any special allowances, opportunities for professional 
     development, and other conditions of employment which would 
     be appropriate;
       (3) any other recommendations, including proposed 
     legislation, necessary for the establishment of a Senior 
     Congressional Service; and
       (4) any other measure which would increase retention rates 
     for highly qualified congressional staff and diminish 
     revolving door patterns of employment between Congress and 
     lobbying firms.

[[Page 1277]]

       (b) Submission of Report.--Not later than 180 days after 
     the date of enactment of this Act, the General Accountability 
     Office shall submit the report under this section to each 
     House of Congress.
                                 ______
                                 
  SA 63. Mr. FEINGOLD submitted an amendment intended to be proposed to 
amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, Mrs. 
Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; as follows:

       On page 50, strike line 1 and all that follows through page 
     51, line 12, and insert the following:
       ``(2) Congressional staff.--
       ``(A) Prohibition.--Any person who is an employee of a 
     House of Congress and who, within 2 years after that person 
     leaves office, knowingly makes, with the intent to influence, 
     any communication to or appearance before any of the persons 
     described in subparagraph (B), on behalf of any other person 
     (except the United States) in connection with any matter on 
     which such former employee seeks action by a Member, officer, 
     or employee of either House of Congress, in his or her 
     official capacity, shall be punished as provided in section 
     216 of this title.
       ``(B) Contact persons covered.--Persons referred to in 
     subparagraph (A) with respect to appearances or 
     communications are any Member, officer, or employee of the 
     House of Congress in which the person subject to subparagraph 
     (A) was employed. This subparagraph shall not apply to 
     contacts with staff of the Secretary of the Senate or the 
     Clerk of the House of Representatives regarding compliance 
     with lobbying disclosure requirements under the Lobbying 
     Disclosure Act of 1995.
       ``(3) Members of congress and elected officers.--Any person 
     who is a Member of Congress or an elected officer of either 
     House of Congress and who, within 2 years after that person 
     leaves office, knowingly engages in lobbying activities on 
     behalf of any other person (except the United States) in 
     connection with any matter on which such former Member of 
     Congress or elected officer seeks action by a Member, 
     officer, or employee of either House of Congress shall be 
     punished as provided in section 216 of this title.'';
       (3) in paragraph (6)--
       (A) by striking ``paragraphs (2), (3), and (4)'' and 
     inserting ``paragraph (2)'';
       (B) by striking ``(A)'';
       (C) by striking subparagraph (B); and
       (D) by redesignating the paragraph as paragraph (4); and
       (4) by redesignating paragraph (7) as paragraph (5).
       (c) Definition of Lobbying Activity.--Section 207(i) of 
     title 18, United States Code, is amended--
       (1) in paragraph (2), by striking ``and'' after the 
     semicolon;
       (2) in paragraph (3), by striking the period and inserting 
     ``; and''; and
       (3) by adding at the end the following:
       ``(4) the term `lobbying activities' has the same meaning 
     given such term in section 3(7) of the Lobbying Disclosure 
     Act (2 U.S.C. 1602(7)).''.
       (d) Effective Date.--The amendments made by subsection (b) 
     shall take effect 60 days after the date of enactment of this 
     Act.
                                 ______
                                 
  SA 64. Mr. FEINGOLD submitted an amendment intended to be proposed to 
amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, Mrs. 
Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; as follows:

       At the appropriate place, insert the following:
       Paragraph (1)(d) of rule XXXV of the Standing Rules of the 
     Senate is amended by adding at the end the following:
       ``5. A Member may not participate in an event honoring that 
     Member at a national party convention if such event is paid 
     for by any person or entity required to register pursuant to 
     section 4(a) of the Lobbying Disclosure Act of 1995, or any 
     individual or entity identified as a lobbyist or a client in 
     any current registration or report filed under such Act.''.
                                 ______
                                 
  SA 65. Mr. FEINGOLD submitted an amendment intended to be proposed to 
amendment SA 4 proposed by Mr. Reid (for himself, Mr. Durbin, Mr. 
Salazar, and Mr. Obama) to the amendment SA 3 proposed by Mr. Reid (for 
himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. 
Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the bill S. 1, to 
provide greater transparency in the legislative process; as follows:

       On page 2, between lines 2 and 3, insert the following:

     SEC. 108A. NATIONAL PARTY CONVENTIONS.

       Paragraph (1)(d) of rule XXXV of the Standing Rules of the 
     Senate is amended by adding at the end the following:
       ``5. A Member may not participate in an event honoring that 
     Member at a national party convention if such event is paid 
     for by any person or entity required to register pursuant to 
     section 4(a) of the Lobbying Disclosure Act of 1995, or any 
     individual or entity identified as a lobbyist or a client in 
     any current registration or report filed under such Act.''.
                                 ______
                                 
  SA 66. Mrs. BOXER submitted an amendment intended to be proposed by 
her to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. FULL DISCLOSURE OF EXECUTIVE CONTACTS BY LOBBYIST.

       Section 5(b)(2)(B) of the Act (2 U.S.C. 1604(b)(2)(B)) is 
     amended by inserting after ``Federal agencies'' the 
     following: ``(including specifically which office or 
     component of the agency)''.
                                 ______
                                 
  SA 67. Mr. REID submitted an amendment intended to be proposed by him 
to the bill S. 1, to provide greater transparency in the legislative 
process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. SENSE OF THE SENATE REGARDING IMPROVING CAMPAIGN 
                   FINANCE LAWS.

       It is the sense of the Senate that the Committee on Rules 
     and Administration of the Senate should--
       (1) study proposals to improve federal campaign finance 
     laws and report any legislation to the full Senate in a 
     timely manner.
                                 ______
                                 
  SA 68. Mr. REID submitted an amendment intended to be proposed by him 
to the bill S. 1, to provide greater transparency in the legislative 
process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. SENSE OF THE SENATE REGARDING IMPROVING THE ETHICS 
                   ENFORCEMENT PROCESS IN THE SENATE.

       It is the Sense of the Senate that the Committee on 
     Homeland Security and Governmental Affairs and the Committee 
     on Rules and Administration of the Senate should--
       (1) study mechanisms to improve the ethics enforcement 
     process in the Senate and report any legislation to the full 
     Senate in a timely manner;
       (2) in studying mechanisms under paragraph (1), consider 
     whether or not it would be constitutional and wise to 
     establish an independent bicameral office, separate offices 
     for the Senate and House of Representatives, or an 
     independent bipartisan commission to investigate complaints 
     of violation of the ethics rules of the Senate or House of 
     Representatives and present matters to the Select Committee 
     on Ethics of the Senate; and
       (3) in studying mechanisms under paragraph (1), consult 
     with the Select Committee on Ethics of the Senate.
                                 ______
                                 
  SA 69. Mr. REID submitted an amendment intended to be proposed by him 
to the bill S. 1, to provide greater transparency in the legislative 
process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. SENSE OF THE SENATE REGARDING IMPROVING CAMPAIGN 
                   FINANCE LAWS.

       It is the sense of the Senate that the Committee on Rules 
     and Administration of the Senate should--
       (1) study proposals to improve federal campaign finance 
     laws, including: laws related to the bundling of 
     contributions, and report any legislation to the full Senate 
     in a timely manner.
                                 ______
                                 
  SA 70. Mrs. FEINSTEIN (for herself and Mr. Rockefeller) submitted an 
amendment intended to be proposed to amendment SA 3 proposed by Mr. 
Reid (for himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett Mr. 
Lieberman, Ms. Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the 
bill S. 1, to provide greater transparency in the legislative process; 
as follows:

       On page 7, after line 6, insert the following:
       ``4. It shall not be in order to consider any bill, 
     resolution, or conference report that contains an earmark 
     included in any classified portion of a report accompanying 
     the measure unless the bill, resolution, or conference report 
     includes to the greatest extent practicable, consistent with 
     the need to protect national security (including intelligence 
     sources and methods), in unclassified language, a general 
     program description, funding level, and the name of the 
     sponsor of that earmark.''.

[[Page 1278]]


                                 ______
                                 
  SA 71. Mr. NELSON OF Nebraska (for himself and Mr. Salazar) submitted 
an amendment intended to be proposed to amendment SA 3 proposed by Mr. 
Reid (for himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett Mr. 
Lieberman, Ms. Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the 
bill S. 1, to provide greater transparency in the legislative process; 
as follows:

       At the appropriate place, insert the following:

     SEC. __. EQUAL APPLICATION OF ETHICS RULES TO EXECUTIVE AND 
                   JUDICIARY.

       (a) Gift and Travel Bans.--
       (1) In general.--The gift and travel bans that become the 
     rules of the Senate and law upon enactment of this Act, shall 
     be the minimum standards employed for any person described in 
     paragraph (2).
       (2) Applicability.--A person described in this paragraph is 
     the following:
       (A) Senior executive personnel.--A person--
       (i) employed at a rate of pay specified in or fixed 
     according to subchapter II of chapter 53 of title 5, United 
     States Code;
       (ii) employed in a position which is not referred to in 
     clause (i) and for which that person is paid at a rate of 
     basic pay which is equal to or greater than 86.5 percent of 
     the rate of basic pay for level II of the Executive Schedule, 
     or, for a period of 2 years following the enactment of the 
     National Defense Authorization Act for Fiscal Year 2004, a 
     person who, on the day prior to the enactment of that Act, 
     was employed in a position which is not referred to in clause 
     (i) and for which the rate of basic pay, exclusive of any 
     locality-based pay adjustment under section 5304 or section 
     5304a of title 5, United States Code, was equal to or greater 
     than the rate of basic pay payable for level 5 of the Senior 
     Executive Service on the day prior to the enactment of that 
     Act;
       (iii) appointed by the President to a position under 
     section 105(a)(2)(B) of title 3, United States Code or by the 
     Vice President to a position under section 106(a)(1)(B) of 
     title 3, United States Code; or
       (iv) employed in a position which is held by an active duty 
     commissioned officer of the uniformed services who is serving 
     in a grade or rank for which the pay grade (as specified in 
     section 201 of title 37, United States Code) is pay grade O-7 
     or above.
       (B) Very senior executive personnel.--A person described in 
     section 207(d)(1) of title 18, United States Code.
       (C) Senior members of judicial branch.--A senior member of 
     the judicial branch, as defined by the Judicial Conference of 
     the United States.
       (b) Staff Lobbying.--
       (1) In general.--Section 207(c)(2)(A) of title 18, United 
     States Code, is amended by striking clauses (i) through (v) 
     and inserting the following:
       ``(i) employed by any department or agency of the executive 
     branch; or
       ``(ii) assigned from a private sector organization to an 
     agency under chapter 37 of title 5.''.
       (2) Conforming amendment.--Section 207(c)(2)(C) of title 
     18, United States Code, is amended--
       (A) by redesignating clauses (i) and (ii) as subclauses (I) 
     and (II), respectively;
       (B) by inserting ``(i)'' before ``At the request'';
       (C) by striking ``referred to in clause (ii) or (iv) of 
     subparagraph (A)'' and inserting ``described in clause 
     (ii)''; and
       (D) by adding at the end the following:
       ``(ii) A position described in this clause is any 
     position--
       ``(I) where--

       ``(aa) the person is not employed at a rate of pay 
     specified in or fixed according to subchapter II of chapter 
     53 of title 5; and
       ``(bb) for which that person is paid at a rate of basic pay 
     which is equal to or greater than 86.5 percent of the rate of 
     basic pay for level II of the Executive Schedule, or, for a 
     period of 2 years following the enactment of the National 
     Defense Authorization Act for Fiscal Year 2004, a person who, 
     on the day prior to the enactment of that Act, was employed 
     in a position which is not referred to in clause (i) and for 
     which the rate of basic pay, exclusive of any locality-based 
     pay adjustment under section 5304 or section 5304a of title 
     5, was equal to or greater than the rate of basic pay payable 
     for level 5 of the Senior Executive Service on the day prior 
     to the enactment of that Act; or

       ``(II) which is held by an active duty commissioned officer 
     of the uniformed services who is serving in a grade or rank 
     for which the pay grade (as specified in section 201 of title 
     37) is pay grade O-7 or above.''.
       (c) Senior Executive Staff Employment Negotiations.--Senior 
     and very senior Executive personnel shall not directly 
     negotiate or have any arrangement concerning prospective 
     private employment while employed in that position unless 
     that employee files a signed statement with the Office of 
     Government Ethics for public disclosure regarding such 
     negotiations or arrangements within 3 business days after the 
     commencement of such negotiation or arrangement, including 
     the name of the private entity or entities involved in such 
     negotiations or arrangements, the date such negotiations or 
     arrangements commenced.
                                 ______
                                 
  SA 72. Mr. HARKIN submitted an amendment intended to be proposed by 
him to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:

       At the end of title 1, insert the following:

     SEC. 120. DEFINITIONS.

       Notwithstanding any other provision of this Act, for 
     purposes of rule XLIV of the Standing Rules of the Senate--
       (1) the term ``limited tax benefit'' means--any provision 
     that provides a federal tax deduction, credit, exclusion or 
     preference to a particular beneficiary or limited group of 
     beneficiaries.
                                 ______
                                 
  SA 73. Mr. HARKIN submitted an amendment intended to be proposed by 
him to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:

       At the end of title I, insert the following:

     SEC. 120. DEFINITIONS.

       Notwithstanding any other provision of this Act, for 
     purposes of rule XLIV of the Standing Rules of the Senate--
       (1) the term ``limited tax benefit'' means--
       (A) any provision that provides a Federal tax deduction, 
     credit, exclusion, or preference to 100 or fewer 
     beneficiaries under the Internal Revenue Code of 1986;
                                 ______
                                 
  SA 74. Mr. REID submitted an amendment intended to be proposed by him 
to the bill S. 1, to provide greater transparency in the legislative 
process; which was ordered to lie on the table; as follows:

       On page 44, after line 23, insert the following:
       ``(9) a certification that no employee listed as a lobbyist 
     under section 4(b)(6) or 5(b)(2)(C) serves as a Treasurer or 
     other official on the campaign committee for a Federal 
     candidate or officeholder or for a leadership PAC.''.
                                 ______
                                 
  SA 75. Mr. REID submitted an amendment intended to be proposed by him 
to the bill S. 1, to provide greater transparency in the legislative 
process; which was ordered to lie on the table; as follows:

       On page 31, after line 6, insert the following:
       ``(9) in the case of a covered lobbyist, the name of each 
     Federal candidate or officeholder or leadership PAC on which 
     the covered lobbyist serves as a Treasurer or other 
     official.''.

                                 ______
                                 
  SA 76. Mr. FEINGOLD (for himself and Mr. Obama) submitted an 
amendment intended to be proposed to amendment SA 3 proposed by Mr. 
Reid (for himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett, Mr. 
Lieberman, Ms. Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the 
bill S. 1, to provide greater transparency in the legislative process; 
as follows:

       Strike section 212 and insert the following:

     SEC. 212. QUARTERLY REPORTS ON OTHER CONTRIBUTIONS.

       Section 5 of the Act (2 U.S.C. 1604) is amended by adding 
     at the end the following:
       ``(d) Quarterly Reports on Other Contributions.--
       ``(1) In general.--Not later than 45 days after the end of 
     the quarterly period beginning on the 20th day of January, 
     April, July, and October of each year, or on the first 
     business day after the 20th if that day is not a business 
     day, each registrant under paragraphs (1) or (2) of section 
     4(a), and each employee who is listed as a lobbyist on a 
     current registration or report filed under this Act, shall 
     file a report with the Secretary of the Senate and the Clerk 
     of the House of Representatives containing--
       ``(A) the name of the registrant or lobbyist;
       ``(B) the employer of the lobbyist or the names of all 
     political committees established or administered by the 
     registrant;
       ``(C) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee, to whom 
     aggregate contributions equal to or exceeding $200 were made 
     by the lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     calendar year, and the date and amount of each contribution 
     made within the quarter;
       ``(D) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom a 
     fundraising event was hosted, co-hosted, or sponsored by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     quarter, and the date, location, and total amount (or good 
     faith estimate thereof) raised at such event;
       ``(E) the name of each covered legislative branch official 
     or covered executive branch

[[Page 1279]]

     official for whom the lobbyist, the registrant, or a 
     political committee established or administered by the 
     registrant provided, or directed or caused to be provided, 
     any payment or reimbursements for travel and related expenses 
     in connection with the duties of such covered official, 
     including for each such official--
       ``(i) an itemization of the payments or reimbursements 
     provided to finance the travel and related expenses, and to 
     whom the payments or reimbursements were made with the 
     express or implied understanding or agreement that such funds 
     will be used for travel and related expenses;
       ``(ii) the purpose and final itinerary of the trip, 
     including a description of all meetings, tours, events, and 
     outings attended;
       ``(iii) whether the registrant or lobbyist traveled on any 
     such travel;
       ``(iv) the identity of the listed sponsor or sponsors of 
     such travel; and
       ``(v) the identity of any person or entity, other than the 
     listed sponsor or sponsors of the travel, who directly or 
     indirectly provided for payment of travel and related 
     expenses at the request or suggestion of the lobbyist, the 
     registrant, or a political committee established or 
     administered by the registrant;
       ``(F) the date, recipient, and amount of funds contributed, 
     disbursed, or arranged (or a good faith estimate thereof) by 
     the lobbyist, the registrant, or a political committee 
     established or administered by the registrant--
       ``(i) to pay the cost of an event to honor or recognize a 
     covered legislative branch official or covered executive 
     branch official;
       ``(ii) to, or on behalf of, an entity that is named for a 
     covered legislative branch official, or to a person or entity 
     in recognition of such official;
       ``(iii) to an entity established, financed, maintained, or 
     controlled by a covered legislative branch official or 
     covered executive branch official, or an entity designated by 
     such official; or
       ``(iv) to pay the costs of a meeting, retreat, conference, 
     or other similar event held by, or for the benefit of, 1 or 
     more covered legislative branch officials or covered 
     executive branch officials; except that this paragraph shall 
     not apply to any funds required to be reported under section 
     304 of the Federal Election Campaign Act of 1974 (2 U.S.C. 
     434)
       ``(G) the date, recipient, and amount of any gift (that 
     under the standing rules of the House of Representatives or 
     Senate counts towards the $100 cumulative annual limit 
     described in such rules) valued in excess of $20 given by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant to a covered 
     legislative branch official or covered executive branch 
     official; and
       ``(H) the name of each Presidential library foundation and 
     Presidential inaugural committee, to whom contributions equal 
     to or exceeding $200 were made by the lobbyist, the 
     registrant, or a political committee established or 
     administered by the registrant within the calendar year, and 
     the date and amount of each such contribution within the 
     quarter.
       ``(2) Rule of construction.--
       For the purposes of this paragraph--
       ``(i) the term `lobbyist' shall include a lobbyist, 
     registrant, or political committee established or 
     administered by the registrant; and
       ``(ii) the term `Federal candidate or other recipient' 
     shall include a Federal candidate, Federal officeholder, 
     leadership PAC, or political party committee.
       ``(3) Definitions.--In this subsection, the following 
     definitions shall apply:
       ``(A) Gift.--The term `gift'--
       ``(i) means a gratuity, favor, discount, entertainment, 
     hospitality, loan, forbearance, or other item having monetary 
     value; and
       ``(ii) includes, whether provided in kind, by purchase of a 
     ticket, payment in advance, or reimbursement after the 
     expense has been incurred--

       ``(I) gifts of services;
       ``(II) training;
       ``(III) transportation; and
       ``(IV) lodging and meals.

       ``(B) Leadership pac.--The term `leadership PAC' means with 
     respect to an individual holding Federal office, an 
     unauthorized political committee which is associated with an 
     individual holding Federal office, except that such term 
     shall not apply in the case of a political committee of a 
     political party.''.
                                 ______
                                 
  SA 77. Mr. DURBIN submitted an amendment intended to be proposed by 
him to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table, as follows:

       At the appropriate place, insert the following:

     SEC.   . AMENDMENTS AND MOTIONS TO RECOMMITT.

       Paragraph 1 of Rule XV of the Standing Rules of the Senate 
     is amended to read as follows:
       ``1. (a) An amendment and any instruction accompanying a 
     motion to recommit shall be reduced to writing and read and 
     identical copies shall be provided by the Senator offering 
     the amendment or instruction to the desks of the Majority 
     Leader and the Minority leader before being debated.
       ``(b) A motion shall be reduced to writing, if desired by 
     the Presiding officer or by any Senator, and shall be read 
     before being debated.''.
                                 ______
                                 
  SA 78. Mr. LOTT submitted an amendment intended to be proposed to 
amendment SA 4 proposed by Mr. Reid (for himself, Mr. Durbin, Mr. 
Salazar and Mr. Obama) to the amendment SA 3 proposed by Mr. Reid (for 
himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. 
Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the bill S. 1 to 
provide greater transparency in the legislative process; as follows:

       At the appropriate place, insert the following:

     SEC. ___. OFFICIAL TRAVEL.

       Rule XXXVIII of the Standing Rules of the Senate is amended 
     by adding at the end the following:
       ``3. Any payment or reimbursement for travel in connection 
     with the official duties of the Member (except in the case of 
     third party sponsored travel approved by the Select Committee 
     on Ethics under rule XXXV) shall be paid for exclusively with 
     appropriated funds and may not be supplemented by any other 
     funds, including funds of the Member or from a political 
     committee as defined in section 301(4) of the Federal 
     Election Campaign Act of 1971 (2 U.S.C. 431(4)), or a 
     gift.''.
                                 ______
                                 
  SA 79. Mr. LOTT submitted an amendment intended to be proposed to 
amendment SA 4 proposed by Mr. Reid (for himself, Mr. Durbin, Mr. 
Salazar and Mr. Obama) to the amendment SA 3 proposed by Mr. Reid (for 
himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. 
Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the bill S. 1 to 
provide greater transparency in the legislative process; as follows:

       At the appropriate place, insert the following:

     SEC. ___. OFFICIAL TRAVEL.

       Rule XXXVIII of the Standing Rules of the Senate is amended 
     by adding at the end the following:
       ``3. Any payment or reimbursement for travel in connection 
     with the official duties of the Member (except in the case of 
     third party sponsored travel approved by the Select Committee 
     on Ethics under rule XXXV) shall be paid for exclusively with 
     appropriated funds or funds from a political committee as 
     defined in section 301(4) of the Federal Election Campaign 
     Act of 1971 (2 U.S.C. 431C4) and may not be supplemented by 
     any other funds, including funds of the Member, or a gift.''.
                                 ______
                                 
  SA 80. Mr. COBURN submitted an amendment intended to be proposed by 
him to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert,
       (a) It shall not be in order to consider any bill, joint 
     resolution, conference report or amendment to a bill, joint 
     resolution or conference report that contains a congressional 
     initiative unless the language of such specifically requires 
     competitive procedures be in place for selection of earmark 
     funds recipients.
       a. Competitive procedures defined--competitive procedures 
     means those procedures in accordance with the requirements of 
     section 303 of the Federal Property and Administrative 
     Services Act of 1949 (41 U.S.C. 253), section 2304 of title 
     10, United States Code, and the Federal Acquisition 
     Regulation.
       b. Bid requirement--The language of a bill, joint 
     resolution, conference report or amendment must prohibit any 
     contract or grant from being awarded unless more than one bid 
     or application is received for each grant or contract.
                                 ______
                                 
  SA 81. Mr. BENNETT submitted an amendment intended to be proposed to 
amendment SA 4 proposed by Mr. Reid (for himself, Mr. Durbin, Mr. 
Salazar, and Mr. Obama) to the amendment SA 3 proposed by Mr. Reid (for 
himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. 
Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the bill S. 1, to 
provide greater transparency in the legislative process; as follows:

       On page 3, line 8, after ``clause (1)'' insert ``sponsored 
     by a 501(c)(3) organization that has been pre-approved by the 
     Select Committee on Ethics. When deciding whether to pre-
     approve a 501(c)(3) organization, the Select Committee on 
     Ethics shall consider the stated mission of the organization, 
     the organization's prior history of sponsoring congressional 
     trips, other educational activities performed by the 
     organization besides sponsoring congressional trips, whether 
     any trips

[[Page 1280]]

     previously sponsored by the organization led to an 
     investigation by the Select Committee on Ethics and any other 
     factor deemed relevant by the Select Committee on Ethics.''.
                                 ______
                                 
  SA 82. Mr. BENNETT submitted an amendment intended to be proposed to 
amendment SA 4 proposed by Mr. Reid (for himself, Mr. Durbin, Mr. 
Salazar, and Mr. Obama) to the amendment SA 3 proposed by Mr. Reid (for 
himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. 
Collins, Mr. Obama,, Mr. Salazar, and Mr. Durbin) to the bill S. 1, to 
provide greater transparency in the legislative process; which was 
ordered to lie on the table; as follows:

       Strike section 109 and insert the following:

     SEC. 109. TRAVEL RESTRICTIONS AND DISCLOSURE.

       (a) In General.--Paragraph 2 of rule XXXV of the Standing 
     Rules of the Senate is amended by adding at the end the 
     following:
       ``(f)(1) Before a Member, officer, or employee may accept 
     transportation or lodging otherwise permissible under this 
     paragraph from any person, other than a governmental entity, 
     such Member, officer, or employee shall--
       ``(A) obtain a written certification from such person (and 
     provide a copy of such certification to the Select Committee 
     on Ethics) that--
       ``(i) the trip was not financed in whole, or in part, by a 
     registered lobbyist or foreign agent;
       ``(ii) the person did not accept, directly or indirectly, 
     funds from a registered lobbyist or foreign agent 
     specifically earmarked for the purpose of financing the 
     travel expenses;
       ``(iii) the trip was not planned, organized, or arranged by 
     or at the request of a registered lobbyist or foreign agent; 
     and
       ``(iv) registered lobbyists will not participate in or 
     attend the trip;
       ``(B) provide the Select Committee on Ethics (in the case 
     of an employee, from the supervising Member or officer), in 
     writing--
       ``(i) a detailed itinerary of the trip; and
       ``(ii) a determination that the trip--
       ``(I) is primarily educational (either for the invited 
     person or for the organization sponsoring the trip);
       ``(II) is consistent with the official duties of the 
     Member, officer, or employee;
       ``(III) does not create an appearance of use of public 
     office for private gain; and
       ``(iii) has a minimal or no recreational component; and
       ``(C) obtain written approval of the trip from the Select 
     Committee on Ethics.
       ``(2) Not later than 30 days after completion of travel, 
     approved under this subparagraph, the Member, officer, or 
     employee shall file with the Select Committee on Ethics and 
     the Secretary of the Senate a description of meetings and 
     events attended during such travel and the names of any 
     registered lobbyist who accompanied the Member, officer, or 
     employee during the travel, except when disclosure of such 
     information is deemed by the Member or supervisor under whose 
     direct supervision the employee is employed to jeopardize the 
     safety of an individual or adversely affect national 
     security. Such information shall also be posted on the 
     Member's official website not later than 30 days after the 
     completion of the travel, except when disclosure of such 
     information is deemed by the Member to jeopardize the safety 
     of an individual or adversely affect national security.''.
       (b) Disclosure of Noncommercial Air Travel.--
       (1) Rules.--Paragraph 2 of rule XXXV of the Standing Rules 
     of the Senate, as amended by subsection (a), is amended by 
     adding at the end the following:
       ``(g) A Member, officer, or employee of the Senate shall--
       ``(1) disclose a flight on an aircraft that is not licensed 
     by the Federal Aviation Administration to operate for 
     compensation or hire, excluding a flight on an aircraft 
     owned, operated, or leased by a governmental entity, taken in 
     connection with the duties of the Member, officer, or 
     employee as an officeholder or Senate officer or employee; 
     and
       ``(2) with respect to the flight, file a report with the 
     Secretary of the Senate, including the date, destination, and 
     owner or lessee of the aircraft, the purpose of the trip, and 
     the persons on the trip, except for any person flying the 
     aircraft.''.
       (2) FECA.--Section 304(b) of the Federal Election Campaign 
     Act of 1971 (2 U.S.C. 434(b)) is amended--
       (A) by striking ``and'' at the end of paragraph (7);
       (B) by striking the period at the end of paragraph (8) and 
     inserting ``; and''; and
       (C) by adding at the end the following:
       ``(9) in the case of a principal campaign committee of a 
     candidate (other than a candidate for election to the office 
     of President or Vice President), any flight taken by the 
     candidate (other than a flight designated to transport the 
     President, Vice President, or a candidate for election to the 
     office of President or Vice President) during the reporting 
     period on an aircraft that is not licensed by the Federal 
     Aviation Administration to operate for compensation or hire, 
     together with the following information:
       ``(A) The date of the flight.
       ``(B) The destination of the flight.
       ``(C) The owner or lessee of the aircraft.
       ``(D) The purpose of the flight.
       ``(E) The persons on the flight, except for any person 
     flying the aircraft.''.
       (c) Public Availability.--Paragraph 2(e) of rule XXXV of 
     the Standing Rules of the Senate is amended to read as 
     follows:
       ``(e) The Secretary of the Senate shall make available to 
     the public all disclosures filed pursuant to subparagraphs 
     (f) and (g) as soon as possible after they are received and 
     such matters shall be posted on the Member's official website 
     but no later than 30 days after the trip or flight.''.
                                 ______
                                 
  SA 83. Mr. GREGG (for himself, Mr. DeMint, Mrs. Dole, Mr. Burr, Mr. 
Chambliss, Mr. Thomas, Mr. McConnell, Mr. Lott, Mr. Kyl, Mrs. 
Hutchison, Mr. Cornyn, Mr. Allard, Mr. Crapo, Mr. Bunning, Mr. Vitter, 
Mr. Brownback, Mr. Alexander, Mr. Craig, Mr. McCain, Mr. Sununu, Mr. 
Enzi, Mr. Martinez, Mr. Coleman, Mr. Graham, Mr. Voinovich, Mr. 
Isakson, Mr. Coburn, Mr. Ensign, Mr. Thune, and Mr. Sessions) submitted 
an amendment intended to be proposed to amendment SA 3 proposed by Mr. 
Reid (for himself, Mr. McConnell, Mrs. Feinstein, Mr. Bennett, Mr. 
Lieberman, Ms. Collins, Mr. Obama, Mr. Salazar, and Mr. Durbin) to the 
bill S. 1, to provide greater transparency in the legislative process; 
which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:
        TITLE III--SECOND LOOK AT WASTEFUL SPENDING ACT OF 2007

     SEC. 301. SHORT TITLE.

       This title may be cited as the ``Second Look at Wasteful 
     Spending Act of 2007''.

     SEC. 302. LEGISLATIVE LINE ITEM VETO.

       (a) In General.--Title X of the Congressional Budget and 
     Impoundment Control Act of 1974 (2 U.S.C. 621 et seq.) is 
     amended by striking part C and inserting the following:

     ``PART C--LEGISLATIVE LINE ITEM VETO

     ``SEC. 1021. EXPEDITED CONSIDERATION OF CERTAIN PROPOSED 
                   RESCISSIONS.

       ``(a) Proposed Rescissions.--The President may send a 
     special message, at the time and in the manner provided in 
     subsection (b), that proposes to rescind dollar amounts of 
     discretionary budget authority, items of direct spending, and 
     targeted tax benefits.
       ``(b) Transmittal of Special message.--
       ``(1) Special message.--
       ``(A) In general.--
       ``(i) Four messages.--The President may transmit to 
     Congress not to exceed 4 special messages per calendar year, 
     proposing to rescind dollar amounts of discretionary budget 
     authority, items of direct spending, and targeted tax 
     benefits.
       ``(ii) Timing.--Special messages may be transmitted under 
     clause (i)--
       ``(I) with the President's budget submitted pursuant to 
     section 1105 of title 31, United States Code; and
       ``(II) 3 other times as determined by the President.
       ``(iii) Limitations.--
       ``(I) In general.--Special messages shall be submitted 
     within 1 calendar year of the date of enactment of any dollar 
     amount of discretionary budget authority, item of direct 
     spending, or targeted tax benefit the President proposes to 
     rescind pursuant to this Act.
       ``(II) Resubmittal rejected.--If Congress rejects a bill 
     introduced under this part, the President may not resubmit 
     any of the dollar amounts of discretionary budget authority, 
     items of direct spending, or targeted tax benefits in that 
     bill under this part, or part B with respect to dollar 
     amounts of discretionary budget authority.
       ``(III) Resubmital after sine die.--If Congress does not 
     complete action on a bill introduced under this part because 
     Congress adjourns sine die, the President may resubmit some 
     or all of the dollar amounts of discretionary budget 
     authority, items of direct spending, and targeted tax 
     benefits in that bill in not more than 1 subsequent special 
     message under this part, or part B with respect to dollar 
     amounts of discretionary budget authority.
       ``(B) Contents of special message.--Each special message 
     shall specify, with respect to the dollar amount of 
     discretionary budget authority, item of direct spending, or 
     targeted tax benefit proposed to be rescinded--
       ``(i) the dollar amount of discretionary budget authority 
     available and proposed for rescission from accounts, 
     departments, or establishments of the government and the 
     dollar amount of the reduction in outlays that would result 
     from the enactment of such rescission of discretionary budget 
     authority for the time periods set forth in clause (iii);
       ``(ii) the specific items of direct spending and targeted 
     tax benefits proposed for rescission and the dollar amounts 
     of the reductions in budget authority and outlays or 
     increases in receipts that would result from enactment of 
     such rescission for the time periods set forth in clause 
     (iii);
       ``(iii) the budgetary effects of proposals for rescission, 
     estimated as of the date the

[[Page 1281]]

     President submits the special message, relative to the most 
     recent levels calculated consistent with the methodology 
     described in section 257 of the Balanced Budget and Emergency 
     Deficit Control Act of 1985 and included with a budget 
     submission under section 1105(a) of title 31, United States 
     Code, for the time periods of--
       ``(I) the fiscal year in which the proposal is submitted; 
     and
       ``(II) each of the 10 following fiscal years beginning with 
     the fiscal year after the fiscal year in which the proposal 
     is submitted;
       ``(iv) any account, department, or establishment of the 
     Government to which such dollar amount of discretionary 
     budget authority or item of direct spending is available for 
     obligation, and the specific project or governmental 
     functions involved;
       ``(v) the reasons why such dollar amount of discretionary 
     budget authority or item of direct spending or targeted tax 
     benefit should be rescinded;
       ``(vi) the estimated fiscal and economic impacts, of the 
     proposed rescission;
       ``(vii) to the maximum extent practicable, all facts, 
     circumstances, and considerations relating to or bearing upon 
     the proposed rescission and the decision to effect the 
     proposed rescission, and the estimated effect of the proposed 
     rescission upon the objects, purposes, and programs for which 
     the budget authority or items of direct spending or targeted 
     tax benefits are provided; and
       ``(viii) a draft bill that, if enacted, would rescind the 
     budget authority, items of direct spending and targeted tax 
     benefits proposed to be rescinded in that special message.
       ``(2) Analysis by congressional budget office and joint 
     committee on taxation.--
       ``(A) In general.--Upon the receipt of a special message 
     under this part proposing to rescind dollar amounts of 
     discretionary budget authority, items of direct spending, and 
     targeted tax benefits--
       ``(i) the Director of the Congressional Budget Office shall 
     prepare an estimate of the savings in budget authority or 
     outlays resulting from such proposed rescission and shall 
     include in its estimate, an analysis prepared by the Joint 
     Committee on Taxation related to targeted tax benefits; and
       ``(ii) the Director of the Joint Committee on Taxation 
     shall prepare an estimate and forward such estimate to the 
     Congressional Budget Office, of the savings from repeal of 
     targeted tax benefits.
       ``(B) Methodology.--The estimates required by subparagraph 
     (A) shall be made relative to the most recent levels 
     calculated consistent with the methodology used to calculate 
     a baseline under section 257 of the Balanced Budget and 
     Emergency Control Act of 1985 and included with a budget 
     submission under section 1105(a) of title 31, United States 
     Code, and transmitted to the chairmen of the Committees on 
     the Budget of the House of Representatives and Senate.
       ``(3) Enactment of rescission bill.--
       ``(A) Deficit reduction.--Amounts of budget authority or 
     items of direct spending or targeted tax benefit that are 
     rescinded pursuant to enactment of a bill as provided under 
     this part shall be dedicated only to deficit reduction and 
     shall not be used as an offset for other spending increases 
     or revenue reductions.
       ``(B) Adjustment of budget targets.--Not later than 5 days 
     after the date of enactment of a rescission bill as provided 
     under this part, the chairs of the Committees on the Budget 
     of the Senate and the House of Representatives shall revise 
     spending and revenue levels under section 311(a) of the 
     Congressional Budget Act of 1974 and adjust the committee 
     allocations under section 302(a) of the Congressional Budget 
     Act of 1974 or any other adjustments as may be appropriate to 
     reflect the rescission. The adjustments shall reflect the 
     budgetary effects of such rescissions as estimated by the 
     President pursuant to paragraph (1)(B)(iii). The appropriate 
     committees shall report revised allocations pursuant to 
     section 302(b) of the Congressional Budget Act of 1974. 
     Notwithstanding any other provision of law, the revised 
     allocations and aggregates shall be considered to have been 
     made under a concurrent resolution on the budget agreed to 
     under the Congressional Budget Act of 1974 and shall be 
     enforced under the procedures of that Act.
       ``(C) Adjustments to caps.--After enactment of a rescission 
     bill as provided under this part, the President shall revise 
     applicable limits under the Second Look at Wasteful Spending 
     Act of 2007, as appropriate.
       ``(c) Procedures for Expedited Consideration.--
       ``(1) In general.--
       ``(A) Introduction.--Before the close of the second day of 
     session of the Senate and the House of Representatives, 
     respectively, after the date of receipt of a special message 
     transmitted to Congress under subsection (b), the majority 
     leader of each House, for himself, or minority leader of each 
     House, for himself, or a Member of that House designated by 
     that majority leader or minority leader shall introduce (by 
     request) the President's draft bill to rescind the amounts of 
     budget authority or items of direct spending or targeted tax 
     benefits, as specified in the special message and the 
     President's draft bill. If the bill is not introduced as 
     provided in the preceding sentence in either House, then, on 
     the third day of session of that House after the date of 
     receipt of that special message, any Member of that House may 
     introduce the bill.
       ``(B) Referral and reporting.--
       ``(i) One committee.--The bill shall be referred by the 
     presiding officer to the appropriate committee. The committee 
     shall report the bill without any revision and with a 
     favorable, an unfavorable, or without recommendation, not 
     later than the fifth day of session of that House after the 
     date of introduction of the bill in that House. If the 
     committee fails to report the bill within that period, the 
     committee shall be automatically discharged from 
     consideration of the bill, and the bill shall be placed on 
     the appropriate calendar.
       ``(ii) Multiple committees.--
       ``(I) Referrals.--If a bill contains provisions in the 
     jurisdiction of more than 1 committee, the bill shall be 
     jointly referred to the committees of jurisdiction and the 
     Committee on the Budget.
       ``(II) Views of committee.--Any committee, other than the 
     Committee on the Budget, to which a bill is referred under 
     this clause may submit a favorable, an unfavorable 
     recommendation, without recommendation with respect to the 
     bill to the Committee on the Budget prior to the reporting or 
     discharge of the bill.
       ``(III) Reporting.--The Committee on the Budget shall 
     report the bill not later than the fifth day of session of 
     that House after the date of introduction of the bill in that 
     House, without any revision and with a favorable or 
     unfavorable recommendation, or with no recommendation, 
     together with the recommendations of any committee to which 
     the bill has been referred.
       ``(IV) Discharge.--If the Committee on the Budget fails to 
     report the bill within that period, the committee shall be 
     automatically discharged from consideration of the bill, and 
     the bill shall be placed on the appropriate calendar.
       ``(C) Final passage.--A vote on final passage of the bill 
     shall be taken in the Senate and the House of Representatives 
     on or before the close of the 10th day of session of that 
     House after the date of the introduction of the bill in that 
     House. If the bill is passed, the Clerk of the House of 
     Representatives shall cause the bill to be transmitted to the 
     Senate before the close of the next day of session of the 
     House.
       ``(2) Consideration in the house of representatives.--
       ``(A) Motion to proceed to consideration.--A motion in the 
     House of Representatives to proceed to the consideration of a 
     bill under this subsection shall be highly privileged and not 
     debatable. An amendment to the motion shall not be in order, 
     nor shall it be in order to move to reconsider the vote by 
     which the motion is agreed to or disagreed to.
       ``(B) Limits on debate.--Debate in the House of 
     Representatives on a bill under this subsection shall not 
     exceed 4 hours, which shall be divided equally between those 
     favoring and those opposing the bill. A motion further to 
     limit debate shall not be debatable. It shall not be in order 
     to move to recommit a bill under this subsection or to move 
     to reconsider the vote by which the bill is agreed to or 
     disagreed to.
       ``(C) Appeals.--Appeals from decisions of the chair 
     relating to the application of the Rules of the House of 
     Representatives to the procedure relating to a bill under 
     this part shall be decided without debate.
       ``(D) Application of house rules.--Except to the extent 
     specifically provided in this part, consideration of a bill 
     under this part shall be governed by the Rules of the House 
     of Representatives. It shall not be in order in the House of 
     Representatives to consider any bill introduced pursuant to 
     the provisions of this part under a suspension of the rules 
     or under a special rule.
       ``(3) Consideration in the senate.--
       ``(A) Motion to proceed to consideration.--A motion to 
     proceed to the consideration of a bill under this subsection 
     in the Senate shall not be debatable. A motion to proceed to 
     consideration of the bill may be made even though a previous 
     motion to the same effect has been disagreed to. It shall not 
     be in order to move to reconsider the vote by which the 
     motion to proceed is agreed to or disagreed to.
       ``(B) Limits on debate.--Debate in the Senate on a bill 
     under this subsection, and all debatable motions and appeals 
     in connection therewith, shall not exceed a total of 10 
     hours, equally divided and controlled in the usual form.
       ``(C) Debatable motions and appeals.--Debate in the Senate 
     on any debatable motion or appeal in connection with a bill 
     under this subsection shall be limited to not more than 1 
     hour from the time allotted for debate, to be equally divided 
     and controlled in the usual form.
       ``(D) Motion to limit debate.--A motion in the Senate to 
     further limit debate on a bill under this subsection is not 
     debatable.
       ``(E) Motion to recommit.--A motion to recommit a bill 
     under this subsection is not in order.
       ``(F) Consideration of the house bill.--
       ``(i) In general.--If the Senate has received the House 
     companion bill to the bill introduced in the Senate prior to 
     the vote required under paragraph (I)(C), then the Senate 
     shall consider, and the vote under paragraph (I)(C) shall 
     occur on, the House companion bill.

[[Page 1282]]

       ``(ii) Procedure after vote on senate bill.--If the Senate 
     votes, pursuant to paragraph (1)(C), on the bill introduced 
     in the Senate, the Senate bill shall be held pending receipt 
     of the House message on the bill. Upon receipt of the House 
     companion bill, the House bill shall be deemed to be 
     considered, read for the third time, and the vote on passage 
     of the Senate bill shall be considered to be the vote on the 
     bill received from the House.
       ``(d)--Amendments and Divisions Prohibited.--
       ``(1) In general.--No amendment to a bill considered under 
     this part shall be in order in either the Senate or the House 
     of Representatives.
       ``(2) No division.--It shall not be in order to demand a 
     division of the question in the House of Representatives (or 
     in a Committee of the Whole).
       ``(3) No suspension.--No motion to suspend the application 
     of this subsection shall be in order in the House of 
     Representatives, nor shall it be in order in either the House 
     of Representatives or the Senate to suspend the application 
     of this subsection by unanimous consent.
       ``(e) Temporary Presidential Authority To Withhold.--
       ``(1) Availability.--The President may not withhold any 
     dollar amount of discretionary budget authority until the 
     President transmits and Congress receives a special message 
     pursuant to subsection (b). Upon receipt by Congress of a 
     special message pursuant to subsection (b), the President may 
     direct that any dollar amount of discretionary budget 
     authority proposed to be rescinded in that special message 
     shall be withheld from obligation for a period not to exceed 
     45 calendar days from the date of receipt by Congress.
       ``(2) Early availability.--The President may make any 
     dollar amount of discretionary budget authority withheld from 
     obligation pursuant to paragraph (1) available at an earlier 
     time if the President determines that continued withholding 
     would not further the purposes of this Act.
       ``(f) Temporary Presidential Authority Suspend.--
       ``(1) Suspend.--
       ``(A) In general.--The President may not suspend the 
     execution of any item of direct spending or targeted tax 
     benefit until the President transmits and Congress receives a 
     special message pursuant to subsection (b). Upon receipt by 
     Congress of a special message, the President may suspend the 
     execution of any item of direct spending or targeted tax 
     benefit proposed to be rescinded in that message for a period 
     not to exceed 45 calendar days from the date of receipt by 
     Congress.
       ``(B) Limitation on 45-day period.--The 45-day period 
     described in subparagraph (A) shall be reduced by the number 
     of days contained in the period beginning on the effective 
     date of the item of direct spending or targeted tax benefit; 
     and ending on the date that is the later of--
       ``(i) the effective date of the item of direct spending or 
     targeted benefit; or
       ``(ii) the date that Congress receives the special message.
       ``(C) Clarification.--Notwithstanding subparagraph (B), in 
     the case of an item of direct spending or targeted tax 
     benefit with an effective date within 45 days after the date 
     of enactment, the beginning date of the period calculated 
     under subparagraph (B) shall be the date that is 45 days 
     after the date of enactment and the ending date shall be the 
     date that is the later of--
       ``(i) the date that is 45 days after enactment; or
       ``(ii) the date that Congress receives the special message.
       ``(2) Early availability.--The President may terminate the 
     suspension of any item of direct spending or targeted tax 
     benefit suspended pursuant to paragraph (1) at an earlier 
     time if the President determines that continuation of the 
     suspension would not further the purposes of this Act.
       ``(g) Definitions.--In this part:
       ``(1) Appropriation law.--The term `appropriation law' 
     means any general or special appropriation Act, and any Act 
     or joint resolution making supplemental, deficiency, or 
     continuing appropriations.
       ``(2) Calendar day.--The term `calendar day' means a 
     standard 24-hour period beginning at midnight.
       ``(3) Days of session.--The term `days of session' means 
     only those days on which both Houses of Congress are in 
     session.
       ``(4) Dollar amount of discretionary budget authority.--The 
     term `dollar amount of discretionary budget authority' means 
     the dollar amount of budget authority and obligation 
     limitations--
       ``(A) specified in an appropriation law, or the dollar 
     amount of budget authority required to be allocated by a 
     specific proviso in an appropriation law for which a specific 
     dollar figure was not included;
       ``(B) represented separately in any table, chart, or 
     explanatory text included in the statement of managers or the 
     governing committee report accompanying such law;
       ``(C) required to be allocated for a specific program, 
     project, or activity in a law (other than an appropriation 
     law) that mandates obligations from or within accounts, 
     programs, projects, or activities for which budget authority 
     or an obligation limitation is provided in an appropriation 
     law;
       ``(D) represented by the product of the estimated 
     procurement cost and the total quantity of items specified in 
     an appropriation law or included in the statement of managers 
     or the governing committee report accompanying such law; or
       ``(E) represented by the product of the estimated 
     procurement cost and the total quantity of items required to 
     be provided in a law (other than an appropriation law) that 
     mandates obligations from accounts, programs, projects, or 
     activities for which dollar amount of discretionary budget 
     authority or an obligation limitation is provided in an 
     appropriation law.
       ``(5) Rescind or rescission.--The term `rescind' or 
     `rescission' means--
       ``(A) in the case of a dollar amount of discretionary 
     budget authority, to reduce or repeal a provision of law to 
     prevent that budget authority or obligation limitation from 
     having legal force or effect; and
       ``(B) in the case of direct spending or targeted tax 
     benefit, to repeal a provision of law in order to prevent the 
     specific legal obligation of the United States from having 
     legal force or effect.
       ``(6) Direct spending.--The term `direct spending' means 
     budget authority provided by law (other than an appropriation 
     law), mandatory spending provided in appropriation Acts, and 
     entitlement authority.
       ``(7) Item of direct spending.--The term `item of direct 
     spending' means any specific provision of law enacted after 
     the effective date of the Second Look at Wasteful Spending 
     Act of 2007 that is estimated to result in an increase in 
     budget authority or outlays for direct spending relative to 
     the most recent levels calculated consistent with the 
     methodology described in section 257 of the Balanced Budget 
     and Emergency Deficit Control Act of 1985 and included with a 
     budget submission under section 1105(a) of title 31, United 
     States Code, and, with respect to estimates made after that 
     budget submission that are not included with it, estimates 
     consistent with the economic and technical assumptions 
     underlying the most recently submitted President's budget.
       ``(8) Suspend the execution.--The term `suspend the 
     execution' means, with respect to an item of direct spending 
     or a targeted tax benefit, to stop the carrying into effect 
     of the specific provision of law that provides such benefit.
       ``(9) Targeted tax benefit.--The term `targeted tax 
     benefit' means--
       ``(A) any revenue provision that has the practical effect 
     of providing more favorable tax treatment to a particular 
     taxpayer or limited group of taxpayers when compared with 
     other similarly situated taxpayers; or
       ``(B) any Federal tax provision which provides one 
     beneficiary temporary or permanent transition relief from a 
     change to the Internal Revenue Code of 1986.''.
       (b) Exercise of Rulemaking Powers.--Section 904 of the 
     Congressional Budget Act of 1974 (2 U.S.C. 621 note) is 
     amended--
       (1) in subsection (a), by striking ``and 1017'' and 
     inserting ``1017, and 1021''; and
       (2) in subsection (d), by striking ``section 1017'' and 
     inserting ``sections 1017 and 1021''.
       (c) Clerical Amendments.--
       (1) Short title.--Section 1(a) of the Congressional Budget 
     and Impoundment Control Act of 1974 is amended by--
       (A) striking ``Parts A and B'' before ``title X'' and 
     inserting ``Parts A, B, and C''; and
       (B) striking the last sentence and inserting at the end the 
     following new sentence: ``Part C of title X also may be cited 
     as the `Second Look at Wasteful Spending Act of 2007'.''
       (2) 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 deleting the contents for 
     part C of title X and inserting the following:

                  ``Part C--Legislative Line Item Veto

     ``Sec. 1021. Expedited consideration of certain proposed 
     rescissions.''.
       (d) Severability.--If any provision of this Act or the 
     amendments made by it is held to be unconstitutional, the 
     remainder of this Act and the amendments made by it shall not 
     be affected by the holding.
       (e) Effective Date and Expiration.--
       (1) Effective date.--The amendments made by this Act 
     shall--
       (A) take effect on the date of enactment of this Act; and
       (B) apply to any dollar amount of discretionary budget 
     authority, item of direct spending, or targeted tax benefit 
     provided in an Act enacted on or after the date of enactment 
     of this title.
       (2) Expiration.--The amendments made by this Act shall 
     expire on December 31, 2010.
                                 ______
                                 
  SA 84. Mr. COBURN submitted an amendment intended to be proposed to 
amendment SA 49 proposed by Mr. Bond (for Mr. Coburn) to the amendment 
SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, Mrs. Feinstein, 
Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. Salazar, and 
Mr. Durbin) to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:


[[Page 1283]]

       At the end of the amendment, add the following:

     SEC. __. PROHIBITION ON USE OF EARMARKS TO AWARD NO BID 
                   CONTRACTS AND NONCOMPETITIVE GRANTS.

       (a) Prohibition.--
       (1) Contracts.--
       (A) In general.--Notwithstanding any other provision of 
     law, all contracts awarded through congressional initiatives 
     shall be awarded using competitive procedures in accordance 
     with the requirements of section 303 of the Federal Property 
     and Administrative Services Act of 1949 (41 U.S.C. 253), 
     section 2304 of title 10, United States Code, and the Federal 
     Acquisition Regulation.
       (B) Bid requirement.--No contract may be awarded through a 
     congressional initiative unless more than one bid is received 
     for such contract.
       (2) Grants.--Notwithstanding any other provision of law, no 
     funds may be awarded by grant or cooperative agreement 
     through a congressional initiative unless the process used to 
     award such grant or cooperative agreement uses competitive 
     procedures to select the grantee or award recipient. No such 
     grant may be awarded unless applications for such grant or 
     cooperative agreement are received from two or more 
     applicants that are not from the same organization and do not 
     share any financial, fiduciary, or other organizational 
     relationship.
       (b) Annual Report.--
       (1) In general.--Not later than December 31, 2008, and 
     December 31 of each year thereafter, the head of each 
     executive agency shall submit to Congress a report on 
     congressional initiatives for which amounts were appropriated 
     or otherwise made available for the fiscal year ending during 
     such year.
       (2) Content.--Each report submitted under paragraph (1) 
     shall include with respect to each contract and grant awarded 
     through a congressional initiative--
       (A) the name of the recipient of the funds awarded through 
     such contract or grant;
       (B) the reason or reasons such recipient was selected for 
     such contract or grant; and
       (C) the number of entities that competed for such contract 
     or grant.
       (3) Publication.--Each report submitted under paragraph (1) 
     shall be made publicly available through the Internet website 
     of the executive agency.
       (c) Definitions.--In this section:
       (1) Congressional initiative.--The term ``congressional 
     initiative'' means a provision of law or a directive 
     contained within a committee report or joint statement of 
     managers of an appropriations Act that specifies--
       (A) the identity of a person or entity selected to carry 
     out a project, including a defense system, for which funds 
     are appropriated or otherwise made available by that 
     provision of law or directive and that was not requested by 
     the President in a budget submitted to Congress; and
       (B) the amount of the funds appropriated or otherwise made 
     available for such project.
       (2) Executive agency.--The term ``executive agency'' has 
     the meaning given such term in section 4 of the Office of 
     Federal Procurement Policy Act (41 U.S.C. 403).
       (d) Applicability.--This section shall apply with respect 
     to funds appropriated or otherwise made available for fiscal 
     years beginning after September 30, 2007.
                                 ______
                                 
  SA 85. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 31 proposed by Mr. Feingold (for himself and Mr. Obama) to 
the amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, 
Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       On page 1, strike line 4 and all that follows and insert 
     the following:
       ``(3) Members of congress and elected officers.--Any person 
     who is a Member of Congress or an elected officer of either 
     House of Congress and who, within 2 years after that person 
     leaves office, knowingly engages in lobbying contacts, or 
     directs another individual to engage in lobbying contacts as 
     a surrogate for that person, in connection with any matter on 
     which such former Member of Congress or elected officer seeks 
     action by a Member, officer, or employee of either House of 
     Congress shall be punished as provided in section 216 of this 
     title.''.
       (3) in paragraph (6)--
       (A) by striking ``paragraphs (2), (3), and (4)'' and 
     inserting ``paragraph (2)'';
       (B) by striking ``(A)'';
       (C) by striking subparagraph (B); and
       (D) by redesignating the paragraph as paragraph (4); and
       (4) by redesignating paragraph (7) as paragraph (5).
       (c) Effective Date.--The amendments made by subsection (b) 
     shall take effect 60 days after the date of enactment of this 
     Act.
                                 ______
                                 
  SA 86. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 63 submitted by Mr. Feingold to the amendment SA 3 
proposed by Mr. Reid (for himself, Mr. McConnell, Mrs. Feinstein, Mr. 
Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. Salazar, and Mr. 
Durbin) to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:

       On page 2, strike line 19 and all that follows and insert 
     the following:
       ``(3) Members of congress and elected officers.--Any person 
     who is a Member of Congress or an elected officer of either 
     House of Congress and who, within 2 years after that person 
     leaves office, knowingly engages in lobbying contacts, or 
     directs another individual to engage in lobbying contacts as 
     a surrogate for that person, in connection with any matter on 
     which such former Member of Congress or elected officer seeks 
     action by a Member, officer, or employee of either House of 
     Congress shall be punished as provided in section 216 of this 
     title.''.
       (3) in paragraph (6)--
       (A) by striking ``paragraphs (2), (3), and (4)'' and 
     inserting ``paragraph (2)'';
       (B) by striking ``(A)'';
       (C) by striking subparagraph (B); and
       (D) by redesignating the paragraph as paragraph (4); and
       (4) by redesignating paragraph (7) as paragraph (5).
       (c) Effective Date.--The amendments made by subsection (b) 
     shall take effect 60 days after the date of enactment of this 
     Act.
                                 ______
                                 
  SA 87. Mr. COBURN submitted an amendment intended to be proposed by 
him to the bill S. 1, to provide greater transparency in the 
legislative process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. PROHIBITION ON USE OF EARMARKS TO AWARD NO BID 
                   CONTRACTS AND NONCOMPETITIVE GRANTS.

       (a) Prohibition.--
       (1) Contracts.--
       (A) In general.--Notwithstanding any other provision of 
     law, all contracts awarded through congressional initiatives 
     shall be awarded using competitive procedures in accordance 
     with the requirements of section 303 of the Federal Property 
     and Administrative Services Act of 1949 (41 U.S.C. 253), 
     section 2304 of title 10, United States Code, and the Federal 
     Acquisition Regulation.
       (B) Bid requirement.--No contract may be awarded through a 
     congressional initiative unless more than one bid is received 
     for such contract.
       (2) Grants.--Notwithstanding any other provision of law, no 
     funds may be awarded by grant or cooperative agreement 
     through a congressional initiative unless the process used to 
     award such grant or cooperative agreement uses competitive 
     procedures to select the grantee or award recipient. No such 
     grant may be awarded unless applications for such grant or 
     cooperative agreement are received from two or more 
     applicants that are not from the same organization and do not 
     share any financial, fiduciary, or other organizational 
     relationship.
       (b) Annual Report.--
       (1) In general.--Not later than December 31, 2008, and 
     December 31 of each year thereafter, the head of each 
     executive agency shall submit to Congress a report on 
     congressional initiatives for which amounts were appropriated 
     or otherwise made available for the fiscal year ending during 
     such year.
       (2) Content.--Each report submitted under paragraph (1) 
     shall include with respect to each contract and grant awarded 
     through a congressional initiative--
       (A) the name of the recipient of the funds awarded through 
     such contract or grant;
       (B) the reason or reasons such recipient was selected for 
     such contract or grant; and
       (C) the number of entities that competed for such contract 
     or grant.
       (3) Publication.--Each report submitted under paragraph (1) 
     shall be made publicly available through the Internet website 
     of the executive agency.
       (c) Definitions.--In this section:
       (1) Congressional initiative.--The term ``congressional 
     initiative'' means a provision of law or a directive 
     contained within a committee report or joint statement of 
     managers of an appropriations Act that specifies--
       (A) the identity of a person or entity selected to carry 
     out a project, including a defense system, for which funds 
     are appropriated or otherwise made available by that 
     provision of law or directive and that was not requested by 
     the President in a budget submitted to Congress; and
       (B) the amount of the funds appropriated or otherwise made 
     available for such project.
       (2) Executive agency.--The term ``executive agency'' has 
     the meaning given such term in section 4 of the Office of 
     Federal Procurement Policy Act (41 U.S.C. 403).
       (d) Applicability.--This section shall apply with respect 
     to funds appropriated or otherwise made available for fiscal 
     years beginning after September 30, 2007.
                                 ______
                                 
  SA 88. Mr. REID submitted an amendment intended to be proposed by him 
to the bill S. 1, to provide greater transparency in the legislative 
process; which was ordered to lie on the table; as follows:


[[Page 1284]]

       At the appropriate place, insert the following:

     SEC. __. LOBBYING DISCLOSURE.

       Section 5(b) of the Lobbying Disclosure Act of 1995 (2 
     U.S.C. 1604(b)), as amended by this Act, is amended by adding 
     at the end the following:
       ``(9) a certification that no employee listed as a lobbyist 
     under section 4(b)(6) or 5(b)(2)(C) serves as a treasurer or 
     other official on the campaign committee for a Federal 
     candidate or officeholder or for a leadership PAC.''.
                                 ______
                                 
  SA 89. Mr. REID submitted an amendment intended to be proposed by him 
to the bill S. 1, to provide greater transparency in the legislative 
process; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. LOBBYIST DISCLOSURE.

       Section 5(d) of the Act (2 U.S.C. 1604), as amended by this 
     Act, is amended by adding after paragraph (8) the following:
       ``(9) in the case of a covered lobbyist, the name of each 
     Federal candidate or officeholder or leadership PAC on which 
     the covered lobbyist serves as a treasurer or other 
     official.''.
                                 ______
                                 
  SA 90. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 41 proposed by Mr. Obama (for himself and Mr. Feingold) to 
the amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, 
Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       In lieu of the matter proposed to be inserted, insert the 
     following:

     SEC. 212. QUARTERLY REPORTS ON OTHER CONTRIBUTIONS.

       Section 5 of the Act (2 U.S.C. 1604) is amended by adding 
     at the end of the following:
       ``(d) Quarterly Reports on Contributions.--Not later than 
     45 days after the end of the quarterly period beginning on 
     the 20th day of January, April, July, and October of each 
     year or on the first business day after the 20th if that day 
     is not a business day, each registrant under section 4(a)(1) 
     or (2), and each employee who is listed as a lobbyist under a 
     current filing under section 4 or 5, shall file a report with 
     the Secretary of the Senate and the Clerk of the House of 
     Representatives containing--
       ``(1) the name of the registrant or covered lobbyist;
       ``(2) the employer of the lobbyist, in the case of an 
     employee listed as a covered lobbyist;
       ``(3) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee, to whom 
     aggregate contributions equal to or exceeding $200 were made 
     by the lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     calendar year, and the date of each contribution made within 
     the quarter;
       ``(4) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom a 
     fundraising event was hosted, co-hosted, or sponsored by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     quarter, and the date and location of such event;
       ``(5) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom 
     aggregate contributions equal to or exceeding $200 were 
     collected and delivered directly to the candidate within the 
     calendar year, and to the extent known the aggregate amount 
     of such contributions (or a good faith estimate thereof) 
     within the quarter for each recipient;
       ``(6) the date, recipient, and amount of funds contributed 
     or disbursed by, or arranged by, the registrant or covered 
     lobbyist within the last quarter--
       ``(A) to pay the cost of an event to honor or recognize a 
     covered legislative branch official or covered legislative 
     branch official;
       ``(B) to, or on behalf of, an entity that is named for a 
     covered legislative branch official, or to a person or entity 
     in recognition of such official;
       ``(C) to an entity established, financed, maintained, or 
     controlled by a covered legislative branch official or 
     covered legislative branch official, or an entity designated 
     by such official; or
       ``(D) to pay the costs of a meeting, retreat, conference, 
     or other similar event held by, or for the benefit of, 1 or 
     more covered legislative branch officials or covered 
     executive branch officials;

     except that this paragraph shall not apply to any payment or 
     reimbursement made from funds required to be reported under 
     section 304 of the Federal Election Campaign Act of 1971 (2 
     U.S.C. 434);
       ``(7) the date, recipient, and amount of any gift (that 
     under the rules of the House of Representatives or Senate 
     counts towards the $100 cumulative annual limit described in 
     such rules) valued in excess of $20 given by the registrant 
     or covered lobbyist within the past quarter to a covered 
     legislative branch official or covered executive branch 
     official; and
       ``(8) the name of each Presidential library foundation and 
     Presidential inaugural committee, to whom contributions equal 
     to or exceeding $200 were made by the registrant or covered 
     lobbyist during the past quarter, and the date and amount of 
     such contribution.

     For purposes of this subsection, the term `covered lobbyist' 
     means a lobbyist listed on a report under section 4(a)(1), 
     section 4(b)(6), or section 5(b)(2)(C) that was required to 
     be filed on the same day as the report filed under this 
     subsection. For purposes of paragraph (7), the term `gift' 
     means a gratuity, favor, discount, entertainment, 
     hospitality, loan, forbearance, or other item having monetary 
     value. The term includes gifts of services, training, 
     transportation, lodging, and meals, whether provided in-kind, 
     by purchase of a ticket, payment in advance, or reimbursement 
     after the expense has been incurred.''.
                                 ______
                                 
  SA 91. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 41 proposed by Mr. Obama (for himself and Mr. Feingold) to 
the amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, 
Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       In lieu of the matter proposed to be inserted, insert the 
     following:

     SEC. 212. QUARTERLY REPORTS ON OTHER CONTRIBUTIONS.

       Section 5 of the Act (2 U.S.C. 1604) is amended by adding 
     at the end of the following:
       ``(d) Quarterly Reports on Contributions.--Not later than 
     45 days after the end of the quarterly period beginning on 
     the 20th day of January, April, July, and October of each 
     year or on the first business day after the 20th if that day 
     is not a business day, each registrant under section 4(a)(1) 
     or (2), and each employee who is listed as a lobbyist under a 
     current filing under section 4 or 5, shall file a report with 
     the Secretary of the Senate and the Clerk of the House of 
     Representatives containing--
       ``(1) the name of the registrant or covered lobbyist;
       ``(2) the employer of the lobbyist, in the case of an 
     employee listed as a covered lobbyist;
       ``(3) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee, to whom 
     aggregate contributions equal to or exceeding $200 were made 
     by the lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     calendar year, and the date and amount of each contribution 
     made within the quarter;
       ``(4) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom a 
     fundraising event was hosted, co-hosted, or sponsored by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     quarter, and the date, location, and total amount (or good 
     faith estimate thereof) known by the registrant or employeee 
     filing under this subsection to have been raised at such 
     event;
       ``(5) the name of each covered legislative branch official 
     or covered executive branch official for whom the registrant 
     or covered lobbyist provided, or directed or arranged to be 
     provided, within the past quarter, any payment or 
     reimbursements for travel and related expenses in connection 
     with the duties of such covered official, including for each 
     such official--
       ``(A) an itemization of the payments or reimbursements 
     provided to finance the travel and related expenses and to 
     whom the payments or reimbursements were made with the 
     express or implied understanding or agreement that such funds 
     will be used for travel and related expenses;
       ``(B) the purpose and final itinerary of the trip, 
     including a description of all meetings, tours, events, and 
     outings attended;
       ``(C) whether the registrant or lobbyist traveled on any 
     such travel;
       ``(D) the identity of the listed sponsor or sponsors of 
     such travel; and
       ``(E) the identity of any person or entity, other than the 
     listed sponsor or sponsors of the travel, which directly or 
     indirectly provided for payment of travel and related 
     expenses at the request or suggestion of the registrant or 
     the lobbyist;
       ``(6) the date, recipient, and amount of funds contributed 
     or disbursed by, or arranged by, the registrant or covered 
     lobbyist within the last quarter--
       ``(A) to pay the cost of an event to honor or recognize a 
     covered legislative branch official or covered legislative 
     branch official;

[[Page 1285]]

       ``(B) to, or on behalf of, an entity that is named for a 
     covered legislative branch official, or to a person or entity 
     in recognition of such official;
       ``(C) to an entity established, financed, maintained, or 
     controlled by a covered legislative branch official or 
     covered legislative branch official, or an entity designated 
     by such official; or
       ``(D) to pay the costs of a meeting, retreat, conference, 
     or other similar event held by, or for the benefit of, 1 or 
     more covered legislative branch officials or covered 
     executive branch officials;

     except that this paragraph shall not apply to any payment or 
     reimbursement made from funds required to be reported under 
     section 304 of the Federal Election Campaign Act of 1971 (2 
     U.S.C. 434);
       ``(7) the date, recipient, and amount of any gift (that 
     under the rules of the House of Representatives or Senate 
     counts towards the $100 cumulative annual limit described in 
     such rules) valued in excess of $20 given by the registrant 
     or covered lobbyist within the past quarter to a covered 
     legislative branch official or covered executive branch 
     official; and
       ``(8) the name of each Presidential library foundation and 
     Presidential inaugural committee, to whom contributions equal 
     to or exceeding $200 were made by the registrant or covered 
     lobbyist during the past quarter, and the date and amount of 
     such contribution.

     For purposes of this subsection, the term `covered lobbyist' 
     means a lobbyist listed on a report under section 4(a)(1), 
     section 4(b)(6), or section 5(b)(2)(C) that was required to 
     be filed on the same day as the report filed under this 
     subsection. For purposes of paragraph (7), the term `gift' 
     means a gratuity, favor, discount, entertainment, 
     hospitality, loan, forbearance, or other item having monetary 
     value. The term includes gifts of services, training, 
     transportation, lodging, and meals, whether provided in-kind, 
     by purchase of a ticket, payment in advance, or reimbursement 
     after the expense has been incurred.''.
                                 ______
                                 
  SA 92. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 41 proposed by Mr. Obama (for himself and Mr. Feingold) to 
the amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, 
Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       In lieu of the matter proposed to be inserted, insert the 
     following:

     SEC. 212. QUARTERLY REPORTS ON OTHER CONTRIBUTIONS.

       Section 5 of the Act (2 U.S.C. 1604) is amended by adding 
     at the end of the following:
       ``(d) Quarterly Reports on Contributions.--Not later than 
     45 days after the end of the quarterly period beginning on 
     the 20th day of January, April, July, and October of each 
     year or on the first business day after the 20th if that day 
     is not a business day, each registrant under section 4(a)(1) 
     or (2), and each employee who is listed as a lobbyist under a 
     current filing under section 4 or 5, shall file a report with 
     the Secretary of the Senate and the Clerk of the House of 
     Representatives containing--
       ``(1) the name of the registrant or covered lobbyist;
       ``(2) the employer of the lobbyist, in the case of an 
     employee listed as a covered lobbyist;
       ``(3) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee, to whom 
     aggregate contributions equal to or exceeding $200 were made 
     by the lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     calendar year, and the date of each contribution made within 
     the quarter;
       ``(4) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom a 
     fundraising event was hosted, co-hosted, or sponsored by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     quarter, and the date and location of such event;
       ``(5) the name of each covered legislative branch official 
     or covered executive branch official for whom the registrant 
     or covered lobbyist provided, or directed or arranged to be 
     provided, within the past quarter, any payment or 
     reimbursements for travel and related expenses in connection 
     with the duties of such covered official, including for each 
     such official--
       ``(A) an itemization of the payments or reimbursements 
     provided to finance the travel and related expenses and to 
     whom the payments or reimbursements were made with the 
     express or implied understanding or agreement that such funds 
     will be used for travel and related expenses;
       ``(B) the purpose and final itinerary of the trip, 
     including a description of all meetings, tours, events, and 
     outings attended;
       ``(C) whether the registrant or lobbyist traveled on any 
     such travel;
       ``(D) the identity of the listed sponsor or sponsors of 
     such travel; and
       ``(E) the identity of any person or entity, other than the 
     listed sponsor or sponsors of the travel, which directly or 
     indirectly provided for payment of travel and related 
     expenses at the request or suggestion of the registrant or 
     the lobbyist;
       ``(6) the date, recipient, and amount of funds contributed 
     or disbursed by, or arranged by, the registrant or covered 
     lobbyist within the last quarter--
       ``(A) to pay the cost of an event to honor or recognize a 
     covered legislative branch official or covered legislative 
     branch official;
       ``(B) to, or on behalf of, an entity that is named for a 
     covered legislative branch official, or to a person or entity 
     in recognition of such official;
       ``(C) to an entity established, financed, maintained, or 
     controlled by a covered legislative branch official or 
     covered legislative branch official, or an entity designated 
     by such official; or
       ``(D) to pay the costs of a meeting, retreat, conference, 
     or other similar event held by, or for the benefit of, 1 or 
     more covered legislative branch officials or covered 
     executive branch officials;

     except that this paragraph shall not apply to any payment or 
     reimbursement made from funds required to be reported under 
     section 304 of the Federal Election Campaign Act of 1971 (2 
     U.S.C. 434);
       ``(7) the date, recipient, and amount of any gift (that 
     under the rules of the House of Representatives or Senate 
     counts towards the $100 cumulative annual limit described in 
     such rules) valued in excess of $20 given by the registrant 
     or covered lobbyist within the past quarter to a covered 
     legislative branch official or covered executive branch 
     official; and
       ``(8) the name of each Presidential library foundation and 
     Presidential inaugural committee, to whom contributions equal 
     to or exceeding $200 were made by the registrant or covered 
     lobbyist during the past quarter, and the date and amount of 
     such contribution.

     For purposes of this subsection, the term `covered lobbyist' 
     means a lobbyist listed on a report under section 4(a)(1), 
     section 4(b)(6), or section 5(b)(2)(C) that was required to 
     be filed on the same day as the report filed under this 
     subsection. For purposes of paragraph (7), the term `gift' 
     means a gratuity, favor, discount, entertainment, 
     hospitality, loan, forbearance, or other item having monetary 
     value. The term includes gifts of services, training, 
     transportation, lodging, and meals, whether provided in-kind, 
     by purchase of a ticket, payment in advance, or reimbursement 
     after the expense has been incurred.''.
                                 ______
                                 
  SA 93. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 41 proposed by Mr. Obama (for himself and Mr. Feingold) to 
the amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, 
Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       In lieu of the matter proposed to be inserted, insert the 
     following:

     SEC. 212. QUARTERLY REPORTS ON OTHER CONTRIBUTIONS.

       Section 5 of the Act (2 U.S.C. 1604) is amended by adding 
     at the end of the following:
       ``(d) Quarterly Reports on Contributions.--Not later than 
     45 days after the end of the quarterly period beginning on 
     the 20th day of January, April, July, and October of each 
     year or on the first business day after the 20th if that day 
     is not a business day, each registrant under section 4(a)(1) 
     or (2), and each employee who is listed as a lobbyist under a 
     current filing under section 4 or 5, shall file a report with 
     the Secretary of the Senate and the Clerk of the House of 
     Representatives containing--
       ``(1) the name of the registrant or covered lobbyist;
       ``(2) the employer of the lobbyist, in the case of an 
     employee listed as a covered lobbyist;
       ``(3) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee, to whom 
     aggregate contributions equal to or exceeding $200 were made 
     by the lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     calendar year, and the date and amount of each contribution 
     made within the quarter;
       ``(4) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom a 
     fundraising event was hosted, co-hosted, or sponsored by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     quarter, and the date, location, and total amount (or good 
     faith estimate thereof) known by the registrant or employee 
     filing under this subsection to have been raised at such 
     event;

[[Page 1286]]

       ``(5) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom 
     aggregate contributions equal to or exceeding $200 were 
     collected and delivered directly to the candidate within the 
     calendar year, and to the extent known the aggregate amount 
     of such contributions (or a good faith estimate thereof) 
     within the quarter for each recipient;
       ``(6) the date, recipient, and amount of funds contributed 
     or disbursed by, or arranged by, the registrant or covered 
     lobbyist within the last quarter--
       ``(A) to pay the cost of an event to honor or recognize a 
     covered legislative branch official or covered legislative 
     branch official;
       ``(B) to, or on behalf of, an entity that is named for a 
     covered legislative branch official, or to a person or entity 
     in recognition of such official;
       ``(C) to an entity established, financed, maintained, or 
     controlled by a covered legislative branch official or 
     covered legislative branch official, or an entity designated 
     by such official; or
       ``(D) to pay the costs of a meeting, retreat, conference, 
     or other similar event held by, or for the benefit of, 1 or 
     more covered legislative branch officials or covered 
     executive branch officials;

     except that this paragraph shall not apply to any payment or 
     reimbursement made from funds required to be reported under 
     section 304 of the Federal Election Campaign Act of 1971 (2 
     U.S.C. 434);
       ``(7) the date, recipient, and amount of any gift (that 
     under the rules of the House of Representatives or Senate 
     counts towards the $100 cumulative annual limit described in 
     such rules) valued in excess of $20 given by the registrant 
     or covered lobbyist within the past quarter to a covered 
     legislative branch official or covered executive branch 
     official; and
       ``(8) the name of each Presidential library foundation and 
     Presidential inaugural committee, to whom contributions equal 
     to or exceeding $200 were made by the registrant or covered 
     lobbyist during the past quarter, and the date and amount of 
     such contribution.

     For purposes of this subsection, the term `covered lobbyist' 
     means a lobbyist listed on a report under section 4(a)(1), 
     section 4(b)(6), or section 5(b)(2)(C) that was required to 
     be filed on the same day as the report filed under this 
     subsection. For purposes of paragraph (7), the term `gift' 
     means a gratuity, favor, discount, entertainment, 
     hospitality, loan, forbearance, or other item having monetary 
     value. The term includes gifts of services, training, 
     transportation, lodging, and meals, whether provided in-kind, 
     by purchase of a ticket, payment in advance, or reimbursement 
     after the expense has been incurred.''.
                                 ______
                                 
  SA 94. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 76 submitted by Mr. Feingold (for himself and Mr. Obama) 
to the amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, 
Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       In lieu of the matter proposed to be inserted, insert the 
     following:

     SEC. 212. QUARTERLY REPORTS ON OTHER CONTRIBUTIONS.

       Section 5 of the Act (2 U.S.C. 1604) is amended by adding 
     at the end of the following:
       ``(d) Quarterly Reports on Contributions.--Not later than 
     45 days after the end of the quarterly period beginning on 
     the 20th day of January, April, July, and October of each 
     year or on the first business day after the 20th if that day 
     is not a business day, each registrant under section 4(a)(1) 
     or (2), and each employee who is listed as a lobbyist under a 
     current filing under section 4 or 5, shall file a report with 
     the Secretary of the Senate and the Clerk of the House of 
     Representatives containing--
       ``(1) the name of the registrant or covered lobbyist;
       ``(2) the employer of the lobbyist, in the case of an 
     employee listed as a covered lobbyist;
       ``(3) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee, to whom 
     aggregate contributions equal to or exceeding $200 were made 
     by the lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     calendar year, and the date and amount of each contribution 
     made within the quarter;
       ``(4) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom a 
     fundraising event was hosted, co-hosted, or sponsored by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     quarter, and the date, location, and total amount (or good 
     faith estimate thereof) known by the registrant or employeee 
     filing under this subsection to have been raised at such 
     event;
       ``(5) the name of each covered legislative branch official 
     or covered executive branch official for whom the registrant 
     or covered lobbyist provided, or directed or arranged to be 
     provided, within the past quarter, any payment or 
     reimbursements for travel and related expenses in connection 
     with the duties of such covered official, including for each 
     such official--
       ``(A) an itemization of the payments or reimbursements 
     provided to finance the travel and related expenses and to 
     whom the payments or reimbursements were made with the 
     express or implied understanding or agreement that such funds 
     will be used for travel and related expenses;
       ``(B) the purpose and final itinerary of the trip, 
     including a description of all meetings, tours, events, and 
     outings attended;
       ``(C) whether the registrant or lobbyist traveled on any 
     such travel;
       ``(D) the identity of the listed sponsor or sponsors of 
     such travel; and
       ``(E) the identity of any person or entity, other than the 
     listed sponsor or sponsors of the travel, which directly or 
     indirectly provided for payment of travel and related 
     expenses at the request or suggestion of the registrant or 
     the lobbyist;
       ``(6) the date, recipient, and amount of funds contributed 
     or disbursed by, or arranged by, the registrant or covered 
     lobbyist within the last quarter--
       ``(A) to pay the cost of an event to honor or recognize a 
     covered legislative branch official or covered legislative 
     branch official;
       ``(B) to, or on behalf of, an entity that is named for a 
     covered legislative branch official, or to a person or entity 
     in recognition of such official;
       ``(C) to an entity established, financed, maintained, or 
     controlled by a covered legislative branch official or 
     covered legislative branch official, or an entity designated 
     by such official; or
       ``(D) to pay the costs of a meeting, retreat, conference, 
     or other similar event held by, or for the benefit of, 1 or 
     more covered legislative branch officials or covered 
     executive branch officials;

     except that this paragraph shall not apply to any payment or 
     reimbursement made from funds required to be reported under 
     section 304 of the Federal Election Campaign Act of 1971 (2 
     U.S.C. 434);
       ``(7) the date, recipient, and amount of any gift (that 
     under the rules of the House of Representatives or Senate 
     counts towards the $100 cumulative annual limit described in 
     such rules) valued in excess of $20 given by the registrant 
     or covered lobbyist within the past quarter to a covered 
     legislative branch official or covered executive branch 
     official; and
       ``(8) the name of each Presidential library foundation and 
     Presidential inaugural committee, to whom contributions equal 
     to or exceeding $200 were made by the registrant or covered 
     lobbyist during the past quarter, and the date and amount of 
     such contribution.

     For purposes of this subsection, the term `covered lobbyist' 
     means a lobbyist listed on a report under section 4(a)(1), 
     section 4(b)(6), or section 5(b)(2)(C) that was required to 
     be filed on the same day as the report filed under this 
     subsection. For purposes of paragraph (7), the term `gift' 
     means a gratuity, favor, discount, entertainment, 
     hospitality, loan, forbearance, or other item having monetary 
     value. The term includes gifts of services, training, 
     transportation, lodging, and meals, whether provided in-kind, 
     by purchase of a ticket, payment in advance, or reimbursement 
     after the expense has been incurred.''.
                                 ______
                                 
  SA 95. Mr. REID submitted an amendment intended to be proposed to 
amendment SA 76 submitted by Mr. Feingold (for himself and Mr. Obama) 
to the amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, 
Mrs. Feinstein, Mr. Bennett, Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       In lieu of the matter proposed to be inserted, insert the 
     following:

     SEC. 212. QUARTERLY REPORTS ON OTHER CONTRIBUTIONS.

       Section 5 of the Act (2 U.S.C. 1604) is amended by adding 
     at the end of the following:
       ``(d) Quarterly Reports on Contributions.--Not later than 
     45 days after the end of the quarterly period beginning on 
     the 20th day of January, April, July, and October of each 
     year or on the first business day after the 20th if that day 
     is not a business day, each registrant under section 4(a)(1) 
     or (2), and each employee who is listed as a lobbyist under a 
     current filing under section 4 or 5, shall file a report with 
     the Secretary of the Senate and the Clerk of the House of 
     Representatives containing--
       ``(1) the name of the registrant or covered lobbyist;
       ``(2) the employer of the lobbyist, in the case of an 
     employee listed as a covered lobbyist;
       ``(3) the name of each Federal candidate or officeholder, 
     leadership PAC, or political

[[Page 1287]]

     party committee, to whom aggregate contributions equal to or 
     exceeding $200 were made by the lobbyist, the registrant, or 
     a political committee established or administered by the 
     registrant within the calendar year, and the date of each 
     contribution made within the quarter;
       ``(4) the name of each Federal candidate or officeholder, 
     leadership PAC, or political party committee for whom a 
     fundraising event was hosted, co-hosted, or sponsored by the 
     lobbyist, the registrant, or a political committee 
     established or administered by the registrant within the 
     quarter, and the date and location of such event;
       ``(5) the name of each covered legislative branch official 
     or covered executive branch official for whom the registrant 
     or covered lobbyist provided, or directed or arranged to be 
     provided, within the past quarter, any payment or 
     reimbursements for travel and related expenses in connection 
     with the duties of such covered official, including for each 
     such official--
       ``(A) an itemization of the payments or reimbursements 
     provided to finance the travel and related expenses and to 
     whom the payments or reimbursements were made with the 
     express or implied understanding or agreement that such funds 
     will be used for travel and related expenses;
       ``(B) the purpose and final itinerary of the trip, 
     including a description of all meetings, tours, events, and 
     outings attended;
       ``(C) whether the registrant or lobbyist traveled on any 
     such travel;
       ``(D) the identity of the listed sponsor or sponsors of 
     such travel; and
       ``(E) the identity of any person or entity, other than the 
     listed sponsor or sponsors of the travel, which directly or 
     indirectly provided for payment of travel and related 
     expenses at the request or suggestion of the registrant or 
     the lobbyist;
       ``(6) the date, recipient, and amount of funds contributed 
     or disbursed by, or arranged by, the registrant or covered 
     lobbyist within the last quarter--
       ``(A) to pay the cost of an event to honor or recognize a 
     covered legislative branch official or covered legislative 
     branch official;
       ``(B) to, or on behalf of, an entity that is named for a 
     covered legislative branch official, or to a person or entity 
     in recognition of such official;
       ``(C) to an entity established, financed, maintained, or 
     controlled by a covered legislative branch official or 
     covered legislative branch official, or an entity designated 
     by such official; or
       ``(D) to pay the costs of a meeting, retreat, conference, 
     or other similar event held by, or for the benefit of, 1 or 
     more covered legislative branch officials or covered 
     executive branch officials;

     except that this paragraph shall not apply to any payment or 
     reimbursement made from funds required to be reported under 
     section 304 of the Federal Election Campaign Act of 1971 (2 
     U.S.C. 434);
       ``(7) the date, recipient, and amount of any gift (that 
     under the rules of the House of Representatives or Senate 
     counts towards the $100 cumulative annual limit described in 
     such rules) valued in excess of $20 given by the registrant 
     or covered lobbyist within the past quarter to a covered 
     legislative branch official or covered executive branch 
     official; and
       ``(8) the name of each Presidential library foundation and 
     Presidential inaugural committee, to whom contributions equal 
     to or exceeding $200 were made by the registrant or covered 
     lobbyist during the past quarter, and the date and amount of 
     such contribution.

     For purposes of this subsection, the term `covered lobbyist' 
     means a lobbyist listed on a report under section 4(a)(1), 
     section 4(b)(6), or section 5(b)(2)(C) that was required to 
     be filed on the same day as the report filed under this 
     subsection. For purposes of paragraph (7), the term `gift' 
     means a gratuity, favor, discount, entertainment, 
     hospitality, loan, forbearance, or other item having monetary 
     value. The term includes gifts of services, training, 
     transportation, lodging, and meals, whether provided in-kind, 
     by purchase of a ticket, payment in advance, or reimbursement 
     after the expense has been incurred.''.
                                 ______
                                 
  SA 96. Ms. LANDRIEU submitted an amendment intended to be proposed to 
amendment SA 3 proposed by Mr. Reid (for himself, Mr. McConnell, Mrs. 
Feinstein, Mr. Bennett Mr. Lieberman, Ms. Collins, Mr. Obama, Mr. 
Salazar, and Mr. Durbin) to the bill S. 1, to provide greater 
transparency in the legislative process; which was ordered to lie on 
the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. SENIOR CONGRESSIONAL SERVICE.

       (a) Study and Report.--The General Accountability Office, 
     in consultation with the Congressional Management Foundation, 
     shall conduct a study and prepare a report relating to--
       (1) the need for establishing a Senior Congressional 
     Service, similar to the Senior Executive Service in the 
     executive branch, in order to promote the recruitment and 
     retention of highly competent senior congressional staff;
       (2) the design of a Senior Congressional Service, 
     including--
       (A) criteria for identifying the types of personnel or 
     positions which would be appropriate for inclusion;
       (B) appropriate levels or ranges of basic pay; and
       (C) any special allowances, opportunities for professional 
     development, and other conditions of employment which would 
     be appropriate;
       (3) any other recommendations, including proposed 
     legislation, necessary for the establishment of a Senior 
     Congressional Service; and
       (4) any other measure which would increase retention rates 
     for highly qualified congressional staff and diminish 
     revolving door patterns of employment between Congress and 
     lobbying firms.
       (b) Submission of Report.--Not later than 180 days after 
     the date of enactment of this Act, the General Accountability 
     Office shall submit the report under this section to each 
     House of Congress.

                                 ______
                                 
  SA 97. Mr. LAUTENBERG (for himself and Mr. Lott) submitted an 
amendment intended to be proposed by him to the bill S. 294, to 
reauthorize Amtrak, and for other purposes; which was referred to the 
Committee on Commerce, Science, and Transportation; as follows:

       On page 3, before line 1, after the item relating to 
     section 416, insert the following:

                      TITLE V--RAIL BOND AUTHORITY

Sec. 501. Intercity rail facility bonds.

                  TITLE VI--RAIL INFRASTRUCTURE BONDS

Sec. 601. Short title.
Sec. 602. Tax credit to holders of qualified rail infrastructure bonds.
       At the end of the bill, add the following:

                      TITLE V--RAIL BOND AUTHORITY

     SEC. 501. INTERCITY RAIL FACILITY BONDS.

       (a) In General.--Chapter 261 is amended by adding at the 
     end the following:

     ``Sec. 26106. Rail infrastructure bonds

       ``(a) Designation.--The Secretary may designate bonds for 
     purposes of section 54A of the Internal Revenue Code of 1986 
     if--
       ``(1) the bonds are to be issued by--
       ``(A) a State, if the entire railroad passenger 
     transportation corridor containing the infrastructure project 
     to be financed is within the State;
       ``(B) 1 or more of the States that have entered into an 
     agreement or an interstate compact consented to by Congress 
     under section 410(a) of Public Law 105-134 (49 U.S.C. 24101 
     note);
       ``(C) an agreement or an interstate compact described in 
     subparagraph (B); or
       ``(D) Amtrak, for capital projects under its 5-year plan;
       ``(2) the bonds are for the purpose of financing projects 
     that make a substantial contribution to providing the 
     infrastructure and equipment required to complete or improve 
     a rail transportation corridor (including projects for the 
     acquisition, financing, or refinancing of equipment and other 
     capital improvements, including the introduction of new high-
     speed technologies such as magnetic levitation systems, track 
     or signal improvements, the elimination of grade crossings, 
     development of intermodal facilities, improvement of train 
     speeds or safety, or both, and station rehabilitation or 
     construction), but only if the Secretary determines that the 
     projects are part of a viable and comprehensive rail 
     transportation corridor design for intercity passenger 
     service included in a State rail plan under chapter 225 
     (except for bonds issued under paragraph (1)(D)); and
       ``(3) for a railroad passenger transportation corridor not 
     operated by Amtrak that includes the use of rights-of-way 
     owned by a freight railroad, a written agreement exists 
     between the applicant and the freight railroad regarding such 
     use and ownership, including compensation for such use and 
     assurances regarding the adequacy of infrastructure capacity 
     to accommodate both existing and future freight and passenger 
     operations, and including an assurance by the freight 
     railroad that collective bargaining agreements with the 
     freight railroad's employees (including terms regulating the 
     contracting of work) shall remain in full force and effect 
     according to their terms for work performed by the freight 
     railroad on such railroad passenger transportation corridor.
       ``(b) Bond Amount Limitation.--
       ``(1) In general.--The amount of bonds designated under 
     this section may not exceed in the case of section 54A bonds, 
     $1,300,000,000 for each of the fiscal years 2007 through 
     2012.
       ``(2) Carryover of unused limitation.--If for any fiscal 
     year the limitation amount under paragraph (1) exceeds the 
     amount of section 54A bonds issued during such year, the 
     limitation amount under paragraph (1) for the following 
     fiscal year (through fiscal year 2019) shall be increased by 
     the amount of such excess.
       ``(c) Project Selection Criteria.--The Secretary shall give 
     preference to the designation under this section of bonds for

[[Page 1288]]

     projects selected using the criteria in chapter 244.
       ``(d) Timely Disposition of Application.--The Secretary 
     shall grant or deny a requested designation within 9 months 
     after receipt of an application.
       ``(e) Refinancing Rules.--Bonds designated by the Secretary 
     under subsection (a) may be issued for refinancing projects 
     only if the indebtedness being refinanced (including any 
     obligation directly or indirectly refinanced by such 
     indebtedness) was originally incurred by the issuer--
       ``(1) after the date of the enactment of this section;
       ``(2) for a term of not more than 3 years;
       ``(3) to finance projects described in subsection (a)(2); 
     and
       ``(4) in anticipation of being refinanced with proceeds of 
     a bond designated under subsection (a).
       ``(f) Application of Conditions.--Any entity providing 
     railroad transportation (within the meaning of section 20102) 
     that begins operations after the date of the enactment of 
     this section and that uses property acquired pursuant to this 
     section (except as provided in subsection (a)(2)(B)), shall 
     be subject to the conditions under section 24405.
       ``(g) Issuance of Regulations.--Not later than 6 months 
     after the date of the enactment of the Passenger Rail 
     Investment and Improvement Act of 2007, the Secretary shall 
     issue regulations for carrying out this section.
       ``(h) Section 54A Defined.--In this section, the term 
     `section 54A bond' means a bond designated by the Secretary 
     under subsection (a) for purposes of section 54A of the 
     Internal Revenue Code of 1986 (relating to credit to holders 
     of qualified rail infrastructure bonds).''.
       (b) Conforming Amendment.--The table of sections for 
     chapter 261 is amended by adding after the item relating to 
     section 26105 the following new item:

``26106. Rail infrastructure bonds.''.

                  TITLE VI--RAIL INFRASTRUCTURE BONDS

     SEC. 601. SHORT TITLE.

       This title may be cited as the ``Passenger Rail Investment 
     and Improvement Financing Act of 2007''.

     SEC. 602. TAX CREDIT TO HOLDERS OF QUALIFIED RAIL 
                   INFRASTRUCTURE BONDS.

       (a) In General.--Part IV of subchapter A of chapter 1 of 
     the Internal Revenue Code of 1986 (relating to credits 
     against tax) is amended by adding at the end the following 
     new subpart:

    ``Subpart H--Nonrefundable Credit for Holders of Qualified Rail 
                          Infrastructure Bonds

``Sec. 54A. Credit to holders of qualified rail infrastructure bonds.

     ``SEC. 54A. CREDIT TO HOLDERS OF QUALIFIED RAIL 
                   INFRASTRUCTURE BONDS.

       ``(a) Allowance of Credit.--In the case of a taxpayer who 
     holds a qualified rail infrastructure bond on a credit 
     allowance date of such bond which occurs during the taxable 
     year, there shall be allowed as a credit against the tax 
     imposed by this chapter for such taxable year an amount equal 
     to the sum of the credits determined under subsection (b) 
     with respect to credit allowance dates during such year on 
     which the taxpayer holds such bond.
       ``(b) Amount of Credit.--
       ``(1) In general.--The amount of the credit determined 
     under this subsection with respect to any credit allowance 
     date for a qualified rail infrastructure bond is 25 percent 
     of the annual credit determined with respect to such bond.
       ``(2) Annual credit.--The annual credit determined with 
     respect to any qualified rail infrastructure bond is the 
     product of--
       ``(A) the applicable credit rate, multiplied by
       ``(B) the outstanding face amount of the bond.
       ``(3) Applicable credit rate.--For purposes of paragraph 
     (2), the applicable credit rate with respect to an issue is 
     the rate equal to an average market yield (as of the day 
     before the date of sale of the issue) on outstanding long-
     term corporate debt obligations (determined under regulations 
     prescribed by the Secretary).
       ``(4) Credit allowance date.--For purposes of this section, 
     the term `credit allowance date' means--
       ``(A) March 15,
       ``(B) June 15,
       ``(C) September 15, and
       ``(D) December 15.
     Such term includes the last day on which the bond is 
     outstanding.
       ``(5) Special rule for issuance and redemption.--In the 
     case of a bond which is issued during the 3-month period 
     ending on a credit allowance date, the amount of the credit 
     determined under this subsection with respect to such credit 
     allowance date shall be a ratable portion of the credit 
     otherwise determined based on the portion of the 3-month 
     period during which the bond is outstanding. A similar rule 
     shall apply when the bond is redeemed.
       ``(c) Limitation Based on Amount of Tax.--
       ``(1) In general.--The credit allowed under subsection (a) 
     for any taxable year shall not exceed the excess of--
       ``(A) the sum of the regular tax liability (as defined in 
     section 26(b)) plus the tax imposed by section 55, over
       ``(B) the sum of the credits allowable under this part 
     (other than this subpart and subpart C).
       ``(2) Carryover of unused credit.--If the credit allowable 
     under subsection (a) exceeds the limitation imposed by 
     paragraph (1) for such taxable year, such excess shall be 
     carried to the succeeding taxable year and added to the 
     credit allowable under subsection (a) for such taxable year.
       ``(d) Credit Included in Gross Income.--Gross income 
     includes the amount of the credit allowed to the taxpayer 
     under this section (determined without regard to subsection 
     (c)) and the amount so included shall be treated as interest 
     income.
       ``(e) Credits May Be Stripped.--Under regulations 
     prescribed by the Secretary--
       ``(1) In general.--There may be a separation (including at 
     issuance) of the ownership of a qualified rail infrastructure 
     bond and the entitlement to the credit under this section 
     with respect to such bond. In case of any such separation, 
     the credit under this section shall be allowed to the person 
     who on the credit allowance date holds the instrument 
     evidencing the entitlement to the credit and not to the 
     holder of the bond.
       ``(2) Certain rules to apply.--In the case of a separation 
     described in paragraph (1), the rules of section 1286 shall 
     apply to the qualified rail infrastructure bond as if it were 
     a stripped bond and to the credit under this section as if it 
     were a stripped coupon.
       ``(f) Qualified Rail Infrastructure Bond.--For purposes of 
     this part, the term `qualified rail infrastructure bond' 
     means any bond issued as part of an issue if--
       ``(1) the issuer certifies that the Secretary of 
     Transportation has designated the bond for purposes of this 
     section under section 26106(a) of title 49, United States 
     Code, as in effect on the date of the enactment of this 
     section,
       ``(2) 95 percent or more of the proceeds from the sale of 
     such issue are to be used for expenditures incurred after the 
     date of the enactment of this section for any project 
     described in section 26106(a)(2) of title 49, United States 
     Code,
       ``(3) the term of each bond which is part of such issue 
     does not exceed 20 years,
       ``(4) the payment of principal with respect to such bond is 
     the obligation solely of the issuer, and
       ``(5) the issue meets the requirements of subsection (f) 
     (relating to arbitrage).
       ``(g) Special Rules Relating to Arbitrage.--
       ``(1) In general.--Subject to paragraph (2), an issue shall 
     be treated as meeting the requirements of this subsection if 
     as of the date of issuance, the issuer reasonably expects--
       ``(A) to spend at least 95 percent of the proceeds from the 
     sale of the issue for 1 or more qualified projects within the 
     3-year period beginning on such date,
       ``(B) to incur a binding commitment with a third party to 
     spend at least 10 percent of the proceeds from the sale of 
     the issue, or to commence construction, with respect to such 
     projects within the 6-month period beginning on such date, 
     and
       ``(C) to proceed with due diligence to complete such 
     projects and to spend the proceeds from the sale of the 
     issue.
       ``(2) Rules regarding continuing compliance after 3-year 
     determination.--If at least 95 percent of the proceeds from 
     the sale of the issue is not expended for 1 or more qualified 
     projects within the 3-year period beginning on the date of 
     issuance, but the requirements of paragraph (1) are otherwise 
     met, an issue shall be treated as continuing to meet the 
     requirements of this subsection if either--
       ``(A) the issuer uses all unspent proceeds from the sale of 
     the issue to redeem bonds of the issue within 90 days after 
     the end of such 3-year period, or
       ``(B) the following requirements are met:
       ``(i) The issuer spends at least 75 percent of the proceeds 
     from the sale of the issue for 1 or more qualified projects 
     within the 3-year period beginning on the date of issuance.
       ``(ii) Either--

       ``(I) the issuer spends at least 95 percent of the proceeds 
     from the sale of the issue for 1 or more qualified projects 
     within the 4-year period beginning on the date of issuance, 
     or
       ``(II) the issuer pays to the Federal Government any 
     earnings on the proceeds from the sale of the issue that 
     accrue after the end of the 3-year period beginning on the 
     date of issuance and uses all unspent proceeds from the sale 
     of the issue to redeem bonds of the issue within 90 days 
     after the end of the 4-year period beginning on the date of 
     issuance.

       ``(h) Recapture of Portion of Credit Where Cessation of 
     Compliance.--
       ``(1) In general.--If any bond which when issued purported 
     to be a qualified rail infrastructure bond ceases to be such 
     a qualified bond, the issuer shall pay to the United States 
     (at the time required by the Secretary) an amount equal to 
     the sum of--
       ``(A) the aggregate of the credits allowable under this 
     section with respect to such bond (determined without regard 
     to subsection (c)) for taxable years ending during the 
     calendar year in which such cessation occurs and the 2 
     preceding calendar years, and
       ``(B) interest at the underpayment rate under section 6621 
     on the amount determined

[[Page 1289]]

     under subparagraph (A) for each calendar year for the period 
     beginning on the first day of such calendar year.
       ``(2) Failure to pay.--If the issuer fails to timely pay 
     the amount required by paragraph (1) with respect to such 
     bond, the tax imposed by this chapter on each holder of any 
     such bond which is part of such issue shall be increased (for 
     the taxable year of the holder in which such cessation 
     occurs) by the aggregate decrease in the credits allowed 
     under this section to such holder for taxable years beginning 
     in such 3 calendar years which would have resulted solely 
     from denying any credit under this section with respect to 
     such issue for such taxable years.
       ``(3) Special rules.--
       ``(A) Tax benefit rule.--The tax for the taxable year shall 
     be increased under paragraph (2) only with respect to credits 
     allowed by reason of this section which were used to reduce 
     tax liability. In the case of credits not so used to reduce 
     tax liability, the carryforwards under subsection (c) shall 
     be appropriately adjusted.
       ``(B) No credits against tax.--Any increase in tax under 
     paragraph (2) shall not be treated as a tax imposed by this 
     chapter for purposes of determining--
       ``(i) the amount of any credit allowable under this part, 
     or
       ``(ii) the amount of the tax imposed by section 55.
       ``(i) Other Definitions and Special Rules.--For purposes of 
     this section--
       ``(1) Bond.--The term `bond' includes any obligation.
       ``(2) Qualified project.--The term `qualified project' 
     means any project described in section 26106(a)(2) of title 
     49, United States Code.
       ``(3) Treatment of changes in use.--For purposes of 
     subsection (e)(2), the proceeds from the sale of an issue 
     shall not be treated as used for a qualified project to the 
     extent that the issuer takes any action within its control 
     which causes such proceeds not to be used for a qualified 
     project. The Secretary shall prescribe regulations specifying 
     remedial actions that may be taken (including conditions to 
     taking such remedial actions) to prevent an action described 
     in the preceding sentence from causing a bond to fail to be a 
     qualified rail infrastructure bond.
       ``(4) Partnership; s corporation; and other pass-thru 
     entities.--Under regulations prescribed by the Secretary, in 
     the case of a partnership, trust, S corporation, or other 
     pass-thru entity, rules similar to the rules of section 41(g) 
     shall apply with respect to the credit allowable under 
     subsection (a).
       ``(5) Bonds held by regulated investment companies.--If any 
     qualified rail infrastructure bond is held by a regulated 
     investment company, the credit determined under subsection 
     (a) shall be allowed to shareholders of such company under 
     procedures prescribed by the Secretary.
       ``(6) Reporting.--Issuers of qualified rail infrastructure 
     bonds shall submit reports similar to the reports required 
     under section 149(e).''.
       (b) Amendments to Other Code Sections.--
       (1) Reporting.--Subsection (d) of section 6049 of the 
     Internal Revenue Code of 1986 (relating to returns regarding 
     payments of interest) is amended by adding at the end the 
     following new paragraph:
       ``(8) Reporting of credit on qualified rail infrastructure 
     bonds.--
       ``(A) In general.--For purposes of subsection (a), the term 
     `interest' includes amounts includible in gross income under 
     section 54A(d) and such amounts shall be treated as paid on 
     the credit allowance date (as defined in section 54A(b)(4)).
       ``(B) Reporting to corporations, etc.--Except as otherwise 
     provided in regulations, in the case of any interest 
     described in subparagraph (A), subsection (b)(4) shall be 
     applied without regard to subparagraphs (A), (H), (I), (J), 
     (K), and (L)(i) of such subsection.
       ``(C) Regulatory authority.--The Secretary may prescribe 
     such regulations as are necessary or appropriate to carry out 
     the purposes of this paragraph, including regulations which 
     require more frequent or more detailed reporting.''.
       (2) Treatment for estimated tax purposes.--
       (A) Individual.--Section 6654 of such Code (relating to 
     failure by individual to pay estimated income tax) is amended 
     by redesignating subsection (m) as subsection (n) and by 
     inserting after subsection (l) the following new subsection:
       ``(m) Special Rule for Holders of Qualified Rail 
     Infrastructure Bonds.--For purposes of this section, the 
     credit allowed by section 54A to a taxpayer by reason of 
     holding a qualified rail infrastructure bond on a credit 
     allowance date shall be treated as if it were a payment of 
     estimated tax made by the taxpayer on such date.''.
       (B) Corporate.--Section 6655 of such Code (relating to 
     failure by corporation to pay estimated income tax) is 
     amended by adding at the end of subsection (g) the following 
     new paragraph:
       ``(5) Special rule for holders of qualified rail 
     infrastructure bonds.--For purposes of this section, the 
     credit allowed by section 54A to a taxpayer by reason of 
     holding a qualified rail infrastructure bond on a credit 
     allowance date shall be treated as if it were a payment of 
     estimated tax made by the taxpayer on such date.''.
       (c) Clerical Amendments.--
       (1) The table of subparts for part IV of subchapter A of 
     chapter 1 is amended by adding at the end the following new 
     item:

    ``Subpart H. Nonrefundable Credit for Holders of Qualified Rail 
                        Infrastructure Bonds''.

       (2) Section 6401(b)(1) is amended by striking ``and G'' and 
     inserting ``G, and H''.
       (d) Issuance of Regulations.--Not later than 6 months after 
     the date of the enactment of this section, the Secretary of 
     the Treasury shall issue regulations for carrying out this 
     section and the amendments made by this section.
       (e) Intercity Rail Facilities.--Section 142(i) of the 
     Internal Revenue Code of 1986 is amended by adding at the end 
     the following new paragraph:
       ``(4) Additional requirements.--A bond issued as part of an 
     issue described in subsection (a)(11) shall not be considered 
     an exempt facility bond unless the requirements of paragraphs 
     (1) through (4) of section 26106(a) of title 49, United 
     States Code, are met.''.
       (f) Effective Date.--The amendments made by this section 
     shall apply to obligations issued after the date of the 
     enactment of this Act.

                          ____________________