To prohibit lobbyists and entities that retain or employ lobbyists from throwing lavish parties honoring Members at party conventions.

AMENDMENTS SUBMITTED AND PROPOSED

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.
SA 60. Mrs. FEINSTEIN submitted an amendment intended to be
proposed by her to the bill S. 1, supra; which was ordered to
lie on the table.
SA 61. Mr. CARPER submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 62. Ms. LANDRIEU submitted an amendment intended to be
proposed by her to the bill S. 1, supra; which was ordered to
lie on the table.
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, supra.
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, supra.
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, supra.
SA 66. Mrs. BOXER submitted an amendment intended to be
proposed by her to the bill S. 1, supra; which was ordered to
lie on the table.
SA 67. Mr. REID submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 68. Mr. REID submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 69. Mr. REID submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
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, supra.
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, supra.
SA 72. Mr. HARKIN submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 73. Mr. HARKIN submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 74. Mr. REID submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 75. Mr. REID submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
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, supra.
SA 77. Mr. DURBIN submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
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, supra.
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, supra.
SA 80. Mr. COBURN submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
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, supra.
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, supra;
which was ordered to lie on the table.
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

[[Page S613]]

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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to lie on
the table.
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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to lie on the table.
SA 87. Mr. COBURN submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 88. Mr. REID submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
SA 89. Mr. REID submitted an amendment intended to be
proposed by him to the bill S. 1, supra; which was ordered to
lie on the table.
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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to
lie on the table.
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, supra; which was ordered to lie on the table.
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.
______

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; 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

[[Page S614]]

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 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.''.

[[Page S615]]

(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.
(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)'';

[[Page S616]]

(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.''.
______

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.--

[[Page S617]]

(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 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--

[[Page S618]]

``(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 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.--

[[Page S619]]

(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 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

[[Page S620]]

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.
``(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.

[[Page S621]]

``(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:

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)'';

[[Page S622]]

(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:

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

[[Page S623]]

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;
``(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;

[[Page S624]]

``(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;
``(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

[[Page S625]]

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 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

[[Page S626]]

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
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

[[Page S627]]

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 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.

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