To prohibit the use of Federal funds to construct ethanol blender pumps or ethanol storage facilities.

TEXT OF AMENDMENTS

SA 389. Mr. KOHL submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end of the bill, insert the following:

SEC. ___. NOPEC.

(a) Short Title.--This section may be cited as the ``No Oil
Producing and Exporting Cartels Act of 2011'' or ``NOPEC''.
(b) Sherman Act.--The Sherman Act (15 U.S.C. 1 et seq.) is
amended by adding after section 7 the following:

``SEC. 7A. OIL PRODUCING CARTELS.

``(a) In General.--It shall be illegal and a violation of
this Act for any foreign state, or any instrumentality or
agent of any foreign state, to act collectively or in
combination with any other foreign state, any instrumentality
or agent of any other foreign state, or any other person,
whether by cartel or any other association or form of
cooperation or joint action--
``(1) to limit the production or distribution of oil,
natural gas, or any other petroleum product;
``(2) to set or maintain the price of oil, natural gas, or
any petroleum product; or
``(3) to otherwise take any action in restraint of trade
for oil, natural gas, or any petroleum product;

when such action, combination, or collective action has a
direct, substantial, and reasonably foreseeable effect on the
market, supply, price, or distribution of oil, natural gas,
or other petroleum product in the United States.
``(b) Sovereign Immunity.--A foreign state engaged in
conduct in violation of subsection (a) shall not be immune
under the doctrine of sovereign immunity from the
jurisdiction or judgments of the courts of the United States
in any action brought to enforce this section.
``(c) Inapplicability of Act of State Doctrine.--No court
of the United States shall decline, based on the act of state
doctrine, to make a determination on the merits in an action
brought under this section.
``(d) Enforcement.--
``(1) In general.--The Attorney General of the United
States may bring an action to enforce this section in any
district court of the United States as provided under the
antitrust laws.
``(2) No private right of action.--No private right of
action is authorized under this section.''.
(c) Sovereign Immunity.--Section 1605(a) of title 28,
United States Code, is amended--
(1) in paragraph (5), by striking ``or'' after the
semicolon;
(2) in paragraph (6), by striking the period and inserting
``; or''; and
(3) by adding at the end the following:
``(7) in which the action is brought under section 7A of
the Sherman Act.''.
______

SA 390. Ms. SNOWE (for herself, Mr. Coburn, Mr. McConnell, Mr.
Barrasso, Mr. Brown of Massachusetts, Mr. Moran, Mr. Thune, Mr. Enzi,
Ms. Ayotte, and Mr. Isakson) submitted an amendment intended to be
proposed by her to the bill S. 782, to amend the Public Works and
Economic Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end, add the following:

TITLE ___--FREEDOM FROM RESTRICTIVE EXCESSIVE EXECUTIVE DEMANDS AND
ONEROUS MANDATES

SEC. ___1. SHORT TITLE.

This title may be cited as the ``Freedom from Restrictive
Excessive Executive Demands and Onerous Mandates Act of
2011''.

SEC. ___2. FINDINGS.

Congress finds the following:
(1) A vibrant and growing small business sector is critical
to the recovery of the economy of the United States.
(2) Regulations designed for application to large-scale
entities have been applied uniformly to small businesses and
other small entities, sometimes inhibiting the ability of
small entities to create new jobs.
(3) Uniform Federal regulatory and reporting requirements
in many instances have imposed on small businesses and other
small entities unnecessary and disproportionately burdensome
demands, including legal, accounting, and consulting costs,
thereby threatening the viability of small entities and the
ability of small entities to compete and create new jobs in a
global marketplace.
(4) Since 1980, Federal agencies have been required to
recognize and take account of the differences in the scale
and resources of regulated entities, but in many instances
have failed to do so.
(5) In 2009, there were nearly 70,000 pages in the Federal
Register, and, according to research by the Office of
Advocacy of the Small Business Administration, the annual
cost of Federal regulations totals $1,750,000,000,000. Small
firms bear a disproportionate burden, paying approximately 36
percent more per employee than larger firms in annual
regulatory compliance costs.
(6) All agencies in the Federal Government should fully
consider the costs, including indirect economic impacts and
the potential for job loss, of proposed rules, periodically
review existing regulations to determine their impact on
small entities, and repeal regulations that are unnecessarily
duplicative or have outlived their stated purpose.
(7) It is the intention of Congress to amend chapter 6 of
title 5, United States Code, to

[[Page S3554]]

ensure that all impacts, including foreseeable indirect
effects, of proposed and final rules are considered by
agencies during the rulemaking process and that the agencies
assess a full range of alternatives that will limit adverse
economic consequences, enhance economic benefits, and fully
address potential job loss.

SEC. ___3. INCLUDING INDIRECT ECONOMIC IMPACT IN SMALL ENTITY
ANALYSES.

Section 601 of title 5, United States Code, is amended by
adding at the end the following:
``(9) the term `economic impact' means, with respect to a
proposed or final rule--
``(A) the economic effects on small entities directly
regulated by the rule; and
``(B) the reasonably foreseeable economic effects of the
rule on small entities that--
``(i) purchase products or services from, sell products or
services to, or otherwise conduct business with entities
directly regulated by the rule;
``(ii) are directly regulated by other governmental
entities as a result of the rule; or
``(iii) are not directly regulated by the agency as a
result of the rule but are otherwise subject to other agency
regulations as a result of the rule.''.

SEC. ___4. JUDICIAL REVIEW TO ALLOW SMALL ENTITIES TO
CHALLENGE PROPOSED REGULATIONS.

Section 611(a) of title 5, United States Code, is amended--
(1) in paragraph (1), by inserting ``603,'' after ``601,'';
(2) in paragraph (2), by inserting ``603,'' after ``601,'';
(3) by striking paragraph (3) and inserting the following:
``(3) A small entity may seek such review during the 1-year
period beginning on the date of final agency action, except
that--
``(A) if a provision of law requires that an action
challenging a final agency action be commenced before the
expiration of 1 year, the lesser period shall apply to an
action for judicial review under this section; and
``(B) in the case of noncompliance with section 603 or
605(b), a small entity may seek judicial review of agency
compliance with such section before the close of the public
comment period.''; and
(4) in paragraph (4)--
(A) in subparagraph (A), by striking ``, and'' and
inserting a semicolon;
(B) in subparagraph (B), by striking the period and
inserting ``; or''; and
(C) by adding at the end the following:
``(C) issuing an injunction prohibiting an agency from
taking any agency action with respect to a rulemaking until
that agency is in compliance with the requirements of section
603 or 605.''.

SEC. ___5. PERIODIC REVIEW.

Section 610 of title 5, United States Code, is amended to
read as follows:

``Sec. 610. Periodic review of rules

``(a)(1) Not later than 180 days after the date of
enactment of the Freedom from Restrictive Excessive Executive
Demands and Onerous Mandates Act of 2011, each agency shall
establish a plan for the periodic review of--
``(A) each rule issued by the agency that the head of the
agency determines has a significant economic impact on a
substantial number of small entities, without regard to
whether the agency performed an analysis under section 604
with respect to the rule; and
``(B) any small entity compliance guide required to be
published by the agency under section 212 of the Small
Business Regulatory Enforcement Fairness Act of 1996 (5
U.S.C. 601 note).
``(2) In reviewing rules and small entity compliance guides
under paragraph (1), the agency shall determine whether the
rules and guides should--
``(A) be amended or rescinded, consistent with the stated
objectives of applicable statutes, to minimize any
significant adverse economic impacts on a substantial number
of small entities (including an estimate of any adverse
impacts on job creation and employment by small entities); or
``(B) continue in effect without change.
``(3) Each agency shall publish the plan established under
paragraph (1) in the Federal Register and on the Web site of
the agency.
``(4) An agency may amend the plan established under
paragraph (1) at any time by publishing the amendment in the
Federal Register and on the Web site of the agency.
``(b) Each plan established under subsection (a) shall
provide for--
``(1) the review of each rule and small entity compliance
guide described in subsection (a)(1) in effect on the date of
enactment of the Freedom from Restrictive Excessive Executive
Demands and Onerous Mandates Act of 2011--
``(A) not later than 9 years after the date of publication
of the plan in the Federal Register; and
``(B) every 9 years thereafter; and
``(2) the review of each rule adopted and small entity
compliance guide described in subsection (a)(1) that is
published after the date of enactment of the Freedom from
Restrictive Excessive Executive Demands and Onerous Mandates
Act of 2011--
``(A) not later than 9 years after the publication of the
final rule in the Federal Register; and
``(B) every 9 years thereafter.
``(c) In reviewing rules under the plan required under
subsection (a), the agency shall consider--
``(1) the continued need for the rule;
``(2) the nature of complaints received by the agency from
small entities concerning the rule;
``(3) comments by the Regulatory Enforcement Ombudsman and
the Chief Counsel for Advocacy of the Small Business
Administration;
``(4) the complexity of the rule;
``(5) the extent to which the rule overlaps, duplicates, or
conflicts with other Federal rules and, unless the head of
the agency determines it to be infeasible, State and local
rules;
``(6) the contribution of the rule to the cumulative
economic impact of all Federal rules on the class of small
entities affected by the rule, unless the head of the agency
determines that such a calculation cannot be made;
``(7) the length of time since the rule has been evaluated,
or the degree to which technology, economic conditions, or
other factors have changed in the area affected by the rule;
and
``(8) the economic impact of the rule, including--
``(A) the estimated number of small entities to which the
rule will apply;
``(B) the estimated number of small entity jobs that will
be lost or created due to the rule; and
``(C) the projected reporting, recordkeeping, and other
compliance requirements of the proposed rule, including--
``(i) an estimate of the classes of small entities that
will be subject to the requirement; and
``(ii) the type of professional skills necessary for
preparation of the report or record.
``(d)(1) Each agency shall submit an annual report
regarding the results of the review required under subsection
(a) to--
``(A) Congress; and
``(B) in the case of an agency that is not an independent
regulatory agency (as defined in section 3502(5) of title
44), the Administrator of the Office of Information and
Regulatory Affairs of the Office of Management and Budget.
``(2) Each report required under paragraph (1) shall
include a description of any rule or guide with respect to
which the agency made a determination of infeasibility under
paragraph (5) or (6) of subsection (c), together with a
detailed explanation of the reasons for the determination.
``(e) Each agency shall publish in the Federal Register and
on the Web site of the agency a list of the rules and small
entity compliance guides to be reviewed under the plan
required under subsection (a) that includes--
``(1) a brief description of each rule or guide;
``(2) for each rule, the reason why the head of the agency
determined that the rule has a significant economic impact on
a substantial number of small entities (without regard to
whether the agency had prepared a final regulatory
flexibility analysis for the rule); and
``(3) a request for comments from the public, the Chief
Counsel for Advocacy of the Small Business Administration,
and the Regulatory Enforcement Ombudsman concerning the
enforcement of the rules or publication of the guides.
``(f)(1) Not later than 6 months after each date described
in subsection (b)(1), the Inspector General for each agency
shall--
``(A) determine whether the agency has conducted the review
required under subsection (b) appropriately; and
``(B) notify the head of the agency of--
``(i) the results of the determination under subparagraph
(A); and
``(ii) any issues preventing the Inspector General from
determining that the agency has conducted the review under
subsection (b) appropriately.
``(2)(A) Not later than 6 months after the date on which
the head of an agency receives a notice under paragraph
(1)(B) that the agency has not conducted the review under
subsection (b) appropriately, the agency shall address the
issues identified in the notice.
``(B) Not later than 30 days after the last day of the 6-
month period described in subparagraph (A), the Inspector
General for an agency that receives a notice described in
subparagraph (A) shall--
``(i) determine whether the agency has addressed the issues
identified in the notice; and
``(ii) notify Congress if the Inspector General determines
that the agency has not addressed the issues identified in
the notice; and
``(C) Not later than 30 days after the date on which the
Inspector General for an agency transmits a notice under
subparagraph (B)(ii), an amount equal to 1 percent of the
amount appropriated for the fiscal year to the appropriations
account of the agency that is used to pay salaries shall be
rescinded.
``(D) Nothing in this paragraph may be construed to prevent
Congress from acting to prevent a rescission under
subparagraph (C).''.

SEC. ___6. REQUIRING SMALL BUSINESS REVIEW PANELS FOR
ADDITIONAL AGENCIES.

(a) Agencies.--Section 609 of title 5, United States Code,
is amended--
(1) in subsection (b)--
(A) by striking ``a covered agency'' the first place it
appears and inserting ``an agency designated under subsection
(d)''; and
(B) by striking ``a covered agency'' each place it appears
and inserting ``the agency'';

[[Page S3555]]

(2) by striking subsection (d), as amended by section
1100G(a) of Public Law 111-203 (124 Stat. 2112), and
inserting the following:
``(d)(1)(A) On and after the date of enactment of the
Freedom from Restrictive Excessive Executive Demands and
Onerous Mandates Act of 2011, the Environmental Protection
Agency and the Occupational Safety and Health Administration
of the Department of Labor shall be--
``(i) agencies designated under this subsection; and
``(ii) subject to the requirements of subsection (b).
``(B) On and after the designated transfer date established
under section 1062 of Public Law 111-203 (12 U.S.C. 5582),
the Bureau of Consumer Financial Protection shall be--
``(i) an agency designated under this subsection; and
``(ii) subject to the requirements of subsection (b).
``(2) The Chief Counsel for Advocacy shall designate as
agencies that shall be subject to the requirements of
subsection (b) on and after the date of the designation--
``(A) 3 agencies for the first year after the date of
enactment of the Freedom from Restrictive Excessive Executive
Demands and Onerous Mandates Act of 2011;
``(B) in addition to the agencies designated under
subparagraph (A), 3 agencies for the second year after the
date of enactment of the Freedom from Restrictive Excessive
Executive Demands and Onerous Mandates Act of 2011; and
``(C) in addition to the agencies designated under
subparagraphs (A) and (B), 3 agencies for the third year
after the date of enactment of the Freedom from Restrictive
Excessive Executive Demands and Onerous Mandates Act of 2011.
``(3) The Chief Counsel for Advocacy shall designate
agencies under paragraph (2) based on the economic impact of
the rules of the agency on small entities, beginning with
agencies with the largest economic impact on small
entities.''; and
(3) in subsection (e)(1), by striking ``the covered
agency'' and inserting ``the agency''.
(b) Technical and Conforming Amendments.--
(1) Section 603.--Section 603(d) of title 5, United States
Code, as added by section 1100G(b) of Public Law 111-203 (124
Stat. 2112), is amended--
(A) in paragraph (1), by striking ``a covered agency, as
defined in section 609(d)(2)'' and inserting ``the Bureau of
Consumer Financial Protection''; and
(B) in paragraph (2), by striking ``A covered agency, as
defined in section 609(d)(2),'' and inserting ``The Bureau of
Consumer Financial Protection''.
(2) Section 604.--Section 604(a) of title 5, United States
Code, is amended--
(A) by redesignating the second paragraph designated as
paragraph (6) (relating to covered agencies), as added by
section 1100G(c)(3) of Public Law 111-203 (124 Stat. 2113),
as paragraph (7); and
(B) in paragraph (7), as so redesignated--
(i) by striking ``a covered agency, as defined in section
609(d)(2)'' and inserting ``the Bureau of Consumer Financial
Protection''; and
(ii) by striking ``the agency'' and inserting ``the
Bureau''.
(3) Effective date.--The amendments made by this subsection
shall take effect on the date of enactment of this Act and
apply on and after the designated transfer date established
under section 1062 of Public Law 111-203 (12 U.S.C. 5582).

SEC. ___7. EXPANDING THE REGULATORY FLEXIBILITY ACT TO AGENCY
GUIDANCE DOCUMENTS.

Section 601(2) of title 5, United States Code, is amended
by inserting after ``public comment'' the following: ``and
any significant guidance document, as defined in the Office
of Management and Budget Final Bulletin for Agency Good
Guidance Procedures (72 Fed. Reg. 3432; January 25, 2007)''.

SEC. ___8. REQUIRING THE INTERNAL REVENUE SERVICE TO CONSIDER
SMALL ENTITY IMPACT.

(a) In General.--Section 603(a) of title 5, United States
Code, is amended, in the fifth sentence, by striking ``but
only'' and all that follows through the period at the end and
inserting ``but only to the extent that such interpretative
rules, or the statutes upon which such rules are based,
impose on small entities a collection of information
requirement or a recordkeeping requirement.''.
(b) Definitions.--Section 601 of title 5, United States
Code, as amended by section 3 of this title, is amended--
(1) in paragraph (6), by striking ``and'' at the end; and
(2) by striking paragraphs (7) and (8) and inserting the
following:
``(7) the term `collection of information' has the meaning
given that term in section 3502(3) of title 44;
``(8) the term `recordkeeping requirement' has the meaning
given that term in section 3502(13) of title 44; and''.

SEC. ___9. REPORTING ON ENFORCEMENT ACTIONS RELATING TO SMALL
ENTITIES.

Section 223 of the Small Business Regulatory Enforcement
Fairness Act of 1996 (5 U.S.C. 601 note) is amended--
(1) in subsection (a)--
(A) by striking ``Each agency'' and inserting the
following:
``(1) Establishment of policy or program.--Each agency'';
and
(B) by adding at the end the following:
``(2) Review of civil penalties.--Not later than 2 years
after the date of enactment of the Freedom from Restrictive
Excessive Executive Demands and Onerous Mandates Act of 2011,
and every 2 years thereafter, each agency regulating the
activities of small entities shall review the civil penalties
imposed by the agency for violations of a statutory or
regulatory requirement by a small entity to determine whether
a reduction or waiver of the civil penalties is
appropriate.''; and
(2) in subsection (c)--
(A) by striking ``Agencies shall report'' and all that
follows through ``the scope'' and inserting ``Not later than
2 years after the date of enactment of the Freedom from
Restrictive Excessive Executive Demands and Onerous Mandates
Act of 2011, and every 2 years thereafter, each agency shall
submit to the Committee on Small Business and
Entrepreneurship and the Committee on Homeland Security and
Governmental Affairs of the Senate and the Committee on Small
Business and the Committee on the Judiciary of the House of
Representatives a report discussing the scope''; and
(B) by striking ``and the total amount of penalty
reductions and waivers'' and inserting ``the total amount of
penalty reductions and waivers, and the results of the most
recent review under subsection (a)(2)''.

SEC. ___10. REQUIRING MORE DETAILED SMALL ENTITY ANALYSES.

(a) Initial Regulatory Flexibility Analysis.--Section 603
of title 5, United States Code, as amended by section
1100G(b) of Public Law 111-203 (124 Stat. 2112), is amended--
(1) by striking subsection (b) and inserting the following:
``(b) Each initial regulatory flexibility analysis required
under this section shall contain a detailed statement--
``(1) describing the reasons why action by the agency is
being considered;
``(2) describing the objectives of, and legal basis for,
the proposed rule;
``(3) estimating the number and type of small entities to
which the proposed rule will apply;
``(4) describing the projected reporting, recordkeeping,
and other compliance requirements of the proposed rule,
including an estimate of the classes of small entities which
will be subject to the requirement and the type of
professional skills necessary for preparation of the report
and record;
``(5) describing all relevant Federal rules which may
duplicate, overlap, or conflict with the proposed rule, or
the reasons why such a description could not be provided; and
``(6) estimating the additional cumulative economic impact
of the proposed rule on small entities, including job loss by
small entities, beyond that already imposed on the class of
small entities by the agency, or the reasons why such an
estimate is not available.''; and
(2) by adding at the end the following:
``(e) An agency shall notify the Chief Counsel for Advocacy
of the Small Business Administration of any draft rules that
may have a significant economic impact on a substantial
number of small entities--
``(1) when the agency submits a draft rule to the Office of
Information and Regulatory Affairs of the Office of
Management and Budget under Executive Order 12866, if that
order requires the submission; or
``(2) if no submission to the Office of Information and
Regulatory Affairs is required--
``(A) a reasonable period before publication of the rule by
the agency; and
``(B) in any event, not later than 3 months before the date
on which the agency publishes the rule.''.
(b) Final Regulatory Flexibility Analysis.--
(1) In general.--Section 604(a) of title 5, United States
Code, is amended--
(A) by inserting ``detailed'' before ``description'' each
place it appears;
(B) in paragraph (2)--
(i) by inserting ``detailed'' before ``statement'' each
place it appears; and
(ii) by inserting ``(or certification of the proposed rule
under section 605(b))'' after ``initial regulatory
flexibility analysis'';
(C) in paragraph (4), by striking ``an explanation'' and
inserting ``a detailed explanation''; and
(D) in paragraph (6) (relating to a description of steps
taken to minimize significant economic impact), as added by
section 1601 of the Small Business Jobs Act of 2010 (Public
Law 111-240; 124 Stat. 2251), by inserting ``detailed''
before ``statement''.
(2) Publication of analysis on web site, etc.--Section
604(b) of title 5, United States Code, is amended to read as
follows:
``(b) The agency shall--
``(1) make copies of the final regulatory flexibility
analysis available to the public, including by publishing the
entire final regulatory flexibility analysis on the Web site
of the agency; and
``(2) publish in the Federal Register the final regulatory
flexibility analysis, or a summary of the analysis that
includes the telephone number, mailing address, and address
of the Web site where the complete final regulatory
flexibility analysis may be obtained.''.
(c) Cross-References to Other Analyses.--Section 605(a) of
title 5, United States Code, is amended to read as follows:
``(a) A Federal agency shall be deemed to have satisfied a
requirement regarding the content of a regulatory flexibility
agenda or regulatory flexibility analysis under section 602,
603, or 604, if the Federal agency provides in the agenda or
regulatory flexibility analysis a cross-reference to the
specific portion of an agenda or analysis that is required by

[[Page S3556]]

another law and that satisfies the requirement under section
602, 603, or 604.''.
(d) Certifications.--Section 605(b) of title 5, United
States Code, is amended, in the second sentence, by striking
``statement providing the factual'' and inserting ``detailed
statement providing the factual and legal''.
(e) Quantification Requirements.--Section 607 of title 5,
United States Code, is amended to read as follows:

``Sec. 607. Quantification requirements

``In complying with sections 603 and 604, an agency shall
provide--
``(1) a quantifiable or numerical description of the
effects of the proposed or final rule, including an estimate
of the potential for job loss, and alternatives to the
proposed or final rule; or
``(2) a more general descriptive statement regarding the
potential for job loss and a detailed statement explaining
why quantification under paragraph (1) is not practicable or
reliable.''.

SEC. ___11. ENSURING THAT AGENCIES CONSIDER SMALL ENTITY
IMPACT DURING THE RULEMAKING PROCESS.

Section 605(b) of title 5, United States Code, is amended--
(1) by inserting ``(1)'' after ``(b)''; and
(2) by adding at the end the following:
``(2) If, after publication of the certification required
under paragraph (1), the head of the agency determines that
there will be a significant economic impact on a substantial
number of small entities, the agency shall comply with the
requirements of section 603 before the publication of the
final rule, by--
``(A) publishing an initial regulatory flexibility analysis
for public comment; or
``(B) re-proposing the rule with an initial regulatory
flexibility analysis.
``(3) The head of an agency may not make a certification
relating to a rule under this subsection, unless the head of
the agency has determined--
``(A) the average cost of the rule for small entities
affected or reasonably presumed to be affected by the rule;
``(B) the number of small entities affected or reasonably
presumed to be affected by the rule; and
``(C) the number of affected small entities for which that
cost will be significant.
``(4) Before publishing a certification and a statement
providing the factual basis for the certification under
paragraph (1), the head of an agency shall--
``(A) transmit a copy of the certification and statement to
the Chief Counsel for Advocacy of the Small Business
Administration; and
``(B) consult with the Chief Counsel for Advocacy of the
Small Business Administration on the accuracy of the
certification and statement.''.

SEC. ___12. ADDITIONAL POWERS OF THE OFFICE OF ADVOCACY.

Section 203 of Public Law 94-305 (15 U.S.C. 634c) is
amended--
(1) in paragraph (5), by striking ``and'' at the end;
(2) in paragraph (6), by striking the period at the end and
inserting ``; and''; and
(3) by inserting after paragraph (6) the following:
``(7) at the discretion of the Chief Counsel for Advocacy,
comment on regulatory action by an agency that affects small
businesses, without regard to whether the agency is required
to file a notice of proposed rulemaking under section 553 of
title 5, United States Code, with respect to the action.''.

SEC. ___13. FUNDING AND OFFSETS.

(a) Authorization.--There are authorized to be appropriated
to the Small Business Administration, for any costs of
carrying out this title and the amendments made by this title
(including the costs of hiring additional employees)--
(1) $1,000,000 for fiscal year 2012;
(2) $2,000,000 for fiscal year 2013; and
(3) $3,000,000 for fiscal year 2014.
(b) Repeals.--In order to offset the costs of carrying out
this title and the amendments made by this title and to
reduce the Federal deficit, the following provisions of law
are repealed, effective on the date of enactment of this Act:
(1) Section 21(n) of the Small Business Act (15 U.S.C.
648).
(2) Section 27 of the Small Business Act (15 U.S.C. 654).
(3) Section 1203(c) of the Energy Security and Efficiency
Act of 2007 (15 U.S.C. 657h(c)).

SEC. ___14. TECHNICAL AND CONFORMING AMENDMENTS.

(a) Heading.--Section 605 of title 5, United States Code,
is amended in the section heading by striking ``Avoidance''
and all that follows and inserting the following:
``Incorporations by reference and certification.''.
(b) Table of Sections.--The table of sections for chapter 6
of title 5, United States Code, is amended--
(1) by striking the item relating to section 605 and
inserting the following:

``605. Incorporations by reference and certifications.'';

and
(2) by striking the item relating to section 607 inserting
the following:

``607. Quantification requirements.''.
______

SA 391. Mr. MORAN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end, add the following:

SEC. 22. CONSUMER FINANCIAL PROTECTION AGENCY.

(a) Establishment of the Agency.--Section 1011 of the
Consumer Financial Protection Act of 2010 (12 U.S.C. 5491) is
amended to read as follows:

``SEC. 1011. ESTABLISHMENT OF THE CONSUMER FINANCIAL
PROTECTION AGENCY.

``(a) Agency Established.--There is established the
Consumer Financial Protection Agency, which shall regulate
the offering and provision of consumer financial products or
services under the Federal consumer financial laws. The
Agency shall be considered an executive agency, as defined in
section 105 of title 5, United States Code. Except as
otherwise expressly provided by law, all Federal laws dealing
with public or Federal contracts, property, works, officers,
employees, budgets, or funds, including the provisions of
chapters 5 and 7 of title 5, United States Code, shall apply
to the exercise of the powers of the Agency.
``(b) Establishment of a Board of Directors.--
``(1) In general.--The management of the Agency shall be
vested in a Board of Directors, consisting of 6 Directors--
``(A) 1 of whom shall be the Comptroller of the Currency;
``(B) 1 of whom shall be the Chairperson of the
Corporation;
``(C) 1 of whom shall be the Chairman of the Board of
Governors; and
``(D) 3 of whom shall be appointed by the President, by and
with the advice and consent of the Senate, from among
individuals who are citizens of the United States and have
demonstrated understanding of financial regulation and
consumer financial protection.
``(2) Political affiliation.--Not more than 2 Directors
appointed under paragraph (1)(D) may belong to the same
political party.
``(3) Chair and vice chair.--
``(A) Chair.--One of the appointed Director shall be
designated by the President, by and with the advice and
consent of the Senate, to serve as Chair of the Board of
Directors.
``(B) Vice chair.--One of the appointed Director shall be
designated by the President, by and with the advice and
consent of the Senate, to serve as Vice Chair of the Board of
Directors.
``(C) Acting chair.--In the event of a vacancy in the
position of Chair of the Board of Directors, or during the
absence or disability of the Chair, the Vice Chair shall act
as Chair.
``(4) Quorum.--Three Directors shall constitute a quorum
for the transaction of business.
``(c) Terms.--
``(1) Appointed directors.--Each appointed Director shall
be appointed for a term of 5 years, unless sooner removed by
the President, upon reason to be communicated by the
President to the Senate.
``(2) Interim appointments.--Any Director appointed to fill
a vacancy occurring before the expiration of the term for
which such member's predecessor was appointed shall be
appointed only for the remainder of such term.
``(3) Continuation of service.--The Chair, Vice Chair, and
each appointed Director may continue to serve after the
expiration of the term of office to which such member was
appointed until a successor has been appointed and qualified.
``(4) Vacancy.--
``(A) In general.--In the event that any appointed Director
is removed by the President pursuant to paragraph (1), or
otherwise vacates the position before the expiration of the
term for which that member was appointed, such vacancy shall
be filled by the President in accordance with the procedures
set forth in subsection (b)(1)(D), and the appointed Director
shall complete only the remainder of the term existing at the
time of the vacancy.
``(B) No impairment by reason of vacancy.--No vacancy in
the membership of the Board of Directors shall impair the
right of the remaining Directors to exercise all the powers
of the Board of Directors.
``(d) Service Restrictions.--
``(1) In general.--No Director may--
``(A) hold any office, position, or employment in any
Federal reserve bank, Federal home loan bank, covered person,
or service provider; or
``(B) hold stock in any covered person or service provider
while serving as a Director.
``(2) Certification.--Upon taking office, each Director
shall certify under oath that such member has complied with
this subsection, which certification shall be filed with the
Board of Directors.
``(e) Exercise of Authority of the Agency.--Prior to
carrying out any authority granted to the Agency or any
Director, a majority of the Board of Directors shall vote
affirmatively to authorize the Agency or such member to take
such action.
``(f) Offices.--The principal office of the Agency shall be
in the District of Columbia.''.
(b) Bringing the Bureau Into the Regular Appropriations
Process.--Section 1017 of the Consumer Financial Protection
Act of 2010 (12 U.S.C. 5497) is amended--
(1) in subsection (a)--
(A) by striking the subsection heading and inserting the
following: ``Budget, Financial Management, and Audit.--'';
(B) by striking paragraphs (1), (2), and (3);

[[Page S3557]]

(C) by redesignating paragraphs (4) and (5) as paragraphs
(1) and (2), respectively; and
(D) in paragraph (1), as so redesignated, by striking
subparagraphs (E) and (F); and
(2) by striking subsections (b) through (e) and inserting
the following:
``(b) Authorization of Appropriations.--There is authorized
to be appropriated to the Bureau, to carry out this title,
not more than $143,000,000 for fiscal year 2011.''.
(c) Safety and Soundness Check.--Section 1022(b)(2)(A) of
the Consumer Financial Protection Act of 2010 (12 U.S.C.
5497(b)) is amended--
(1) in clause (i), by striking ``and'' at the end;
(2) in clause (ii), by inserting ``and'' at the end; and
(3) by adding at the end the following:
``(iii) the impact of such rule on the financial safety or
soundness of an insured depository institution;''.
(d) Consumer Financial Protection Act of 2010 Conforming
Amendments.--
(1) In general.--Except as provided in paragraph (2), the
Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et
seq.) is amended--
(A) by striking ``Bureau'' each place that term appears in
relation to the Bureau of Consumer Financial Protection and
inserting ``Agency'';
(B) by striking ``Director of the'' each place such term
appears in relation to the Director of the Bureau of Consumer
Financial Protection;
(C) by striking ``Director'' each place such term appears,
except where such term is used to refer to a Director other
than the Director of the Bureau of Consumer Financial
Protection, and inserting ``Board of Directors''; and
(D) in section 1002 (12 U.S.C. 5481)--
(i) by striking paragraph (2) and inserting the following:
``(2) Agency.--The term `Agency' means the Consumer
Financial Protection Agency established under this title.'';
and
(ii) by striking paragraph (10) and inserting the
following:
``(10) Directors.--The terms `Board of Directors' and
`Director' mean the board of directors of the Agency and a
member thereof, respectively.''.
(2) Exceptions.--The Consumer Financial Protection Act of
2010 (12 U.S.C. 5481 et seq.) is amended--
(A) in section 1012(c)(4) (12 U.S.C. 5492(c)(4)), by
striking ``Director'' each place such term appears and
inserting ``Board of Directors'';
(B) in section 1013(c)(3) (12 U.S.C. 5493(c)(3))--
(i) by striking ``Assistant Director of the Bureau for''
and inserting ``head of the Office of''; and
(ii) in subparagraph (B), by striking ``Assistant
Director'' and inserting ``Head of the Office'';
(C) in section 1013(g)(2) (12 U.S.C. 5493(g)(2))--
(i) in the paragraph heading, by striking ``Assistant
director'' and inserting ``Head of the office''; and
(ii) by striking ``an assistant director'' and inserting
``a Head of the Office of Financial Protection for Older
Americans'';
(D) in section 1016(a) (12 U.S.C. 5496(a)), by striking
``Director of the Bureau'' and inserting ``Chair of the Board
of Directors of the Agency''; and
(E) in section 1066(a) (12 U.S.C. 5586(a)), by striking
``Director of the Bureau is'' and inserting ``first member of
the Board of Directors is''.
(e) Dodd-Frank Wall Street Reform and Consumer Protection
Act Conforming Amendments.--The Dodd-Frank Wall Street Reform
and Consumer Protection Act (Public Law 111-203) is amended--
(1) in section 2 (12 U.S.C. 5301), by striking paragraph
(4) and inserting the following:
``(4) Agency definitions.--The--
``(A) term `Agency' means the Consumer Financial Protection
Agency established under title X; and
``(B) terms `Board of Directors' and `Director' mean the
board of directors of the Agency and a member thereof,
respectively.'';
(2) in section 111(b)(1)(D) (12 U.S.C. 5321), by striking
``Director'' and inserting ``Chair of the Board of Directors
of the Agency''; and
(3) in section 1447 (12 U.S.C. 1701p-2), by striking
``Director of the Bureau'' each place that term appears and
inserting ``Chair of the Board of Directors of the Agency''.
(f) Electronic Fund Transfer Act Conforming Amendments.--
The Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.) is
amended--
(1) effective on the date of enactment of this Act, in
section 920(a)(4)(C) (15 U.S.C. 1693o-2(a)(4)(C)), as added
by section 1075(a)(2) of the Consumer Financial Protection
Act of 2010, is amended by striking ``Director of the Bureau
of Consumer Financial Protection'' and inserting ``Chair of
the Board of Directors of the Consumer Financial Protection
Agency''; and
(2) effective as of the effective date of subtitle H of the
Consumer Financial Protection Act of 2010--
(A) in section 903 (15 U.S.C. 1693a), by striking the
second paragraph designated as paragraph (4) (as added by
section 1084(2)(B) of the Consumer Financial Protection Act
of 2010) and inserting the following:
``(4) the term `Agency' means the Consumer Financial
Protection Agency;''; and
(B) by striking ``Bureau'' each place that term appears and
inserting ``Agency''.
(g) Expedited Funds Availability Act Conforming
Amendments.--
(1) In general.--The Expedited Funds Availability Act (12
U.S.C. 4001 et seq.), as amended by section 1086 of the
Consumer Financial Protection Act of 2010, is amended by
striking ``Director of the Bureau of Consumer Financial
Protection'' each place that term appears and inserting
``Consumer Financial Protection Agency''.
(2) Effective date.--The amendments made by this subsection
shall become effective on the day after the effective date of
the amendments made by subtitle H of the Consumer Financial
Protection Act of 2010.
(h) Federal Deposit Insurance Act Conforming Amendments.--
The Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is
amended--
(1) by striking ``Bureau of Consumer Financial Protection''
each place that term appears and inserting ``Consumer
Financial Protection Agency'';
(2) by striking ``Bureau'' each place that term appears in
the context of the Bureau of Consumer Financial Protection,
and inserting ``Consumer Financial Protection Agency''; and
(3) in section 2 (12 U.S.C. 1812), as amended by section
336(a) of the Dodd-Frank Wall Street Reform and Consumer
Protection Act, is amended by striking ``Director of the
Consumer Financial Protection Bureau'' each place that term
appears and inserting ``Chair of the Board of Directors of
the Consumer Financial Protection Agency''.
(i) Federal Financial Institutions Examination Council Act
of 1978 Conforming Amendments.--
(1) In general.--Section 1004(a)(4) of the Federal
Financial Institutions Examination Council Act of 1978 (12
U.S.C. 3303(a)(4)), as amended by section 1091 of the
Consumer Financial Protection Act of 2010, is amended by
striking ``Director of the Consumer Financial Protection
Bureau'' and inserting ``Chair of the Board of Directors of
the Consumer Financial Protection Agency''.
(2) Effective date.--The amendment made by this subsection
shall become effective on the day after the effective date of
the amendments made by subtitle H of the Consumer Financial
Protection Act of 2010.
(j) Financial Literacy and Education Improvement Act
Conforming Amendments.--Section 513 of the Financial Literacy
and Education Improvement Act (20 U.S.C. 9702), as amended by
section 1013(d)(5) of the Consumer Financial Protection Act
of 2010, is amended by striking ``Director of the Bureau of
Consumer Financial Protection'' each place that term appears
and inserting ``Chair of the Board of Directors of the
Consumer Financial Protection Agency''.
(k) Home Mortgage Disclosure Act of 1975 Conforming
Amendments.--
(1) In general.--Section 307 of the Home Mortgage
Disclosure Act of 1975 (12 U.S.C. 2806), as added by section
1094(6) of the Consumer Financial Protection Act of 2010, is
amended--
(A) by striking ``Director of the Bureau of Consumer
Financial Protection'' each place that term appears and
inserting ``Chair of the Board of Directors of the Consumer
Financial Protection Agency''; and
(B) in subsection (a)(1), by striking ``Bureau deems'' and
inserting ``Chair of the Board of Directors of the Consumer
Financial Protection Agency deems''.
(2) Effective date.--The amendments made by this subsection
shall become effective on the day after the effective date of
the amendments made by subtitle H of the Consumer Financial
Protection Act of 2010.
(l) Interstate Land Sales Full Disclosure Act Conforming
Amendments.--
(1) In general.--The Interstate Land Sales Full Disclosure
Act (15 U.S.C. 1701 et seq.), as amended by section 1098A of
the Consumer Financial Protection Act of 2010, is amended--
(A) by striking ``Bureau'' each place that term appears and
inserting ``Agency'';
(B) in section 1402 (15 U.S.C. 1701)--
(i) by striking paragraph (1) and inserting the following:
``(1) `Agency' means the Consumer Financial Protection
Agency;''; and
(ii) by striking paragraph (12) and inserting the
following:
``(12) `Chair' means the Chair of the Board of Directors of
the Consumer Financial Protection Agency.''.
(C) in section 1416(a) (15 U.S.C. 1715(a)), by striking
``Director of the Bureau of Consumer Financial Protection''
and inserting ``Agency''.
(2) Effective date.--The amendments made by this subsection
shall become effective on the day after the effective date of
the amendments made by subtitle H of the Consumer Financial
Protection Act of 2010.
(m) Real Estate Settlement Procedures Act of 1974
Conforming Amendments.--Section 5 of the Real Estate
Settlement Procedures Act of 1974 (12 U.S.C. 2604), as
amended by section 1450 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, is amended--
(1) by striking ``The Director of the Bureau of Consumer
Financial Protection (hereafter in this section referred to
as the `Director')'' and inserting ``The Consumer Financial
Protection Agency (in this section referred to as the
`Agency')''; and
(2) by striking ``Director'' each place that term appears
and inserting ``Agency''.
(n) S.A.F.E. Mortgage Licensing Act of 2008 Conforming
Amendments.--
(1) In general.--The S.A.F.E. Mortgage Licensing Act of
2008 (12 U.S.C. 5101), as amended by section 1100 of the
Consumer Financial Protection Act of 2010, is amended--

[[Page S3558]]

(A) by striking ``Director'' each place that term appears,
other than where such term is used in the context of the
Director of the Office of Thrift Supervision, and inserting
``Agency'';
(B) by striking ``Bureau'' each place that term appears,
other than where such term is used in the context of the
Director of the Office of Thrift Supervision, and inserting
``Agency''; and
(C) in section 1503 (12 U.S.C. 5102)--
(i) by striking paragraph (1) and inserting the following:
``(1) Agency.--The term `Agency' means the Consumer
Financial Protection Agency.''; and
(ii) by striking paragraph (10) and inserting the
following:
``(10) Directors.--The terms `Board of Directors' and
`Director' mean the board of directors of the Agency and a
member thereof, respectively.''.
(2) Effective date.--The amendments made by this subsection
shall become effective on the day after the effective date of
the amendments made by subtitle H of the Consumer Financial
Protection Act of 2010.
(o) Title 44, United States Code Conforming Amendments.--
(1) In general.--Title 44, United States Code, as amended
by section 1100D(b) of the Consumer Financial Protection Act
of 2010, is amended--
(A) in section 3502(5), by striking ``Bureau of Consumer
Financial Protection'' and inserting ``Consumer Financial
Protection Agency''; and
(B) in section 3513(c), by striking ``Director of the
Bureau of Consumer Financial Protection'' and inserting
``Consumer Financial Protection Agency''.
(2) Effective date.--The amendments made by this subsection
shall become effective on the day after the effective date of
the amendments made by subtitle H of the Consumer Financial
Protection Act of 2010.
(p) Truth in Lending Act Conforming Amendments.--
(1) In general.--The Truth in Lending Act (15 U.S.C. 1601
et seq.), as amended by section 1084 of the Consumer
Financial Protection Act of 2010, is amended--
(A) in section 103 (15 U.S.C. 1602), by striking
subsections (b) and (c) and inserting the following:
``(b) The term `Agency' means the Consumer Financial
Protection Agency.
``(c) The terms `Board of Directors' and `Director' mean
the board of directors of the Agency and a member thereof,
respectively.''; and
(B) by striking ``Bureau'' each place that term appears and
inserting ``Agency''.
(2) Effective date.--The amendments made by this subsection
shall become effective on the day after the effective date of
the amendments made by subtitle H of the Consumer Financial
Protection Act of 2010.
(q) Rule of Construction.--Except as specified in the
amendments made by this section, all references in Federal
law to the Bureau of Consumer Financial Protection and the
Director thereof shall be deemed to be references to the
Consumer Financial Protection Agency and the Board of
Directors thereof, respectively.
______

SA 392. Mr. TESTER (for himself, Mr. Corker, Mrs. Hagan, Mr. Crapo,
Mr. Bennet, Mr. Blunt, Mr. Carper, Mr. Kyl, and Mr. Coons) proposed an
amendment to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; as follows:

At the appropriate place, insert the following:

TITLE ___--DEBIT INTERCHANGE FEE REFORM

SEC. __1. SHORT TITLE.

This title may be cited as the ``Debit Interchange Fee
Reform Act of 2011''.

SEC. __2. FINDINGS.

Congress finds that--
(1) in response to the proposed debit interchange rule of
the Board of Governors of the Federal Reserve System mandated
by section 1075 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act, the Chairman of Board, the
Comptroller of the Currency, the Chairperson of the Federal
Deposit Insurance Corporation, and the Chairman of the
National Credit Union Administration Board have publicly
raised concerns about the impact of the proposed rule;
(2) while testifying before the Committee on Banking,
Housing, and Urban Affairs of the Senate on February 17,
2011, the Chairman of the Board stated in response to
questions about the small bank exemption to the interchange
rule, ``there is some risk that the exemption will not be
effective and that the interchange fees available through
smaller institutions will be reduced to the same extent we
would see for larger banks'';
(3) the Acting Comptroller of the Currency, in comments to
the Board, cited safety and soundness concerns and stated,
``We believe the proposal takes an unnecessarily narrow
approach to recovery of costs that would be allowable under
the law and that are recognized and indisputably part of
conducting a debit card business. This has long-term safety
and soundness consequences for banks of all sizes.'';
(4) the Chairperson of the Board of Directors of the
Federal Deposit Insurance Corporation stated in comments to
the Board regarding the proposed rule their concern that the
small bank exemption would not work, stating, ``We are
concerned that these institutions may not actually receive
the benefit of the interchange fee limit exemption explicitly
provided by Congress, resulting in a loss of income for
community banks and ultimately higher banking costs for their
customers.'';
(5) the Chairman of the National Credit Union
Administration Board, in comments to the Board, cited concern
with making sure there are ``meaningful exemptions for
smaller card issuers''; and
(6) all of the comments and concerns raised by the banking
and credit union regulatory agencies cast serious questions
about the practical implementation of section 1075 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act,
and further study and consideration are needed.

SEC. __3. RULEMAKING AND EFFECTIVE DATES.

Section 920 of the Electronic Fund Transfer Act (15 U.S.C.
1693o-2), as added by section 1075 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act, is amended--
(1) in subsection (a)(3)(A), by striking ``9 months after
the date of enactment of the Consumer Financial Protection
Act of 2010'' and inserting ``12 months after the date of
enactment of the Debit Interchange Fee Reform Act of 2011'';
(2) in subsection (a)(5)(B)(i), by striking ``9 months
after the date of enactment of the Consumer Financial
Protection Act of 2010'' and inserting ``12 months after the
date of enactment of the Debit Interchange Fee Reform Act of
2011'';
(3) in subsection (a)(8)(C), by striking ``9-month period
beginning on the date of the enactment of the Consumer
Financial Protection Act of 2010'' and inserting ``12-month
period beginning on the date of enactment of the Debit
Interchange Fee Reform Act of 2011'';
(4) in subsection (a)(9), by striking ``at the end of the
12-month period beginning on the date of the enactment of the
Consumer Financial Protection Act of 2010'' and inserting ``a
date determined by the Board'';
(5) in subsection (b)(1)(A), by striking ``1-year period
beginning on the date of the enactment of the Consumer
Financial Protection Act of 2010'' and inserting ``12-month
period beginning on the date of enactment of the Debit
Interchange Fee Reform Act of 2011''; and
(6) in subsection (b)(1)(B), by striking ``1-year period
beginning on the date of the enactment of the Consumer
Financial Protection Act of 2010'' and inserting ``12-month
period beginning on the date of enactment of the Debit
Interchange Fee Reform Act of 2011''.

SEC. __4. STUDY AND REPORT TO CONGRESS.

(a) Study Required.--Not later than 6 months after the date
of enactment of this Act, the study agencies shall jointly
submit a report to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives on the results of a
study regarding the impact of regulating debit interchange
transaction fees and related issues under section 920 of the
Electronic Fund Transfer Act, as added by section 1075 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act.
(b) Subjects for Review.--In conducting the study required
by this section, the study agencies shall examine the state
of the debit interchange payment system, including the impact
of section 920 of the Electronic Fund Transfer Act, as
amended by section 1075 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, and the proposed rule issued by
the Board entitled, ``Debit Card Interchange Fees and
Routing'', on consumers, entities that accept debit cards as
payment, all financial institutions that issue debit cards,
including small issuers, and payment card networks, and shall
specifically address--
(1) all fixed and incremental costs associated with debit
card transactions and program operations to card issuers and
payment card networks, including--
(A) all direct and indirect costs associated with fraud
prevention, detection, and mitigation, including data breach
and identity theft, and the overall costs of fraud incurred
by debit card issuers and merchants; and
(B) financial liability and payment guarantees for debit
card transactions and associated risks and costs incurred by
debit card issuers and merchants;
(2) the overall impact of regulating interchange fees on
consumers, including--
(A) the impact on consumer protection, including anti-
fraud;
(B) the impact on the cost and accessibility of payment
accounts and services; and
(C) the impact on retail prices from changed interchange
rates;
(3) the effectiveness of the exemptions for small issuers,
government-administered payment programs, and reloadable
prepaid cards included in section 920 of the Electronic Fund
Transfer Act, including--
(A) the impact of market forces on such treatment;
(B) in the case of small issuers, the impact on the safety
and soundness of those institutions and their ability to
provide competitive products and services to consumers; and
(C) in the case of government-administered payment
programs, the impact on entities and individuals that utilize
such payment programs and cards; and
(4) the impact of routing and exclusivity provisions in
section 920(b) of the Electronic Fund Transfer Act on all
issuers.

[[Page S3559]]

SEC. __5. REVISIONS TO RULES.

(a) Earlier Rulemaking Suspended.--Any regulation proposed
or prescribed by the Board pursuant to section 920 of the
Electronic Fund Transfer Act during the period beginning on
the date of enactment of the Dodd-Frank Wall Street Reform
and Consumer Protection Act and ending on the date of
completion of the study required under section __04 shall be
suspended by the Board pending the determination required
under subsection (b) of this section.
(b) Determination.--Upon submission to Congress of the
report required by section __04, the study agencies, through
a process coordinated by the Board, shall make a
determination of whether--
(1) either section 920 of the Electronic Fund Transfer Act,
as added by section 1075 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, or the related proposed rule
issued by the Board entitled ``Debit Card Interchange Fees
and Routing'' (75 Fed. Reg. 81722 (Dec. 28, 2010)), does not
consider all fixed and incremental costs associated with
debit card transactions and program operations to card
issuers and payment card networks;
(2) debit card consumers may be adversely affected by
either such section or such proposed rule; or
(3) the exemption for small issuers provided by such
section or as carried out by such proposed rule may not be
effective in practice.
(c) Rulemaking.--
(1) Issuance of new rules.--If at least 2 of the study
agencies, including the Board, make a finding described in
any or all of paragraphs (1), (2), and (3) of subsection (b),
then--
(A) any regulation proposed or prescribed by the Board
pursuant to section 920 of the Electronic Fund Transfer Act
during the period beginning on the date of enactment of the
Dodd-Frank Wall Street Reform and Consumer Protection Act and
ending on the date of completion of the study required under
section __04 shall be withdrawn by the Board and shall have
no legal force or effect; and
(B) not later than 6 months after the date of submission of
the report under section _04, the Board shall issue new rules
in final form under section 920 of the Electronic Fund
Transfer Act, as added by section 1075 of the Dodd-Frank Wall
Street Reform and Consumer Protection Act, based on such
findings.
(2) Consideration of costs.--In issuing final rules under
this subsection, the Board shall consider all fixed and
incremental costs associated with debit card transactions and
program operations and allow incentives for a more
innovative, efficient, and secure payment card network,
notwithstanding subparagraph (A) or (B) of section 920(a)(4)
of the Electronic Fund Transfer Act, as added by section 1075
of the Dodd-Frank Wall Street Reform and Consumer Protection
Act.
(d) Small Issuer Review.--
(1) Small issuer exemption review.--Not later than 2 years
after the date of implementation of this Act, and biennially
thereafter, the Board shall examine the debit interchange
market to determine whether the small issuer exemption under
section 920(a)(6) of the Electronic Fund Transfer Act, as
added by section 1075 of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, is effective in practice, by
examining factors such as--
(A) changes in interchange rates offered to small issuers
by all payment card networks;
(B) changes in fees paid by small issuers to payment card
networks, including fees for participation in those networks
and other operational and transactional fees;
(C) changes and developments by payment card networks,
merchants, or merchant acquirers and processors designed to
influence the payment method of consumers, including
steering; and
(D) the impact of routing and exclusivity provisions of
section 920(b) of the Electronic Fund Transfers Act on small
issuers.
(2) Report to congress.--Upon completion of the review
described in paragraph (1), the Board shall submit a report
of its findings to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives regarding the
effectiveness of the small issuer exemption in practice,
including recommended legislative or regulatory remedies for
mitigating any harm to small issuers and adequately enforcing
the exemption.

SEC. __6. DEFINITIONS.

For purposes of this title, the following definitions shall
apply:
(1) Board.--The term ``Board'' means the Board of Governors
of the Federal Reserve System.
(2) Small issuer.--The term ``small issuer'' means any
debit card issuer that is a depository institution that,
together with its affiliates, has assets of less than
$10,000,000,000.
(3) Study agencies.--The term ``study agencies'' means the
Board, the Office of the Comptroller of the Currency, the
Federal Deposit Insurance Corporation, and the National
Credit Union Administration.
______

SA 393. Mr. DURBIN proposed an amendment to amendment SA 392 proposed
by Mr. Tester (for himself, Mr. Corker, Mrs. Hagan, Mr. Crapo, Mr.
Bennet, Mr. Blunt, Mr. Carper, Mr. Kyl, and Mr. Coons) to the bill S.
782, to amend the Public Works and Economic Development Act of 1965 to
reauthorize that Act, and for other purposes; as follows:

On page 10, line 9, strike ``2 years'' and insert ``one
year''.
______

SA 394. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end, add the following:

SEC. 21. REPEAL OF THE DODD-FRANK WALL STREET REFORM AND
CONSUMER PROTECTION ACT.

The Dodd-Frank Wall Street Reform and Consumer Protection
Act (Public Law 111-203) is repealed, and the provisions of
law amended by such Act are revived or restored as if such
Act had not been enacted.
______

SA 395. Mr. CORNYN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end of the bill, insert the following:

TITLE __--UNITED STATES AUTHORIZATION AND SUNSET COMMISSION ACT OF 2011

SEC. _01. SHORT TITLE.

This title may be cited as the ``United States
Authorization and Sunset Commission Act of 2011''.

SEC. _02. DEFINITIONS.

In this title--
(1) the term ``agency'' means an Executive agency as
defined under section 105 of title 5, United States Code;
(2) the term ``Commission'' means the United States
Authorization and Sunset Commission established under section
_03; and
(3) the term ``Commission Schedule and Review bill'' means
the proposed legislation submitted to Congress under section
_04(b).

SEC. _03. ESTABLISHMENT OF COMMISSION.

(a) Establishment.--There is established the United States
Authorization and Sunset Commission.
(b) Composition.--The Commission shall be composed of eight
members (in this title referred to as the ``members''), as
follows:
(1) Four members appointed by the majority leader of the
Senate, one of whom may include the majority leader of the
Senate, with minority members appointed with the consent of
the minority leader of the Senate.
(2) Four members appointed by the Speaker of the House of
Representatives, one of whom may include the Speaker of the
House of Representatives, with minority members appointed
with the consent of the minority leader of the House of
Representatives.
(3) The Director of the Congressional Budget Office and the
Comptroller of the Government Accountability Office shall be
non-voting ex officio members of the Commission.
(c) Qualifications of Members.--
(1) In general.--
(A) Senate members.--Of the members appointed under
subsection (b)(1), four shall be members of the Senate (not
more than two of whom may be of the same political party).
(B) House of representative members.--Of the members
appointed under subsection (b)(2), four shall be members of
the House of Representatives, not more than two of whom may
be of the same political party.
(2) Continuation of membership.--
(A) In general.--If a member was appointed to the
Commission as a Member of Congress and the member ceases to
be a Member of Congress, that member shall cease to be a
member of the Commission.
(B) Actions of commission unaffected.--Any action of the
Commission shall not be affected as a result of a member
becoming ineligible under subparagraph (A).
(d) Initial Appointments.--Not later than 90 days after the
date of enactment of this title, all initial appointments to
the Commission shall be made.
(e) Chairperson; Vice Chairperson.--
(1) Initial chairperson.--An individual shall be designated
by the Speaker of the House of Representatives from among the
members initially appointed under subsection (b)(2) to serve
as chairperson of the Commission for a period of 2 years.
(2) Initial vice chairperson.--An individual shall be
designated by the majority leader of the Senate from among
the individuals initially appointed under subsection (b)(1)
to serve as vice-chairperson of the Commission for a period
of 2 years.
(3) Alternate appointments of chairmen and vice chairmen.--
Following the termination of the 2-year period described
under paragraphs (1) and (2), the Speaker and the majority
leader of the Senate shall alternate every 2 years in
appointing the chairperson and vice-chairperson of the
Commission.
(f) Terms of Members.--
(1) Members of congress.--Each member appointed to the
Commission shall serve for a term of 6 years, except that, of
the members first appointed under paragraphs (1) and (2) of
subsection (b), two members shall be appointed to serve a
term of 3 years.
(2) Term limit.--A member of the Commission who serves more
than 3 years of a term

[[Page S3560]]

may not be appointed to another term as a member.
(g) Initial Meeting.--If, after 90 days after the date of
enactment of this title, five or more members of the
Commission have been appointed--
(1) members who have been appointed may--
(A) meet; and
(B) select a chairperson from among the members (if a
chairperson has not been appointed) who may serve as
chairperson until the appointment of a chairperson; and
(2) the chairperson shall have the authority to begin the
operations of the Commission, including the hiring of staff.
(h) Meeting; Vacancies.--After its initial meeting, the
Commission shall meet upon the call of the chairperson or a
majority of its members. Any vacancy in the Commission shall
not affect its powers, but shall be filled in the same manner
in which the original appointment was made.
(i) Powers of the Commission.--
(1) In general.--
(A) Hearings, testimony, and evidence.--The Commission may,
for the purpose of carrying out the provisions of this
title--
(i) hold such hearings and sit and act at such times and
places, take such testimony, receive such evidence,
administer such oaths; and
(ii) require, by subpoena or otherwise, the attendance and
testimony of such witnesses and the production of such books,
records, correspondence, memoranda, papers, and documents,
that the Commission or such designated subcommittee or
designated member may determine advisable.
(B) Subpoenas.--Subpoenas issued under subparagraph (A)(ii)
may be issued to require attendance and testimony of
witnesses and the production of evidence relating to any
matter under investigation by the Commission.
(C) Information gathering.--In carrying out the provisions
of section 4, the Commission shall--
(i) conduct public hearings; and
(ii) provide an opportunity for public comment.
(D) Enforcement.--The provisions of sections 102 through
104 of the Revised Statutes of the United States (2 U.S.C.
192 through 194) shall apply in the case of any failure of
any witness to comply with any subpoena or to testify when
summoned under authority of this paragraph.
(2) Contracting.--The Commission may contract with and
compensate government and private agencies or persons for
services without regard to section 3709 of the Revised
Statutes (41 U.S.C. 5) to enable the Commission to discharge
its duties under this title.
(3) Information from federal agencies.--The Commission is
authorized to secure directly from any executive department,
bureau, agency, board, commission, office, independent
establishment, or instrumentality of the Government,
information, suggestions, estimates, and statistics for the
purposes of this section. Each such department, bureau,
agency, board, commission, office, establishment, or
instrumentality shall, to the extent authorized by law,
furnish such information, suggestions, estimates, and
statistics directly to the Commission, upon request made by
the chairperson.
(4) Support services.--
(A) Government accountability office.--The Government
Accountability Office is authorized on a reimbursable basis
to provide the Commission with administrative services,
funds, facilities, staff, and other support services for the
performance of the functions of the Commission.
(B) General services administration.--The Administrator of
General Services shall provide to the Commission on a
reimbursable basis such administrative support services as
the Commission may request.
(C) Agencies.--In addition to the assistance under
subparagraphs (A) and (B), departments and agencies of the
United States are authorized to provide to the Commission
such services, funds, facilities, staff, and other support
services as the Commission may determine advisable as may be
authorized by law.
(5) Postal services.--The Commission may use the United
States mails in the same manner and under the same conditions
as departments and agencies of the United States.
(6) Immunity.--The Commission is an agency of the United
States for purposes of part V of title 18, United States Code
(relating to immunity of witnesses).
(7) Director and staff of the commission.--
(A) Director.--The chairperson of the Commission may
appoint a staff director and such other personnel as may be
necessary to enable the Commission to carry out its
functions, without regard to the provisions of title 5,
United States Code, governing appointments in the competitive
service and without regard to the provisions of chapter 51
and subchapter III of chapter 53 of that title relating to
classification and General Schedule pay rates, except that no
rate of pay fixed under this subsection may exceed the
equivalent of that payable to a person occupying a position
at level II of the Executive Schedule. Any Federal Government
employee may be detailed to the Commission without
reimbursement from the Commission, and such detailee shall
retain the rights, status, and privileges of his or her
regular employment without interruption.
(B) Personnel as federal employees.--
(i) In general.--The executive director and any personnel
of the Commission who are employees shall be employees under
section 2105 of title 5, United States Code, for purposes of
chapters 63, 81, 83, 84, 85, 87, 89, 89A, 89B, and 90 of that
title.
(ii) Members of commission.--Clause (i) shall not be
construed to apply to members of the Commission.
(C) Procurement of temporary and intermittent services.--
With the approval of the majority of the Commission, the
chairperson of the Commission may procure temporary and
intermittent services under section 3109(b) of title 5,
United States Code, at rates for individuals which do not
exceed the daily equivalent of the annual rate of basic pay
prescribed for level V of the Executive Schedule under
section 5316 of such title.
(8) Compensation and travel expenses.--
(A) Compensation.--Members shall not be paid by reason of
their service as members.
(B) Travel expenses.--Each member of the Commission shall
be allowed travel expenses, including per diem in lieu of
subsistence, in accordance with sections 5702 and 5703(b) of
title 5, United States Code.
(j) Authorization of Appropriations.--There are authorized
to be appropriated such sums as necessary for the purposes of
carrying out the duties of the Commission.
(k) Termination.--The Commission shall terminate on
December 31, 2041.

SEC. _04. DUTIES AND RECOMMENDATIONS OF THE UNITED STATES
AUTHORIZATION AND SUNSET COMMISSION.

(a) Schedule and Review.--
(1) In general.--Not later than 18 months after the date of
the enactment of this title and at least once every 10 years
thereafter, the Commission shall submit to Congress a
legislative proposal that includes the schedule of review and
abolishment of agencies and programs (in this section
referred to as the ``Commission Schedule and Review bill'').
(2) Schedule.--The schedule of the Commission shall provide
a timeline for the Commission's review and proposed
abolishment of--
(A) at least 25 percent of unauthorized agencies or
programs as measured in dollars, including those identified
by the Congressional Budget Office under section 602(e)(3) of
title 2, United States Code; and
(B) at least 25 percent of the agencies and programs with
duplicative goals and activities within Departments and
governmentwide as measured in dollars identified by the
Comptroller General of the Government Accountability Office
under section 21 of the Statutory Pay-As-You-Go Act of 2010
(P. L. 111-139; 31 U.S.C. 712 note).
(3) Review of agencies.--In determining the schedule for
review and abolishment of agencies under paragraph (1), the
Commission shall provide that any agency that performs
similar or related functions be reviewed concurrently.
(4) Criteria and review.--The Commission shall review each
agency and program identified under paragraph (1) in
accordance with the following criteria as applicable:
(A) The effectiveness and the efficiency of the program or
agency.
(B) The achievement of performance goals (as defined under
section 1115(g)(4) of title 31, United States Code).
(C) The management of the financial and personnel issues of
the program or agency.
(D) Whether the program or agency has fulfilled the
legislative intent surrounding its creation, taking into
account any change in legislative intent during the existence
of the program or agency.
(E) Ways the agency or program could be less burdensome but
still efficient in protecting the public.
(F) Whether reorganization, consolidation, abolishment,
expansion, or transfer of agencies or programs would better
enable the Federal Government to accomplish its missions and
goals.
(G) The promptness and effectiveness of an agency in
handling complaints and requests made under section 552 of
title 5, United States Code (commonly referred to as the
Freedom of Information Act).
(H) The extent that the agency encourages and uses public
participation when making rules and decisions.
(I) The record of the agency in complying with requirements
for equal employment opportunity, the rights and privacy of
individuals, and purchasing products from historically
underutilized businesses.
(J) The extent to which the program or agency duplicates or
conflicts with other Federal agencies, State or local
government, or the private sector and if consolidation or
streamlining into a single agency or program is feasible.
(b) Schedule and Abolishment of Agencies and Programs.--
(1) In general.--Not later than 18 months after the date of
the enactment of this title and at least once every 10 years
thereafter, the Commission shall submit to the Congress a
Commission Schedule and Review bill that--
(A) includes a schedule for review of agencies and
programs; and
(B) abolishes any agency or program 2 years after the date
the Commission completes its review of the agency or program,
unless the agency or program is reauthorized by Congress.
(2) Expedited congressional consideration procedures.--In
reviewing the Commission Schedule and Review bill, Congress
shall follow the expedited procedures under section _06.

[[Page S3561]]

(c) Recommendations and Legislative Proposals.--
(1) Report.--Not later than 2 years after the date of
enactment of this title, the Commission shall submit to
Congress and the President--
(A) a report that reviews and analyzes according to the
criteria established under subsection (a)(4) for each agency
and program to be reviewed in the year in which the report is
submitted under the schedule submitted to Congress under
subsection (a)(1);
(B) a proposal, if appropriate, to reauthorize, reorganize,
consolidate, expand, or transfer the Federal programs and
agencies to be reviewed in the year in which the report is
submitted under the schedule submitted to Congress under
subsection (a)(1); and
(C) legislative provisions necessary to implement the
Commission's proposal and recommendations.
(2) Additional reports.--The Commission shall submit to
Congress and the President additional reports as prescribed
under paragraph (1) on or before June 30 of every other year.
(d) Rule of Construction.--Nothing in this section shall be
construed to limit the power of the Commission to review any
Federal program or agency.
(e) Approval of Reports.--The Commission Schedule and
Review bill and all other legislative proposals and reports
submitted under this section shall require the approval of
not less than five members of the Commission.

SEC. _05. EXPEDITED CONSIDERATION OF COMMISSION
RECOMMENDATIONS.

(a) Introduction and Committee Consideration.--
(1) Introduction.--If any legislative proposal with
provisions is submitted to Congress under section _04(c), a
bill with that proposal and provisions shall be introduced in
the Senate by the majority leader, and in the House of
Representatives, by the Speaker. Upon introduction, the bill
shall be referred to the appropriate committees of Congress
under paragraph (2). If the bill is not introduced in
accordance with the preceding sentence, then any Member of
Congress may introduce that bill in their respective House of
Congress beginning on the date that is the 5th calendar day
that such House is in session following the date of the
submission of such proposal with provisions.
(2) Committee consideration.--
(A) Referral.--A bill introduced under paragraph (1) shall
be referred to any appropriate committee of jurisdiction in
the Senate, any appropriate committee of jurisdiction in the
House of Representatives, the Committee on the Budget and the
Committee on Homeland Security and Governmental Affairs of
the Senate, and the Committee on the Budget and the Committee
on Homeland Security and Governmental Affairs of the House of
Representatives.
(B) Reporting.--Not later than 30 calendar days after the
introduction of the bill, each committee of Congress to which
the bill was referred shall report the bill or a committee
amendment thereto.
(C) Discharge of committee.--If a committee to which is
referred a bill has not reported such bill at the end of 30
calendar days after its introduction or at the end of the
first day after there has been reported to the House involved
a bill, whichever is earlier, such committee shall be deemed
to be discharged from further consideration of such bill, and
such bill shall be placed on the appropriate calendar of the
House involved.
(b) Expedited Procedure.--
(1) Consideration.--
(A) In general.--Not later than 5 calendar days after the
date on which a committee has been discharged from
consideration of a bill, the majority leader of the Senate,
or the majority leader's designee, or the Speaker of the
House of Representatives, or the Speaker's designee, shall
move to proceed to the consideration of the committee
amendment to the bill, and if there is no such amendment, to
the bill. It shall also be in order for any member of the
Senate or the House of Representatives, respectively, to move
to proceed to the consideration of the bill at any time after
the conclusion of such 5-day period.
(B) Motion to proceed.--A motion to proceed to the
consideration of a bill is highly privileged in the House of
Representatives and is privileged in the Senate and is not
debatable. The motion is not subject to amendment, to a
motion to postpone consideration of the bill, or to a motion
to proceed to the consideration of other business. A motion
to reconsider the vote by which the motion to proceed is
agreed to or not agreed to shall not be in order. If the
motion to proceed is agreed to, the Senate or the House of
Representatives, as the case may be, shall immediately
proceed to consideration of the bill without intervening
motion, order, or other business, and the bill shall remain
the unfinished business of the Senate or the House of
Representatives, as the case may be, until disposed of.
(C) Limited debate.--Debate on the bill and all amendments
thereto and on all debatable motions and appeals in
connection therewith shall be limited to not more than 50
hours, which shall be divided equally between those favoring
and those opposing the bill. A motion further to limit debate
on the bill is in order and is not debatable. All time used
for consideration of the bill, including time used for quorum
calls (except quorum calls immediately preceding a vote) and
voting, shall come from the 50 hours of debate.
(D) Amendments.--No amendment that is not germane to the
provisions of the bill shall be in order in the Senate. In
the Senate, an amendment, any amendment to an amendment, or
any debatable motion or appeal is debatable for not to exceed
1 hour to be divided equally between those favoring and those
opposing the amendment, motion, or appeal.
(E) Vote on final passage.--Immediately following the
conclusion of the debate on the bill, and the disposition of
any pending amendments under subparagraph (D), the vote on
final passage of the bill shall occur.
(F) Other motions not in order.--A motion to postpone
consideration of the bill, a motion to proceed to the
consideration of other business, or a motion to recommit the
bill is not in order. A motion to reconsider the vote by
which the bill is agreed to or not agreed to is not in order.
(2) Consideration by other house.--If, before the passage
by one House of the bill that was introduced in such House,
such House receives from the other House a bill as passed by
such other House--
(A) the bill of the other House shall not be referred to a
committee and may only be considered for final passage in the
House that receives it under subparagraph (C);
(B) the procedure in the House in receipt of the bill of
the other House, with respect to the bill that was introduced
in the House in receipt of the bill of the other House, shall
be the same as if no bill had been received from the other
House; and
(C) notwithstanding subparagraph (B), the vote on final
passage shall be on the bill of the other House.

Upon disposition of a bill that is received by one House from
the other House, it shall no longer be in order to consider
the bill that was introduced in the receiving House.
(3) Consideration in conference.--
(A) Convening of conference.--Immediately upon final
passage of a bill that results in a disagreement between the
two Houses of Congress with respect to a bill, conferees
shall be appointed and a conference convened.
(B) Action on conference reports in the senate.--
(i) Motion to proceed.--The motion to proceed to
consideration in the Senate of the conference report on a
bill may be made even though a previous motion to the same
effect has been disagreed to.
(ii) Debate.--Consideration in the Senate of the conference
report (including a message between Houses) on a bill, and
all amendments in disagreement, including all amendments
thereto, and debatable motions and appeals in connection
therewith, shall be limited to 20 hours, equally divided and
controlled by the majority leader and the minority leader or
their designees. Debate on any debatable motion or appeal
related to the conference report (or a message between
Houses) shall be limited to 1 hour, to be equally divided
between, and controlled by, the mover and the manager of the
conference report (or a message between Houses).
(iii) Conference report defeated.--Should the conference
report be defeated, debate on any request for a new
conference and the appointment of conferrees shall be limited
to 1 hour, to be equally divided between, and controlled by,
the manager of the conference report and the minority leader
or the minority leader's designee, and should any motion be
made to instruct the conferees before the conferees are
named, debate on such motion shall be limited to \1/2\ hour,
to be equally divided between, and controlled by, the mover
and the manager of the conference report. Debate on any
amendment to any such instructions shall be limited to 20
minutes, to be equally divided between and controlled by the
mover and the manager of the conference report. In all cases
when the manager of the conference report is in favor of any
motion, appeal, or amendment, the time in opposition shall be
under the control of the minority leader or the minority
leader's designee.
(iv) Amendments in disagreement.--In any case in which
there are amendments in disagreement, time on each amendment
shall be limited to 30 minutes, to be equally divided
between, and controlled by, the manager of the conference
report and the minority leader or the minority leader's
designee. No amendment that is not germane to the provisions
of such amendments shall be received.
(v) Limitation on motion to recommit.--A motion to recommit
the conference report is not in order.
(c) Rules of the Senate and the House of Representatives.--
This section is enacted by Congress--
(1) as an exercise of the rulemaking power of the Senate
and the House of Representatives, respectively, and is deemed
to be part of the rules of each House, respectively, but
applicable only with respect to the procedure to be followed
in that House in the case of a bill, and it supersedes other
rules only to the extent that it is inconsistent with such
rules; and
(2) with full recognition of the constitutional right of
either House to change the rules (so far as they relate to
the procedure of that House) at any time, in the same manner,
and to the same extent as in the case of any other rule of
that House.

SEC. _06. EXPEDITED CONSIDERATION OF COMMISSION SCHEDULE AND
REVIEW BILL.

(a) Introduction and Committee Consideration.--

[[Page S3562]]

(1) Introduction.--The Commission Schedule and Review bill
submitted under section _04(b) shall be introduced in the
Senate by the majority leader, or the majority leader's
designee, and in the House of Representatives, by the
Speaker, or the Speaker's designee. Upon such introduction,
the Commission Schedule and Review bill shall be referred to
the appropriate committees of Congress under paragraph (2).
If the Commission Schedule and Review bill is not introduced
in accordance with the preceding sentence, then any member of
Congress may introduce the Commission Schedule and Review
bill in their respective House of Congress beginning on the
date that is the 5th calendar day that such House is in
session following the date of the submission of such
aggregate legislative language provisions.
(2) Committee consideration.--
(A) Referral.--A Commission Schedule and Review bill
introduced under paragraph (1) shall be referred to any
appropriate committee of jurisdiction in the Senate, any
appropriate committee of jurisdiction in the House of
Representatives, the Committee on the Budget and the
Committee on Homeland Security and Governmental Affairs of
the Senate and the Committee on the Budget and the Committee
on Oversight and Government Reform of the House of
Representatives. A committee to which a Commission Schedule
and Review bill is referred under this paragraph may review
and comment on such bill, may report such bill to the
respective House, and may not amend such bill.
(B) Reporting.--Not later than 30 calendar days after the
introduction of the Commission Schedule and Review bill, each
Committee of Congress to which the Commission Schedule and
Review bill was referred shall report the bill.
(C) Discharge of committee.--If a committee to which is
referred a Commission Schedule and Review bill has not
reported such Commission Schedule and Review bill at the end
of 30 calendar days after its introduction or at the end of
the first day after there has been reported to the House
involved a Commission Schedule and Review bill, whichever is
earlier, such committee shall be deemed to be discharged from
further consideration of such Commission Schedule and Review
bill, and such Commission Schedule and Review bill shall be
placed on the appropriate calendar of the House involved.
(b) Expedited Procedure.--
(1) Consideration.--
(A) In general.--Not later than 5 calendar days after the
date on which a committee has been discharged from
consideration of a Commission Schedule and Review bill, the
majority leader of the Senate, or the majority leader's
designee, or the Speaker of the House of Representatives, or
the Speaker's designee, shall move to proceed to the
consideration of the Commission Schedule and Review bill. It
shall also be in order for any member of the Senate or the
House of Representatives, respectively, to move to proceed to
the consideration of the Commission Schedule and Review bill
at any time after the conclusion of such 5-day period.
(B) Motion to proceed.--A motion to proceed to the
consideration of a Commission Schedule and Review bill is
highly privileged in the House of Representatives and is
privileged in the Senate and is not debatable. The motion is
not subject to amendment, to a motion to postpone
consideration of the Commission Schedule and Review bill, or
to a motion to proceed to the consideration of other
business. A motion to reconsider the vote by which the motion
to proceed is agreed to or not agreed to shall not be in
order. If the motion to proceed is agreed to, the Senate or
the House of Representatives, as the case may be, shall
immediately proceed to consideration of the Commission
Schedule and Review bill without intervening motion, order,
or other business, and the Commission Schedule and Review
bill shall remain the unfinished business of the Senate or
the House of Representatives, as the case may be, until
disposed of.
(C) Limited debate.--Debate on the Commission Schedule and
Review bill and on all debatable motions and appeals in
connection therewith shall be limited to not more than 10
hours, which shall be divided equally between those favoring
and those opposing the Commission Schedule and Review bill. A
motion further to limit debate on the Commission Schedule and
Review bill is in order and is not debatable. All time used
for consideration of the Commission Schedule and Review bill,
including time used for quorum calls (except quorum calls
immediately preceding a vote) and voting, shall come from the
10 hours of debate.
(D) Amendments.--No amendment to the Commission Schedule
and Review bill shall be in order in the Senate and the House
of Representatives.
(E) Vote on final passage.--Immediately following the
conclusion of the debate on the Commission Schedule and
Review bill, the vote on final passage of the Commission
Schedule and Review bill shall occur.
(F) Other motions not in order.--A motion to postpone
consideration of the Commission Schedule and Review bill, a
motion to proceed to the consideration of other business, or
a motion to recommit the Commission Schedule and Review bill
is not in order. A motion to reconsider the vote by which the
Commission Schedule and Review bill is agreed to or not
agreed to is not in order.
(2) Consideration by other house.--If, before the passage
by one House of the Commission Schedule and Review bill that
was introduced in such House, such House receives from the
other House a Commission Schedule and Review bill as passed
by such other House--
(A) the Commission Schedule and Review bill of the other
House shall not be referred to a committee and may only be
considered for final passage in the House that receives it
under subparagraph (C);
(B) the procedure in the House in receipt of the Commission
Schedule and Review bill of the other House, with respect to
the Commission Schedule and Review bill that was introduced
in the House in receipt of the Commission Schedule and Review
bill of the other House, shall be the same as if no
Commission Schedule and Review bill had been received from
the other House; and
(C) notwithstanding subparagraph (B), the vote on final
passage shall be on the Commission Schedule and Review bill
of the other House. Upon disposition of a Commission Schedule
and Review bill that is received by one House from the other
House, it shall no longer be in order to consider the
Commission Schedule and Review bill that was introduced in
the receiving House.
(c) Rules of the Senate and the House of Representatives.--
This section is enacted by Congress--
(1) as an exercise of the rulemaking power of the Senate
and the House of Representatives, respectively, and is deemed
to be part of the rules of each House, respectively, but
applicable only with respect to the procedure to be followed
in that House in the case of a Commission Schedule and Review
bill, and it supersedes other rules only to the extent that
it is inconsistent with such rules; and
(2) with full recognition of the constitutional right of
either House to change the rules (so far as they relate to
the procedure of that House) at any time, in the same manner,
and to the same extent as in the case of any other rule of
that House.
______

SA 396. Mr. CORNYN (for himself and Mr. Kyl) submitted an amendment
intended to be proposed by him to the bill S. 782, to amend the Public
Works and Economic Development Act of 1965 to reauthorize that Act, and
for other purposes; which was ordered to lie on the table; as follows:

On page 29, after line 20, insert the following:

TITLE II--DEBT INSTRUMENT TRANSPARENCY

SEC. 201. SHORT TITLE.

This title may be cited as the ``Foreign-Held Debt
Transparency and Threat Assessment Act''.

SEC. 202. DEFINITIONS.

In this title:
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' means the following:
(A) The Committee on Armed Services, the Committee on
Foreign Relations, the Committee on Finance, and the
Committee on the Budget of the Senate.
(B) The Committee on Armed Services, the Committee on
Foreign Affairs, the Committee on Ways and Means, and the
Committee on the Budget of the House of Representatives.
(2) Debt instruments of the united states.--The term ``debt
instruments of the United States'' means all bills, notes,
and bonds issued or guaranteed by the United States or by an
entity of the United States Government, including any
Government-sponsored enterprise.

SEC. 203. FINDINGS.

Congress makes the following findings:
(1) On March 16, 2006, the United States Senate debated and
then narrowly passed legislation, H. J. Res. 47, to increase
the statutory limit on the public debt of the United States.
In a statement published in the Congressional Record, then-
Senator Barack Obama opposed the legislation and stated,
``The fact that we are here today to debate raising America's
debt limit is a sign of leadership failure. It is a sign that
the U.S. Government can't pay its own bills. It is a sign
that we now depend on ongoing financial assistance from
foreign countries to finance our Government's reckless fiscal
policies.''. Then-Senator Obama went on to say that
``Increasing America's debt weakens us domestically and
internationally. Leadership means that `the buck stops here'.
Instead, Washington is shifting the burden of bad choices
today onto the backs of our children and grandchildren.
America has a debt problem and a failure of leadership.
Americans deserve better.''.
(2) On February 25, 2010, United States Secretary of State,
Hillary Rodham Clinton, urged members of Congress to address
the Federal budget deficit: ``We have to address this deficit
and the debt of the United States as a matter of national
security, not only as a matter of economics. I do not like to
be in a position where the United States is a debtor nation
to the extent that we are.''. The Secretary went on to say
that reliance on foreign creditors has hit the United States
``ability to protect our security, to manage difficult
problems and to show the leadership that we deserve.''.
(3) On February 16, 2011, Admiral Mike Mullen, Chairman of
the Joint Chiefs of Staff, testified before the Committee on
Armed Services of the Senate: ``Indeed, I believe that our
debt is the greatest threat to our national security. If we
as a country do

[[Page S3563]]

not address our fiscal imbalances in the near-term, our
national power will erode, and the costs to our ability to
maintain and sustain influence could be great.''.
(4) The Department of the Treasury borrows from the private
economy by selling securities, including Treasury bills,
notes, and bonds, in order to finance the Federal budget
deficit. This additional borrowing to finance the deficit
adds to the Federal debt.
(5) The Federal debt stands at more than
$14,344,000,000,000.
(6) According to a report issued by the Department of the
Treasury on May 16, 2011, entitled ``Major Foreign Holders of
Treasury Securities'', foreign holdings of United States
Treasury securities stood at more than $3,175,000,000,000 at
the end of March 2011. The People's Republic of China was the
single largest holder with holdings of more than
$1,144,000,000,000.
(7) Despite efforts by the Department of the Treasury to
identify the nationality of the ultimate holders of United
States securities, including United States Treasury
securities, data pertaining to foreign holders of these
securities may still fail to reflect the true nationality of
the foreign entities involved. For example, another
Department of the Treasury report, issued on February 28,
2011, entitled ``Preliminary Report on Foreign Holdings of
U.S. Securities At End-June 2010'', assigns $732,000,000,000
worth of United States securities to the Cayman Islands, a
British overseas territory with a population of only 55,000
people. The Cayman Islands is not itself a large investor in
United States securities; rather, it is a major international
financial center and is routinely used as a place to invest
funds from elsewhere.
(8) On February 25, 2010, Simon Johnson, an economics
professor at the Massachusetts Institute of Technology and a
former chief economist for the International Monetary Fund,
testified before the U.S.-China Economic and Security Review
Commission that United States Treasury data understate
Chinese holdings of United States Government debt and ``do
not reveal the ultimate country of ownership when debt
instruments are held through an intermediary in another
jurisdiction.''. He stated that ``a great deal'' of the
United Kingdom's increase in United States Treasury
securities last year ``may be due to China placing offshore
dollars in London-based banks'', which are then used to
purchase United States Treasury securities.
(9) On February 25, 2010, Dr. Eswar Prasad, an economist at
Cornell University, testified before the U.S.-China Economic
and Security Review Commission that the amount of United
States debt held by the People's Republic of China is much
higher than United States Treasury data indicate. In his
revised testimony, Dr. Prasad went on to explain that China
is probably currently holding more than $1,300,000,000,000 in
United States Treasury securities.
(10) According to a February 3, 2009, report by the
Heritage Foundation, entitled ``Chinese Foreign Investment:
Insist on Transparency'', the State Administration of Foreign
Exchange (SAFE) of the People's Republic of China, the
government body that purchases foreign securities, is the
single largest global investor and the largest foreign
investor in the United States.
(11) According to a September 2008 Council on Foreign
Relations report entitled ``Sovereign Wealth and Sovereign
Power,'' ``. . . political might is often linked to financial
might, and a debtor's capacity to project military power
hinges on the support of its creditors . . . The United
States' main sources of financing are not allies.''. The
report goes on to argue that, ``the United States' current
reliance on other governments for financing represents an
underappreciated strategic vulnerability.''.
(12) In recent years, Chinese military officials have
publicized the potential use of United States Treasury
securities as a means of influencing United States policy and
deterring specific United States actions. On February 8,
2010, retired People's Liberation Army (PLA) Major General
Luo Yuan, from the PLA Academy of Military Science, stated in
an interview with state-controlled media that China could
attack the United States ``by oblique means and stealthy
feints'', in retaliation for United States arms sales to
Taiwan. He went on to say, ``Our retaliation should not be
restricted to merely military matters, and we should adopt a
strategic package of counterpunches covering politics,
military affairs, diplomacy and economics to treat both the
symptoms and root cause of this disease. For example, we
could sanction them using economic means, such as dumping
some U.S. government bonds.''.
(13) The PLA has also referenced the concept of nonmilitary
aspects of deterrence in written statements. A PLA textbook,
``The Science of Military Strategy'', observes that there are
various forms of deterrence, including economic and
technological, all of which need to be developed and
consciously strengthened in order to maximize effect. These
forms will only work ``with the determination and volition of
employment of the force, and by dangling the word of
deterrence over the rival's head in case of necessity.''.
(14) According to a May 16, 2011, report by ABC News, a
congressional delegation of 10 United States Senators visited
China in April 2011, and met with Chinese government
officials. The news report indicates that, during one
meeting, the Senators were reprimanded by a Chinese official
regarding the mounting United States Federal debt.
(15) A February 7, 2010, report by Defense News suggests
that China's extensive holdings of United States Government
securities have already directly influenced United States
national security policy. According to an unnamed Pentagon
official, Obama Administration officials softened a draft of
a key national security document in order to avoid ``harsh
words'' that ``might upset Chinese officials at a time when
the United States and China are economically intertwined.''.
The news report indicates that these officials ``deleted
several passages and softened others about China's military
buildup''. This critical document, the 2010 Quadrennial
Defense Review, provides an assessment of long-term threats
and challenges for the nation and is intended to guide
military programs, plans, and budgets in the coming decades.
(16) The United States Government pays China a substantial
amount of interest on China's $1,144,000,000,000 in holdings
of United States Government debt, and this enhances China's
ability to fund its own military programs.
(17) According to a March 4, 2011, report by Xinhua, the
official press agency of the government of the People's
Republic of China, China plans to increase its 2011 military
budget by 12.7 percent to 601,000,000,000 yuan (the
equivalent of $91,500,000,000). This increase is in addition
to China's 2010 increase in its military budget of 7.5
percent.
(18) According to the Department of Defense's (DoD) 2010
report entitled ``Military and Security Developments
Involving the People's Republic of China,'' the DoD estimates
China's actual total military-related spending for 2009 to be
over $150,000,000,000.

SEC. 204. SENSE OF CONGRESS.

It is the sense of Congress that--
(1) the growing Federal debt of the United States has the
potential to jeopardize the national security and economic
stability of the United States;
(2) the increasing dependence of the United States on
foreign creditors has the potential to make the United States
vulnerable to undue influence by certain foreign creditors in
national security and economic policymaking;
(3) the People's Republic of China is the largest foreign
creditor of the United States, in terms of its overall
holdings of debt instruments of the United States;
(4) the current level of transparency in the scope and
extent of foreign holdings of debt instruments of the United
States is inadequate and needs to be improved, particularly
regarding the holdings of the People's Republic of China;
(5) through the People's Republic of China's large holdings
of debt instruments of the United States, China has become a
super creditor of the United States;
(6) under certain circumstances, the holdings of the
People's Republic of China could give China a tool with which
China can try to manipulate the domestic and foreign
policymaking of the United States, including the United
States relationship with Taiwan;
(7) under certain circumstances, if the People's Republic
of China were to be displeased with a given United States
policy or action, China could attempt to destabilize the
United States economy by rapidly divesting large portions of
China's holdings of debt instruments of the United States;
and
(8) the People's Republic of China's expansive holdings of
such debt instruments of the United States could potentially
pose a direct threat to the United States economy and to
United States national security. This potential threat is a
significant issue that warrants further analysis and
evaluation.

SEC. 205. QUARTERLY REPORT ON RISKS POSED BY FOREIGN HOLDINGS
OF DEBT INSTRUMENTS OF THE UNITED STATES.

(a) Quarterly Report.--Not later than March 31, June 30,
September 30, and December 31 of each year, the President
shall submit to the appropriate congressional committees a
report on the risks posed by foreign holdings of debt
instruments of the United States, in both classified and
unclassified form.
(b) Matters To Be Included.--Each report submitted under
this section shall include the following:
(1) The most recent data available on foreign holdings of
debt instruments of the United States, which data shall not
be older than the date that is 7 months preceding the date of
the report.
(2) The country of domicile of all foreign creditors who
hold debt instruments of the United States.
(3) The total amount of debt instruments of the United
States that are held by the foreign creditors, broken out by
the creditors' country of domicile and by public, quasi-
public, and private creditors.
(4) For each foreign country listed in paragraph (2)--
(A) an analysis of the country's purpose in holding debt
instruments of the United States and long-term intentions
with regard to such debt instruments;
(B) an analysis of the current and foreseeable risks to the
long-term national security and economic stability of the
United States posed by each country's holdings of debt
instruments of the United States; and
(C) a specific determination of whether the level of risk
identified under subparagraph (B) is acceptable or
unacceptable.
(c) Public Availability.--The President shall make each
report required by subsection (a) available, in its
unclassified form,

[[Page S3564]]

to the public by posting it on the Internet in a conspicuous
manner and location.

SEC. 206. ANNUAL REPORT ON RISKS POSED BY THE FEDERAL DEBT OF
THE UNITED STATES.

(a) In General.--Not later than December 31 of each year,
the Comptroller General of the United States shall submit to
the appropriate congressional committees a report on the
risks to the United States posed by the Federal debt of the
United States.
(b) Content of Report.--Each report submitted under this
section shall include the following:
(1) An analysis of the current and foreseeable risks to the
long-term national security and economic stability of the
United States posed by the Federal debt of the United States.
(2) A specific determination of whether the levels of risk
identified under paragraph (1) are sustainable.
(3) If the determination under paragraph (2) is that the
levels of risk are unsustainable, specific recommendations
for reducing the levels of risk to sustainable levels, in a
manner that results in a reduction in Federal spending.

SEC. 207. CORRECTIVE ACTION TO ADDRESS UNACCEPTABLE AND
UNSUSTAINABLE RISKS TO UNITED STATES NATIONAL
SECURITY AND ECONOMIC STABILITY.

In any case in which the President determines under section
205(b)(4)(C) that a foreign country's holdings of debt
instruments of the United States pose an unacceptable risk to
the long-term national security or economic stability of the
United States, the President shall, within 30 days of the
determination--
(1) formulate a plan of action to reduce the risk level to
an acceptable and sustainable level, in a manner that results
in a reduction in Federal spending;
(2) submit to the appropriate congressional committees a
report on the plan of action that includes a timeline for the
implementation of the plan and recommendations for any
legislative action that would be required to fully implement
the plan; and
(3) move expeditiously to implement the plan in order to
protect the long-term national security and economic
stability of the United States.
______

SA 397. Mr. CORNYN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

On page 29, after line 20, add the following:

SEC. [2_]. EXEMPTION OF SAND DUNE LIZARD FROM ENDANGERED
SPECIES ACT OF 1973.

Section 4 of the Endangered Species Act of 1973 (16 U.S.C.
1533) is amended by adding at the end the following:
``(j) Exemption of Sand Dune Lizard.--This Act shall not
apply to the sand dune lizard.''.
______

SA 398. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. APPLICATION TO CERTAIN SPEECH, BUSINESS DECISIONS.

(a) Unfair Labor Practices.--Section 8(a)(3) of the
National Labor Relations Act (29 U.S.C. 158(a)(3)) is amended
by inserting before the semicolon at the end the following:
``: Provided further, That an employer's expression of any
views, argument, or opinion related to the costs associated
with collective bargaining, work stoppages, or strikes, or
the dissemination of such views, arguments, or opinions,
whether in written, printed, graphic, digital, or visual
form, shall not constitute or be evidence of antiunion animus
or unlawful motive, if such expression contains no threat of
reprisal or force or promise of benefit''.
(b) Prevention of Unfair Labor Practices.--Section 10 of
the National Labor Relations Act (29 U.S.C. 160) is amended--
(1) in subsection (a), by inserting after the period at the
end the following: ``: Provided further, That the Board shall
have no power to order any employer to relocate, shut down,
or transfer any existing or planned facility or work or
employment opportunity, or prevent any employer from making
such relocations, transfers, or expansions to new or existing
facilities in the future, or prevent any employer from
closing a facility, not developing a facility, or eliminating
any employment opportunity unless and until the employer has
been adjudicated finally to have unlawfully undertaken such
actions--
``(1) without advance notice to the labor organization, if
any, representing the bargaining unit of the affected
employees, of the economic reason(s) for the relocation, shut
down, or transfer of existing or future work; or
``(2) as a primary and direct response to efforts by a
labor organization to organize a previously unrepresented
workplace''; and
(2) by adding at the end the following:
``(n) Nothing in this Act shall prevent an employer from
choosing where to locate, develop, or expand its business or
facilities, or require any employer to move, transfer, or
relocate any facility, production line, or employment
opportunity, or require that an employer cease or refrain
from doing so, or prevent any employer from closing a
facility or eliminating any employment opportunity unless the
employer has been adjudicated finally to have unlawfully
undertaken such actions--
``(1) without advance notice to the labor organization, if
any, representing the bargaining unit of the affected
employees, of the economic reason(s) for the relocation, shut
down, or transfer of existing or future work; or
``(2) as a primary and direct response to efforts by a
labor organization to organize a previously unrepresented
workplace.''.
______

SA 399. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. NATIONAL RIGHT-TO-WORK.

(a) Amendments to the National Labor Relations Act.--
(1) Rights of employees.--Section 7 of the National Labor
Relations Act (29 U.S.C. 157) is amended by striking ``except
to'' and all that follows through ``authorized in section
8(a)(3)''.
(2) Unfair labor practices.--Section 8 of the National
Labor Relations Act (29 U.S.C. 158) is amended--
(A) in subsection (a)(3), by striking ``: Provided, That''
and all that follows through ``retaining membership'';
(B) in subsection (b)--
(i) in paragraph (2), by striking ``or to discriminate''
and all that follows through ``retaining membership''; and
(ii) in paragraph (5), by striking ``covered by an
agreement authorized under subsection (a)(3) of this
section''; and
(C) in subsection (f), by striking clause (2) and
redesignating clauses (3) and (4) as clauses (2) and (3),
respectively.
(b) Amendment to the Railway Labor Act.--Section 2 of the
Railway Labor Act (45 U.S.C. 152) is amended by striking
paragraph Eleven.
______

SA 400. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

On page 29, after line 20, add the following:

SEC. 22. GAINFUL EMPLOYMENT.

The final regulation issued by the Secretary of Education
on June 2, 2011, entitled ``Program Integrity: Gainful
Employment--Debt Measures'' and amending part 668 of title
34, Code of Federal Regulations, shall have no force or
effect.
______

SA 401. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

On page 29, after line 20, add the following:

SEC. 22. TERMINATION OF GLOBAL CLIMATE CHANGE RESPONSE FUND.

(a) In General.--Effective beginning October, 1, 2011,
section 1609 of the Energy Policy Act of 1992 (42 U.S.C.
13388) is repealed.
(b) Remaining Amounts.--Any unobligated amounts remaining
in the Global Climate Change Response Fund on October 1,
2011, shall be deposited in the general fund of the Treasury.
______

SA 402. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end, insert the following:

SEC. 22. PERMANENT ESTATE TAX RELIEF.

(a) In General.--Title III of the Tax Relief, Unemployment
Insurance Reauthorization, and Job Creation Act of 2010, and
the amendments made thereby, are repealed; and the Internal
Revenue Code of 1986 shall be applied as if such title, and
amendments, had never been enacted.
(b) Effective Date.--The repeal made by this section shall
apply to estates of decedents dying, gifts made, and
generation skipping transfers after December 31, 2009.
______

SA 403. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

Strike all after the enacting clause and insert the
following:

SECTION 1. ECONOMIC DEVELOPMENT ADMINISTRATION.

(a) Termination of Authority.--Beginning on October 1,
2011, the Economic Development Administration is terminated.

[[Page S3565]]

(b) Collection Authority.--The Secretary of the Treasury
may collect any amounts owed to the Federal Government under
any loan agreement entered into by the Economic Development
Administration in effect on September 30, 2011--
(1) in accordance with the terms or conditions of that loan
agreement; or
(2) as otherwise provided by law.
______

SA 404. Mr. DeMINT submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. PROHIBITION ON AWARD AND DESIGNATION OF FUNDS.

Notwithstanding any other provision of law, none of the
funds made available under this Act or an amendment made by
this Act shall be awarded to or designated for an area or
entity named for any living Member of Congress.
______

SA 405. Mr. BROWN of Massachusetts (for himself and Ms. Snowe)
submitted an amendment intended to be proposed by him to the bill S.
782, to amend the Public Works and Economic Development Act of 1965 to
reauthorize that Act, and for other purposes; which was ordered to lie
on the table; as follows:

At the end, add the following:

SEC. ___. REPEAL OF IMPOSITION OF WITHHOLDING ON CERTAIN
PAYMENTS MADE TO VENDORS BY GOVERNMENT
ENTITIES.

(a) In General.--The amendment made by section 511 of the
Tax Increase Prevention and Reconciliation Act of 2005 is
repealed and the Internal Revenue Code of 1986 shall be
applied as if such amendment had never been enacted.
(b) Rescission of Unspent Federal Funds to Offset Loss in
Revenues.--
(1) In general.--Notwithstanding any other provision of
law, of all available unobligated funds, $39,000,000,000 in
appropriated discretionary funds are hereby permanently
rescinded.
(2) Implementation.--The Director of the Office of
Management and Budget shall determine and identify from which
appropriation accounts the rescission under paragraph (1)
shall apply and the amount of such rescission that shall
apply to each such account. Not later than 60 days after the
date of the enactment of this Act, the Director of the Office
of Management and Budget shall submit a report to the
Secretary of the Treasury and Congress of the accounts and
amounts determined and identified for rescission under the
preceding sentence.
(3) Exception.--This subsection shall not apply to the
unobligated funds of the Department of Defense or the
Department of Veterans Affairs.
______

SA 406. Mrs. HUTCHISON (for herself and Ms. Landrieu) submitted an
amendment intended to be proposed by her to the bill S. 782, to amend
the Public Works and Economic Development Act of 1965 to reauthorize
that Act, and for other purposes; which was ordered to lie on the
table; as follows:

On page 29, after line 20, add the following:

SEC. ___. EXTENSION OF CERTAIN OUTER CONTINENTAL SHELF
LEASES.

(a) Definition of Covered Lease.--In this section, the term
``covered lease'' means each oil and gas lease for the Gulf
of Mexico outer Continental Shelf region issued under section
8 of the Outer Continental Shelf Lands Act (43 U.S.C. 1337)
that was--
(1) not producing as of April 30, 2010; or
(2) suspended from operations, permit processing, or
consideration, in accordance with the moratorium set forth in
the Minerals Management Service Notice to Lessees and
Operators No. 2010-N04, dated May 30, 2010, or the decision
memorandum of the Secretary of the Interior entitled
``Decision memorandum regarding the suspension of certain
offshore permitting and drilling activities on the Outer
Continental Shelf'' and dated July 12, 2010.
(b) Extension of Covered Leases.--The Secretary of the
Interior shall extend the term of a covered lease by 1 year.
(c) Effect on Suspensions of Operations or Production.--The
extension of covered leases under this Act is in addition to
any suspension of operations or suspension of production
granted by the Minerals Management Service or Bureau of Ocean
Energy Management, Regulation and Enforcement after May 1,
2010.
______

SA 407. Mr. CARDIN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end, add the following:

SEC. 22. PROHIBITION ON INTEREST CHARGES FOR ON-TIME
PRINCIPAL PAYMENTS.

Section 203 of the National Housing Act (12 U.S.C. 1709) is
amended by adding at the end the following:
``(z) Prohibition on Interest Charges for On-time Principal
Payments.--Each mortgagee (or servicer) with respect to a
mortgage under this section may not impose, nor may the
Secretary require the imposition of, any interest charge on
such a mortgage as a result of the loss of any time period
provided by the mortgagee (or servicer) within which the
mortgagor may fully repay the principal balance amount of the
mortgage, with respect to--
``(1) any days in the billing cycle that precedes the most
recent billing cycle in which such amounts were repaid; or
``(2) any amounts repaid in the current billing cycle that
were repaid within such time period.''.
______

SA 408. Mr. PAUL submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. REMOVAL OF INSURANCE MORATORIUM FOR INDUSTRIAL
BANKS.

Section 603(a) of the Bank and Savings Association Holding
Company and Depository Institution Regulatory Improvements
Act of 2010 (12 U.S.C. 1815 note) is amended--
(1) in paragraph (1)--
(A) in subparagraph (A), by adding ``and'' at the end;
(B) by striking subparagraph (B); and
(C) by redesignating subparagraph (C) as subparagraph (B);
(2) in each of paragraphs (2) and (3), by striking ``an
industrial bank, a credit card bank,'' each place that term
appears and inserting ``a credit card bank''; and
(3) in paragraph (3), by striking ``the industrial bank,
credit card bank,'' each place that term appears and
inserting ``credit card bank''.
______

SA 409. Mr. PAUL submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. LIMITED ANTITRUST EXEMPTION.

(a) In General.--The antitrust laws, as defined in
subsection (a) of the first section of the Clayton Act (15
U.S.C. 12), and the law of unfair competition under section 5
of the Federal Trade Commission Act (15 U.S.C. 45) shall not
apply to any joint discussion, consideration, review, or
action by or among merchants, financial institutions, or
payment networks negotiating and entering into agreements
with respect to fees.
(b) Definitions.--In this section:
(1) Financial institution.--The term ``financial
institution'' has the same meaning as in section 3 of the
Federal Deposit Insurance Act (12 U.S.C. 1813) and includes a
Federal credit union, as defined in section 101 of the
Federal Credit Union Act (12 U.S.C. 1752).
(2) Payment networks.--The term ``payment network'' means
an entity that directly, or through licensed members,
processors, or agents, provides the proprietary services,
infrastructure or software that route information and data to
conduct transaction authorization, clearance, or settlement,
and that a person uses in order to accept as a form of
payment.
4_____

SA 410. Mr. McCAIN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end of the bill, add the following:

SEC. ___. POSTAL SERVICE POLICY.

Section 101(b) of title 39, United States Code, is
amended--
(1) in the first sentence, by striking ``a maximum degree
of''; and
(2) by striking ``where post offices are not self-
sustaining. No small post office shall be closed solely for
operating at a deficit, it being'' and inserting ``. It is''.
4_____

SA 411. Mr. McCAIN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the end of the bill, add the following:

SEC. __. PROHIBITION ON USE OF FEDERAL FUNDS TO CONSTRUCT
ETHANOL BLENDER PUMPS OR ETHANOL STORAGE
FACILITIES.

Effective beginning on the date of enactment of this Act,
no funds made available by Federal law (including funds in
any trust fund to which funds are made by Federal law) shall
be expended for the construction of an ethanol blender pump
or an ethanol storage facility.
______

SA 412. Mr. McCAIN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

[[Page S3566]]

On page _, between lines _ and _, insert the following:

SEC. __. REPEAL OF DAVIS-BACON WAGE REQUIREMENTS.

(a) In General.--Subchapter IV of chapter 31 of title 40,
United States Code, is repealed.
(b) Reference.--Any reference in any law to a wage
requirement of subchapter IV of chapter 31 of title 40,
United States Code, shall after the date of the enactment of
this Act be null and void.
(c) Effective Date and Limitation.--The amendments made by
this section shall not affect any contract in existence on
the date of enactment of this Act or made pursuant to
invitation for bids outstanding on such date of enactment.
______

SA 413. Mr. McCAIN submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. PROHIBITION ON PRINTING THE CONGRESSIONAL RECORD.

(a) Prohibition on Printing.--
(1) In general.--Chapter 9 of title 44, United States Code,
is amended by striking section 903 and inserting the
following:

``Sec. 903. Congressional Record: daily and permanent forms

``(a) In General.--The public proceedings of each House of
Congress as reported by the Official Reporters, shall be
included in the Congressional Record, which shall be issued
in daily form during each session and shall be revised and
made electronically available promptly, as directed by the
Joint Committee on Printing, for distribution during and
after the close of each session of Congress. The daily and
the permanent Record shall bear the same date, which shall be
that of the actual day's proceedings reported. The Government
Printing Office shall not print the Congressional Record.
``(b) Electronic Availability.--
``(1) Government printing office.--The Government Printing
Office shall make the Congressional Record available to the
Secretary of the Senate and the Chief Administrative Officer
of the House of Representatives in an electronic form in a
timely manner to ensure the implementation of subsection (a).
``(2) Website.--The Secretary of the Senate and the Chief
Administrative Officer of the House of Representatives shall
make the Congressional Record available--
``(A) to the public on the websites of the Secretary of the
Senate and the Chief Administrative Officer of the House of
Representatives; and
``(B) in a format which enables the Congressional Record to
be downloaded and printed by users of the website.''.
(b) Congressional Record.--
(1) In general.--Chapter 9 of title 44, United States Code,
is amended--
(A) in section 905, in the first sentence, by striking
``printing'' and inserting ``inclusion''; and
(B) by striking sections 906, 909, and 910.
(2) Technical and conforming amendments.--The table of
sections for chapter 9 of title 44, United States Code, is
amended by striking the items relating to sections 906, 909,
and 910.
______

SA 414. Mr. PAUL submitted an amendment intended to be proposed by
him to the bill S. 782, to amend the Public Works and Economic
Development Act of 1965 to reauthorize that Act, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. INCREASE IN STATUTORY LIMIT ON THE PUBLIC DEBT.

(a) Finding.--The Congress finds that the President's
budget proposal, Budget of the United States Government,
Fiscal Year 2012, necessitates an increase in the statutory
debt limit of $2,406,000,000,000.
(b) Increase.--Subsection (b) of section 3101 of title 31,
United States Code, is amended by striking out the dollar
limitation contained in such subsection and inserting in lieu
thereof ``$16,700,000,000,000''.
______

SA 415. Mr. BARRASSO (for himself and Mr. Graham) submitted an
amendment intended to be proposed by him to the bill S. 782, to amend
the Public Works and Economic Development Act of 1965 to reauthorize
that Act, and for other purposes; which was ordered to lie on the
table; as follows:

On page _, between lines _ and _, insert the following:

SEC. __. STATE HEALTH CARE CHOICE.

(a) Purpose.--It is the purpose of this section to protect
States' rights and to ensure that States have the option to
continue to implement State laws relating to health care
delivery and health insurance that were in effect prior to
the date of enactment of the Patient Protection and
Affordable Care Act (Public Law 111-148).
(b) Protection of State Flexibility To Provide Health
Coverage.--
(1) State opt out of certain provisions of ppaca.--
(A) In general.--A State described in paragraph (2) may
elect to limit the application of any or all of the
provisions of the Patient Protection and Affordable Care Act
(Public Law 111-148) described in subparagraph (B) with
respect to health insurance coverage within that State.
(B) Provisions described.--The provisions of the Patient
Protection and Affordable Care Act described in this
subparagraph are as follows:
(i) Subtitles A through C of title I (and the amendments
made by such subtitles), except for sections 1253 and 1254.
(ii) Parts I, II, III, and V of subtitle D of title I (and
the amendments made by such parts).
(iii) Part I of subtitle E of title I (and the amendments
made by such part).
(iv) Subtitle F of title I (and the amendments made by such
part).
(v) Section 1561 (and the amendment made by such section).
(vi) Sections 2001 through 2006 and subtitle C of title II
(and the amendments made by such sections and subtitle).
(vii) Sections 10101 through 10107 (and the amendments made
by such sections).
(2) State described.--
(A) Enactment of state law.--A State described in this
paragraph is a State that enacts a law after the date of
enactment of this Act that--
(i) expresses the intent of the State to opt out of one or
more of the provisions of the Patient Protection and
Affordable Care Act (Public Law 111-148) described in
paragraph (1);
(ii) contains a list of the provisions of such Act which
will not apply to the State under the State law; and
(iii) expresses the intent of the State to continue to
administer health coverage-related laws as in effect in the
State on March 23, 2010, or that provides for the
implementation of related State laws enacted after such date.
(B) Repeal.--If a State repeals a law described in
subparagraph (A), the provisions of the Patient Protection
and Affordable Care Act listed in such law shall apply with
respect to such State beginning on the date of such repeal.
(3) Regulations.--The Secretary, in consultation with the
Secretary of the Treasury, shall promulgate regulations to
provide for the implementation of this section.

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