  title xv miscellaneous provisions  sec 1501 restrictions on use of united states funds for foreign governments protection of american taxpayers  the bretton woods agreements act 22 usc 286 et seq is amended by adding at the end the following  sec 68 restrictions on use of united states funds for foreign governments protection of american taxpayers  a in general the secretary of the treasury shall instruct the united states executive director at the international monetary fund  1 to evaluate, prior to consideration by the board of executive directors of the fund , any proposal submitted to the board for the fund to make a loan to a country if  a the amount of the public debt of the country exceeds the gross domestic product of the country as of the most recent year for which such information is available and   b the country is not eligible for assistance from the international development association    2 opposition to loans unlikely to be repaid in full if any such evaluation indicates that the proposed loan is not likely to be repaid in full, the secretary of the treasury shall instruct the united states executive director at the fund to use the voice and vote of the united states to oppose the proposal    b reports to congress within 30 days after the board of executive directors of the fund approves a proposal described in subsection a , and annually thereafter by june 30, for the duration of any program approved under such proposals, the secretary of the treasury shall report in writing to the committee on financial services of the house of representatives and the committee on foreign relations and the committee on banking, housing, and urban affairs of the senate assessing the likelihood that loans made pursuant to such proposals will be repaid in full, including  1 the borrowing country s current debt status, including, to the extent possible, its maturity structure, whether it has fixed or floating rates, whether it is indexed, and by whom it is held   2 the borrowing country s external and internal vulnerabilities that could potentially affect its ability to repay and   3 the borrowing country s debt management strategy        sec 1502 conflict minerals  a sense of congress on exploitation and trade of conflict minerals originating in the democratic republic of the congo it is the sense of congress that the exploitation and trade of conflict minerals originating in the democratic republic of the congo is helping to finance conflict characterized by extreme levels of violence in the eastern democratic republic of the congo, particularly sexual- and gender-based violence, and contributing to an emergency humanitarian situation therein, warranting the provisions of section 13 p of the securities exchange act of 1934, as added by subsection b   b disclosure relating to conflict minerals originating in the democratic republic of the congo section 13 of the securities exchange act of 1934 15 usc 78m , as amended by this act, is amended by adding at the end the following new subsection  p disclosures relating to conflict minerals originating in the democratic republic of the congo  1 regulations  a in general not later than 270 days after the date of the enactment of this subsection, the commission shall promulgate regulations requiring any person described in paragraph 2 to disclose annually, beginning with the person s first full fiscal year that begins after the date of promulgation of such regulations, whether conflict minerals that are necessary as described in paragraph 2 b , in the year for which such reporting is required, did originate in the democratic republic of the congo or an adjoining country and, in cases in which such conflict minerals did originate in any such country, submit to the commission a report that includes, with respect to the period covered by the report  i a description of the measures taken by the person to exercise due diligence on the source and chain of custody of such minerals, which measures shall include an independent private sector audit of such report submitted through the commission that is conducted in accordance with standards established by the comptroller general of the united states, in accordance with rules promulgated by the commission, in consultation with the secretary of state and   ii a description of the products manufactured or contracted to be manufactured that are not drc conflict free drc conflict free is defined to mean the products that do not contain minerals that directly or indirectly finance or benefit armed groups in the democratic republic of the congo or an adjoining country , the entity that conducted the independent private sector audit in accordance with clause i , the facilities used to process the conflict minerals, the country of origin of the conflict minerals, and the efforts to determine the mine or location of origin with the greatest possible specificity    b certification the person submitting a report under subparagraph a shall certify the audit described in clause i of such subparagraph that is included in such report such a certified audit shall constitute a critical component of due diligence in establishing the source and chain of custody of such minerals   c unreliable determination if a report required to be submitted by a person under subparagraph a relies on a determination of an independent private sector audit, as described under subparagraph a i , or other due diligence processes previously determined by the commission to be unreliable, the report shall not satisfy the requirements of the regulations promulgated under subparagraph a i   d drc conflict free for purposes of this paragraph, a product may be labeled as drc conflict free if the product does not contain conflict minerals that directly or indirectly finance or benefit armed groups in the democratic republic of the congo or an adjoining country   e information available to the public each person described under paragraph 2 shall make available to the public on the internet website of such person the information disclosed by such person under subparagraph a    2 person described a person is described in this paragraph if  a the person is required to file reports with the commission pursuant to paragraph 1 a and   b conflict minerals are necessary to the functionality or production of a product manufactured by such person    3 revisions and waivers the commission shall revise or temporarily waive the requirements described in paragraph 1 if the president transmits to the commission a determination that  a such revision or waiver is in the national security interest of the united states and the president includes the reasons therefor and   b establishes a date, not later than 2 years after the initial publication of such exemption, on which such exemption shall expire    4 termination of disclosure requirements the requirements of paragraph 1 shall terminate on the date on which the president determines and certifies to the appropriate congressional committees, but in no case earlier than the date that is one day after the end of the 5-year period beginning on the date of the enactment of this subsection, that no armed groups continue to be directly involved and benefitting from commercial activity involving conflict minerals   5 definitions for purposes of this subsection, the terms adjoining country , appropriate congressional committees , armed group , and conflict mineral have the meaning given those terms under section 1502 of the dodd-frank wall street reform and consumer protection act      c strategy and map to address linkages between conflict minerals and armed groups  1 strategy  a in general not later than 180 days after the date of the enactment of this act, the secretary of state, in consultation with the administrator of the united states agency for international development, shall submit to the appropriate congressional committees a strategy to address the linkages between human rights abuses, armed groups, mining of conflict minerals, and commercial products   b contents the strategy required by subparagraph a shall include the following  i a plan to promote peace and security in the democratic republic of the congo by supporting efforts of the government of the democratic republic of the congo, including the ministry of mines and other relevant agencies, adjoining countries, and the international community, in particular the united nations group of experts on the democratic republic of congo, to  i monitor and stop commercial activities involving the natural resources of the democratic republic of the congo that contribute to the activities of armed groups and human rights violations in the democratic republic of the congo and   ii develop stronger governance and economic institutions that can facilitate and improve transparency in the cross-border trade involving the natural resources of the democratic republic of the congo to reduce exploitation by armed groups and promote local and regional development    ii a plan to provide guidance to commercial entities seeking to exercise due diligence on and formalize the origin and chain of custody of conflict minerals used in their products and on their suppliers to ensure that conflict minerals used in the products of such suppliers do not directly or indirectly finance armed conflict or result in labor or human rights violations   iii a description of punitive measures that could be taken against individuals or entities whose commercial activities are supporting armed groups and human rights violations in the democratic republic of the congo     2 map  a in general not later than 180 days after the date of the enactment of this act, the secretary of state shall, in accordance with the recommendation of the united nations group of experts on the democratic republic of the congo in their december 2008 report  i produce a map of mineral-rich zones, trade routes, and areas under the control of armed groups in the democratic republic of the congo and adjoining countries based on data from multiple sources, including  i the united nations group of experts on the democratic republic of the congo   ii the government of the democratic republic of the congo, the governments of adjoining countries, and the governments of other member states of the united nations and   iii local and international nongovernmental organizations    ii make such map available to the public and   iii provide to the appropriate congressional committees an explanatory note describing the sources of information from which such map is based and the identification, where possible, of the armed groups or other forces in control of the mines depicted    b designation the map required under subparagraph a shall be known as the conflict minerals map , and mines located in areas under the control of armed groups in the democratic republic of the congo and adjoining countries, as depicted on such conflict minerals map, shall be known as conflict zone mines   c updates the secretary of state shall update the map required under subparagraph a not less frequently than once every 180 days until the date on which the disclosure requirements under paragraph 1 of section 13 p of the securities exchange act of 1934, as added by subsection b , terminate in accordance with the provisions of paragraph 4 of such section 13 p   d publication in federal register the secretary of state shall add minerals to the list of minerals in the definition of conflict minerals under section 1502, as appropriate the secretary shall publish in the federal register notice of intent to declare a mineral as a conflict mineral included in such definition not later than one year before such declaration     d reports  1 baseline report not later than 1 year after the date of the enactment of this act and annually thereafter until the termination of the disclosure requirements under section 13 p of the securities exchange act of 1934, the comptroller general of the united states shall submit to appropriate congressional committees a report that includes an assessment of the rate of sexual- and gender-based violence in war-torn areas of the democratic republic of the congo and adjoining countries   2 regular report on effectiveness not later than 2 years after the date of the enactment of this act and annually thereafter, the comptroller general of the united states shall submit to the appropriate congressional committees a report that includes the following  a an assessment of the effectiveness of section 13 p of the securities exchange act of 1934, as added by subsection b , in promoting peace and security in the democratic republic of the congo and adjoining countries   b a description of issues encountered by the securities and exchange commission in carrying out the provisions of such section 13 p   c  i a general review of persons described in clause ii and whether information is publicly available about  i the use of conflict minerals by such persons and   ii whether such conflict minerals originate from the democratic republic of the congo or an adjoining country    ii a person is described in this clause if  i the person is not required to file reports with the securities and exchange commission pursuant to section 13 p 1 a of the securities exchange act of 1934, as added by subsection b and   ii conflict minerals are necessary to the functionality or production of a product manufactured by such person      3 report on private sector auditing not later than 30 months after the date of the enactment of this act, and annually thereafter, the secretary of commerce shall submit to the appropriate congressional committees a report that includes the following  a an assessment of the accuracy of the independent private sector audits and other due diligence processes described under section 13 p of the securities exchange act of 1934   b recommendations for the processes used to carry out such audits, including ways to  i improve the accuracy of such audits and   ii establish standards of best practices    c a listing of all known conflict mineral processing facilities worldwide     e definitions for purposes of this section  1 adjoining country the term adjoining country , with respect to the democratic republic of the congo, means a country that shares an internationally recognized border with the democratic republic of the congo   2 appropriate congressional committees the term appropriate congressional committees means  a the committee on appropriations, the committee on foreign affairs, the committee on ways and means, and the committee on financial services of the house of representatives and   b the committee on appropriations, the committee on foreign relations, the committee on finance, and the committee on banking, housing, and urban affairs of the senate    3 armed group the term armed group means an armed group that is identified as perpetrators of serious human rights abuses in the annual country reports on human rights practices under sections 116 d and 502b b of the foreign assistance act of 1961 22 usc 2151n d and 2304 b relating to the democratic republic of the congo or an adjoining country   4 conflict mineral the term conflict mineral means  a columbite-tantalite coltan , cassiterite, gold, wolframite, or their derivatives or   b any other mineral or its derivatives determined by the secretary of state to be financing conflict in the democratic republic of the congo or an adjoining country    5 under the control of armed groups the term under the control of armed groups means areas within the democratic republic of the congo or adjoining countries in which armed groups  a physically control mines or force labor of civilians to mine, transport, or sell conflict minerals   b tax, extort, or control any part of trade routes for conflict minerals, including the entire trade route from a conflict zone mine to the point of export from the democratic republic of the congo or an adjoining country or   c tax, extort, or control trading facilities, in whole or in part, including the point of export from the democratic republic of the congo or an adjoining country      sec 1503 reporting requirements regarding coal or other mine safety  a reporting mine safety information each issuer that is required to file reports pursuant to section 13 a or 15 d of the securities exchange act of 1934 15 usc 78m, 78o and that is an operator, or that has a subsidiary that is an operator, of a coal or other mine shall include, in each periodic report filed with the commission under the securities laws on or after the date of enactment of this act, the following information for the time period covered by such report  1 for each coal or other mine of which the issuer or a subsidiary of the issuer is an operator  a the total number of violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a coal or other mine safety or health hazard under section 104 of the federal mine safety and health act of 1977 30 usc 814 for which the operator received a citation from the mine safety and health administration   b the total number of orders issued under section 104 b of such act 30 usc 814 b   c the total number of citations and orders for unwarrantable failure of the mine operator to comply with mandatory health or safety standards under section 104 d of such act 30 usc 814 d   d the total number of flagrant violations under section 110 b 2 of such act 30 usc 820 b 2   e the total number of imminent danger orders issued under section 107 a of such act 30 usc 817 a   f the total dollar value of proposed assessments from the mine safety and health administration under such act 30 usc 801 et seq and   g the total number of mining-related fatalities    2 a list of such coal or other mines, of which the issuer or a subsidiary of the issuer is an operator, that receive written notice from the mine safety and health administration of  a a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of coal or other mine health or safety hazards under section 104 e of such act 30 usc 814 e or   b the potential to have such a pattern    3 any pending legal action before the federal mine safety and health review commission involving such coal or other mine    b reporting shutdowns and patterns of violations beginning on and after the date of enactment of this act, each issuer that is an operator, or that has a subsidiary that is an operator, of a coal or other mine shall file a current report with the commission on form 8k or any successor form disclosing the following regarding each coal or other mine of which the issuer or subsidiary is an operator  1 the receipt of an imminent danger order issued under section 107 a of the federal mine safety and health act of 1977 30 usc 817 a   2 the receipt of written notice from the mine safety and health administration that the coal or other mine has  a a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially contributed to the cause and effect of coal or other mine health or safety hazards under section 104 e of such act 30 usc 814 e or   b the potential to have such a pattern     c rule of construction nothing in this section shall be construed to affect any obligation of a person to make a disclosure under any other applicable law in effect before, on, or after the date of enactment of this act   d commission authority  1 enforcement a violation by any person of this section, or any rule or regulation of the commission issued under this section, shall be treated for all purposes in the same manner as a violation of the securities exchange act of 1934 15 usc 78a et seq or the rules and regulations issued thereunder, consistent with the provisions of this section, and any such person shall be subject to the same penalties, and to the same extent, as for a violation of such act or the rules or regulations issued thereunder   2 rules and regulations the commission is authorized to issue such rules or regulations as are necessary or appropriate for the protection of investors and to carry out the purposes of this section    e definitions in this section  1 the terms issuer and securities laws have the meaning given the terms in section 3 of the securities exchange act of 1934 15 usc 78c   2 the term coal or other mine means a coal or other mine, as defined in section 3 of the federal mine safety and health act of 1977 30 usc 802 , that is subject to the provisions of such act 30 usc 801 et seq and   3 the term operator has the meaning given the term in section 3 of the federal mine safety and health act of 1977 30 usc 802    f effective date this section shall take effect on the day that is 30 days after the date of enactment of this act    sec 1504 disclosure of payments by resource extraction issuers  section 13 of the securities exchange act of 1934 15 usc 78m , as amended by this act, is amended by adding at the end the following  q disclosure of payments by resource extraction issuers  1 definitions in this subsection  a the term commercial development of oil, natural gas, or minerals includes exploration, extraction, processing, export, and other significant actions relating to oil, natural gas, or minerals, or the acquisition of a license for any such activity, as determined by the commission   b the term foreign government means a foreign government, a department, agency, or instrumentality of a foreign government, or a company owned by a foreign government, as determined by the commission   c the term payment  i means a payment that is  i made to further the commercial development of oil, natural gas, or minerals and   ii not de minimis and    ii includes taxes, royalties, fees including license fees , production entitlements, bonuses, and other material benefits, that the commission, consistent with the guidelines of the extractive industries transparency initiative to the extent practicable , determines are part of the commonly recognized revenue stream for the commercial development of oil, natural gas, or minerals    d the term resource extraction issuer means an issuer that  i is required to file an annual report with the commission and   ii engages in the commercial development of oil, natural gas, or minerals    e the term interactive data format means an electronic data format in which pieces of information are identified using an interactive data standard and   f the term interactive data standard means standardized list of electronic tags that mark information included in the annual report of a resource extraction issuer    2 disclosure  a information required not later than 270 days after the date of enactment of the dodd-frank wall street reform and consumer protection act, the commission shall issue final rules that require each resource extraction issuer to include in an annual report of the resource extraction issuer information relating to any payment made by the resource extraction issuer, a subsidiary of the resource extraction issuer, or an entity under the control of the resource extraction issuer to a foreign government or the federal government for the purpose of the commercial development of oil, natural gas, or minerals, including  i the type and total amount of such payments made for each project of the resource extraction issuer relating to the commercial development of oil, natural gas, or minerals and   ii the type and total amount of such payments made to each government    b consultation in rulemaking in issuing rules under subparagraph a , the commission may consult with any agency or entity that the commission determines is relevant   c interactive data format the rules issued under subparagraph a shall require that the information included in the annual report of a resource extraction issuer be submitted in an interactive data format   d interactive data standard  i in general the rules issued under subparagraph a shall establish an interactive data standard for the information included in the annual report of a resource extraction issuer   ii electronic tags the interactive data standard shall include electronic tags that identify, for any payments made by a resource extraction issuer to a foreign government or the federal government  i the total amounts of the payments, by category   ii the currency used to make the payments   iii the financial period in which the payments were made   iv the business segment of the resource extraction issuer that made the payments   v the government that received the payments, and the country in which the government is located   vi the project of the resource extraction issuer to which the payments relate and   vii such other information as the commission may determine is necessary or appropriate in the public interest or for the protection of investors     e international transparency efforts to the extent practicable, the rules issued under subparagraph a shall support the commitment of the federal government to international transparency promotion efforts relating to the commercial development of oil, natural gas, or minerals   f effective date with respect to each resource extraction issuer, the final rules issued under subparagraph a shall take effect on the date on which the resource extraction issuer is required to submit an annual report relating to the fiscal year of the resource extraction issuer that ends not earlier than 1 year after the date on which the commission issues final rules under subparagraph a    3 public availability of information  a in general to the extent practicable, the commission shall make available online, to the public, a compilation of the information required to be submitted under the rules issued under paragraph 2 a   b other information nothing in this paragraph shall require the commission to make available online information other than the information required to be submitted under the rules issued under paragraph 2 a    4 authorization of appropriations there are authorized to be appropriated to the commission such sums as may be necessary to carry out this subsection       sec 1505 study by the comptroller general  a in general not later than 1 year after the date of enactment of this act, the comptroller general of the united states shall issue a report assessing the relative independence, effectiveness, and expertise of presidentially appointed inspectors general and inspectors general of designated federal entities, as such term is defined under section 8g of the inspector general act of 1978, and the effects on independence of the amendments to the inspector general act of 1978 made by this act   b report the report required by subsection a shall be issued to the committees on financial services and oversight and government reform of the house of representatives and the committees on banking, housing, and urban affairs and homeland security and governmental affairs of the senate    sec 1506 study on core deposits and brokered deposits  a study the corporation shall conduct a study to evaluate  1 the definition of core deposits for the purpose of calculating the insurance premiums of banks   2 the potential impact on the deposit insurance fund of revising the definitions of brokered deposits and core deposits to better distinguish between them   3 an assessment of the differences between core deposits and brokered deposits and their role in the economy and banking sector of the united states   4 the potential stimulative effect on local economies of redefining core deposits and   5 the competitive parity between large institutions and community banks that could result from redefining core deposits    b report to congress not later than 1 year after the date of enactment of this act, the corporation shall submit to the committee on banking, housing, and urban affairs of the senate and the committee on financial services of the house of representatives a report on the results of the study under subsection a that includes legislative recommendations, if any, to address concerns arising in connection with the definitions of core deposits and brokered deposits    