SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Vietnam Education Foundation Act of 
2000''.

SEC. 2. PURPOSES.

    The purposes of this Act are the following:
            (1) To establish an international fellowship program under 
        which--
                    (A) Vietnamese nationals can undertake graduate and 
                post-graduate level studies in the sciences (natural, 
                physical, and environmental), mathematics, medicine, 
                and technology (including information technology); and
                    (B) United States citizens can teach in the fields 
                specified in subparagraph (A) in appropriate Vietnamese 
                institutions.
            (2) To further the process of reconciliation between the 
        United States and Vietnam and the building of a bilateral 
        relationship serving the interests of both countries.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Board.--The term ``Board'' means the Board of Directors 
        of the Foundation.
            (2) Foundation.--The term ``Foundation'' means the Vietnam 
        Education Foundation established in section 4.
            (3) Institution of higher education.--The term 
        ``institution of higher education'' has the meaning given the 
        term in section 101(a) of the Higher Education Act of 1965 (20 
        U.S.C. 1001(a)).
            (4) United states-vietnam debt agreement.--The term 
        ``United States-Vietnam debt agreement'' means the Agreement 
        Between the Government of the United States of America and the 
        Government of the Socialist Republic of Vietnam Regarding the 
        Consolidation and Rescheduling of Certain Debts Owed to, 
        Guaranteed by, or Insured by the United States Government and 
        the Agency for International Development, dated April 7, 1997.

SEC. 4. ESTABLISHMENT.

    There is established the Vietnam Education Foundation as an 
independent establishment of the executive branch under section 104 of 
title 5, United States Code.

SEC. 5. BOARD OF DIRECTORS.

    (a) In General.--The Foundation shall be subject to the supervision 
and direction of the Board of Directors, which shall consist of 13 
members, as follows:
            (1) Two members of the House of Representatives appointed 
        by the Speaker of the House of Representatives, one of whom 
        shall be appointed upon the recommendation of the Majority 
        Leader and one of whom shall be appointed upon the 
        recommendation of the Minority Leader, and who shall serve as 
        ex officio, nonvoting members.
            (2) Two members of the Senate, appointed by the President 
        pro tempore, one of whom shall be appointed upon the 
        recommendation of the Majority Leader and one of whom shall be 
        appointed upon the recommendation of the Minority Leader, and 
        who shall serve as ex officio, nonvoting members.
            (3) Secretary of State.
            (4) Secretary of Education.
            (5) Secretary of Treasury.
            (6) Six members to be appointed by the President from among 
        individuals in the nongovernmental sector who have academic 
        excellence or experience in the fields of concentration 
        specified in section 2(1)(A) or a general knowledge of Vietnam, 
        not less than three of whom shall be drawn from academic life.
    (b) Rotation of Membership.--(1) The term of office of each member 
appointed under subsection (a)(6) shall be 3 years, except that of the 
members initially appointed under that subsection, two shall serve for 
terms of one year, two shall serve for terms of two years, and two 
shall serve for terms of three years.
    (2) A member of Congress appointed under subsection (a)(1) or (2) 
shall not serve as a member of the Board for more than a total of six 
years.
    (c) Chair.--The Board shall elect one of the members appointed 
under subsection (a)(6) to serve as Chair.
    (d) Meetings.--The Board shall meet upon the call of the Chair but 
not less frequently than twice each year. A majority of the voting 
members of the Board shall constitute a quorum.
    (e) Duties.--The Board shall--
            (1) select the individuals who will be eligible to serve as 
        Fellows; and
            (2) provide overall supervision and direction of the 
        Foundation.
    (f) Compensation.--
            (1) In general.--Except as provided in paragraph (2), each 
        member of the Board shall serve without compensation, and 
        members who are officers or employees of the United States 
        shall serve without compensation in addition to that received 
        for their services as officers or employees of the United 
        States.
            (2) Travel expenses.--The members of the Board shall be 
        allowed travel expenses, including per diem in lieu of 
        subsistence, at rates authorized for employees of agencies 
        under subchapter I of chapter 57 of title 5, United States 
        Code, while away from their homes or regular places of business 
        in the performance of service for the Board.

SEC. 6. FELLOWSHIP PROGRAM.

    (a) Award of Fellowships.--
            (1) In general.--To carry out the purposes of this Act, the 
        Foundation shall award fellowships to--
                    (A) Vietnamese nationals to study at institutions 
                of higher education in the United States at graduate 
                and post-graduate levels in the following fields: 
                physical sciences, natural sciences, mathematics, 
                environmental sciences, medicine, technology, and 
                computer sciences; and
                    (B) United States citizens to teach in Vietnam in 
                appropriate Vietnamese institutions in the fields of 
                study described in subparagraph (A).
            (2) Special emphasis on scientific and technical vocabulary 
        in english.--Fellowships awarded under paragraph (1) may 
        include funding for the study of scientific and technical 
        vocabulary in English.
    (b) Criteria for Selection.--Fellowships under this Act shall be 
awarded to persons who meet the minimum criteria established by the 
Foundation, including the following:
            (1) Vietnamese nationals.--Vietnamese candidates for 
        fellowships shall have basic English proficiency and must have 
        the ability to meet the criteria for admission into graduate or 
        post-graduate programs in United States institutions of higher 
        learning.
            (2) United states citizen teachers.--American teaching 
        candidates shall be highly competent in their fields and be 
        experienced and proficient teachers.
    (c) Implementation.--The Foundation may provide, directly or by 
contract, for the conduct of nationwide competition for the purpose of 
selecting recipients of fellowships awarded under this section.
    (d) Authority To Award Fellowships on a Matching Basis.--The 
Foundation may require, as a condition of the availability of funds for 
the award of a fellowship under this Act, that an institution of higher 
education make available funds for such fellowship on a matching basis.
    (e) Fellowship Conditions.--A person awarded a fellowship under 
this Act may receive payments authorized under this Act only during 
such periods as the Foundation finds that the person is maintaining 
satisfactory proficiency and devoting full time to study or teaching, 
as appropriate, and is not engaging in gainful employment other than 
employment approved by the Foundation pursuant to regulations of the 
Board.
    (f) Funding.--
            (1) Fiscal year 2001.--
                    (A) Authorization of appropriations.--There are 
                authorized to be appropriated to the Foundation 
                $5,000,000 for fiscal year 2001 to carry out the 
                activities of the Foundation.
                    (B) Availability of funds.--Amounts appropriated 
                pursuant to subparagraph (A) are authorized to remain 
                available until expended.
            (2) Fiscal year 2002 and subsequent fiscal years.--
        Effective October 1, 2001, the Foundation shall utilize funds 
        transferred to the Foundation under section 7.

SEC. 7. VIETNAM DEBT REPAYMENT FUND.

    (a) Establishment.--Notwithstanding any other provision of law, 
there is established in the Treasury a separate account which shall be 
known as the Vietnam Debt Repayment Fund (in this subsection referred 
to as the ``Fund'').
    (b) Deposits.--There shall be deposited as offsetting receipts into 
the Fund all payments (including interest payments) made by the 
Socialist Republic of Vietnam under the United States-Vietnam debt 
agreement.
    (c) Availability of the Funds.--
            (1) Fiscal year limitation.--Beginning with fiscal year 
        2002, and each subsequent fiscal year through fiscal year 2018, 
        $5,000,000 of the amounts deposited into the Fund (or accrued 
        interest) each fiscal year shall be available to the 
        Foundation, without fiscal year limitation, under paragraph 
        (2).
            (2) Disbursement of funds.--The Secretary of the Treasury, 
        at least on a quarterly basis, shall transfer to the Foundation 
        amounts allotted to the Foundation under paragraph (1) for the 
        purpose of carrying out its activities.
            (3) Transfer of excess funds to miscellaneous receipts.--
        Beginning with fiscal year 2002, and each subsequent fiscal 
        year through fiscal year 2018, the Secretary of the Treasury 
        shall withdraw from the Fund and deposit in the Treasury of the 
        United States as miscellaneous receipts all moneys in the Fund 
        in excess of amounts made available to the Foundation under 
        paragraph (1).
    (d) Annual Report.--The Board shall prepare and submit annually to 
Congress statements of financial condition of the Fund, including the 
beginning balance, receipts, refunds to appropriations, transfers to 
the general fund, and the ending balance.

SEC. 9. FOUNDATION PERSONNEL MATTERS.

    (a) Appointment by Board.--There shall be an Executive Secretary of 
the Foundation who shall be appointed by the Board without regard to 
the provisions of title 5, United States Code, or any regulation 
thereunder, governing appointment in the competitive service. The 
Executive Director shall be the Chief Executive Officer of the 
Foundation and shall carry out the functions of the Foundation subject 
to the supervision and direction of the Board. The Executive Director 
shall carry out such other functions consistent with the provisions of 
this Act as the Board shall prescribe. The decision to employ or 
terminate an Executive Director shall be made by an affirmative vote of 
at least 6 of the 9 voting members of the Board.
    (b) Professional Staff.--The Executive Director shall hire 
Foundation staff on the basis of professional and nonpartisan 
qualifications.
    (c) Experts and Consultants.--The Executive Director may procure 
temporary and intermittent services of experts and consultants as are 
necessary to the extent authorized by section 3109 of title 5, United 
States Code to carry out the purposes of the Foundation.
    (d) Compensation.--The Board may fix the compensation of the 
Executive Director and other personnel without regard to the provisions 
of chapter 51 and subchapter III of chapter 53 of title V, United 
States Code, relating to classification of positions and General 
Schedule pay rates, except that the rate of pay for the Executive 
Director and other personnel may not exceed the rate payable for level 
V of the Executive Schedule under section 5316 of such title.

SEC. 9. ADMINISTRATIVE PROVISIONS.

    (a) In General.--In order to carry out this title, the Foundation 
may--
            (1) prescribe such regulations as it considers necessary 
        governing the manner in which its functions shall be carried 
        out;
            (2) receive money and other property donated, bequeathed, 
        or devised, without condition or restriction other than it be 
        used for the purposes of the Foundation, and to use, sell, or 
        otherwise dispose of such property for the purpose of carrying 
        out its functions;
            (3) accept and use the services of voluntary and 
        noncompensated personnel;
            (4) enter into contracts or other arrangements, or make 
        grants, to carry out the provisions of this title, and enter 
        into such contracts or other arrangements, or make such grants, 
        with the concurrence of a majority of the members of the Board, 
        without performance or other bonds and without regard to 
        section 3709 of the Revised Statutes (41 U.S.C. 5);
            (5) rent office space in the District of Columbia; and
            (6) make other necessary expenditures.
    (b) Annual Report.--The Foundation shall submit to the President 
and to the Committee on Foreign Relations of the Senate and the 
Committee on International Relations of the House of Representatives an 
annual report of its operations under this Act.

SEC. 10. TERMINATION.

    (a) In General.--The Foundation may not award any new fellowship, 
or extend any existing fellowship, after September 30, 2016.
    (b) Abolishment.--Effective 120 days after the expiration of the 
last fellowship in effect under this Act, the Foundation is abolished.
Establishes the Vietnam Debt Repayment Fund which shall consist of deposits as offsetting receipts of all payments (including interest) made by the Socialist Republic of Vietnam under the U.S.-Vietnam debt agreement, dated April 7, 1997. Makes amounts deposited into the Fund available for Foundation activities.
Vietnam Education Foundation Act of 2000