SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Library of Congress Financial 
Management Act of 2000''.

              TITLE I--LIBRARY OF CONGRESS REVOLVING FUND

SEC. 101. AVAILABILITY OF FUND FOR ACTIVITIES.

    The Librarian of Congress (hereafter in this Act referred to as the 
``Librarian'') is authorized--
            (1) to establish the activities described in section 102 as 
        Revolving Fund service activities; and
            (2) to establish Revolving Fund service units, which may be 
        partially or fully sustained through the Library of Congress 
        Revolving Fund established under section 103, to carry out such 
        activities.

SEC. 102. ACTIVITIES DESCRIBED.

    The activities described in this section are as follows:
            (1) The preparation of research reports, translations, 
        analytical studies, and related services for any entity of the 
        Federal Government or the government of the District of 
        Columbia.
            (2) The provision of any of the following services for 
        entities of the Federal Government or the government of the 
        District of Columbia:
                    (A) The centralized acquisition of publications and 
                library materials in any format.
                    (B) Information, research, and library support 
                services.
                    (C) Training in library and information services.
                    (D) Services related to any of the services 
                described in the preceding subparagraphs.
            (3) Decimal classification development.
            (4) The operation of a gift shop or other sales of items 
        associated with collections, exhibits, performances, and 
        special events of the Library of Congress.
            (5) The location, copying, storage, preservation, and 
        delivery services for library documents and audio-visual 
        materials (other than basic domestic interlibrary loan 
        services), and international interlibrary lending.
            (6) Special events and programs, performances, exhibits, 
        workshops, and training.
            (7) The cooperative acquisitions program described in 
        section 207 of the Legislative Branch Appropriations Act, 1998 
        (2 U.S.C. 182).

SEC. 103. LIBRARY OF CONGRESS REVOLVING FUND.

    (a) In General.--
            (1) Establishment.--There is established in the Treasury a 
        revolving fund to be known as the ``Library of Congress 
        Revolving Fund'' (hereafter in this Act referred to as the 
        ``Fund'').
            (2) Contents.--The Fund shall consist of the following 
        amounts:
                    (A) Amounts deposited under subsection (b).
                    (B) Credits under subsection (c).
                    (C) Such other amounts as may be appropriated for 
                the Fund under law.
            (3) Use of amounts in fund.--Amounts in the Fund shall be 
        available to the Librarian without fiscal year limitation to 
        carry out Revolving Fund service activities under this Act. 
        Obligations for such activities for any fiscal year are limited 
        to the total amounts specified in appropriations Acts for such 
        fiscal year.
    (b) Amounts Deposited.--
            (1) Funds attributable to revolving fund service 
        activities.--Upon the establishment by the Librarian of an 
        activity as a Revolving Fund service activity under section 
        101, the Librarian shall transfer to the Fund the following:
                    (A) Notwithstanding the requirements of section 
                1535(d) of title 31, United States Code, any obligated, 
                unexpended balances existing as of the date of the 
                establishment which are attributable to such activity.
                    (B) An amount equal to the difference between--
                            (i) the total value of the supplies, 
                        inventories, equipment, gift fund balances, and 
                        other assets of the activity; and
                            (ii) the total value of the liabilities 
                        (including the value of accrued annual leave of 
                        employees) of the activity.
                    (C) In the case of the cooperative acquisitions 
                program described in section 207 of the Legislative 
                Branch Appropriations Act, 1998, the balance existing 
                in the Cooperative Acquisitions Program Revolving Fund 
                established under section 207(a) of such Act as of the 
                date of the establishment of the program as a Revolving 
                Fund service activity.
            (2) Temporary transfers of previously appropriated funds.--
        The Librarian may temporarily transfer to the Fund other funds 
        appropriated to the Library of Congress, except that the Fund 
        shall reimburse the appropriate accounts of the Library of 
        Congress for amounts so transferred before the period of 
        availability of the Library appropriation expires.
    (c) Credits.--The Fund shall be credited with all amounts received 
by the Librarian which are attributable to Revolving Fund service 
activities, including--
            (1) fees, advances, and reimbursements;
            (2) gifts or bequests of money or property for credit to 
        such activity or the Fund;
            (3) receipts from sales and exchanges of property;
            (4) payments for loss or damage to property; and
            (5) receivables, inventories, and other assets.
    (d) Individual Accounting Requirement.--A separate account shall be 
maintained in the Fund with respect to each Revolving Fund service 
unit.
    (e) Excess Funds.--At such times as the Librarian determines to be 
appropriate, the Librarian shall transfer any amount in the Fund that 
the Librarian determines to be in excess of the amount required by the 
Fund to the Treasury for deposit as miscellaneous receipts.
    (f) Annual Report.--Not later than March 31 of each year, the 
Librarian shall submit to Congress an audited financial statement for 
the Fund for the preceding fiscal year. The audit of such statement 
shall be conducted in accordance with Government Auditing Standards for 
financial audits issued by the Comptroller General of the United 
States.

SEC. 104. OPERATION OF REVOLVING FUND SERVICE ACTIVITIES.

    (a) Rates for Purchase of Products and Services.--The Librarian is 
authorized to make any products and services provided as Revolving Fund 
service activities available for purchase at rates estimated by the 
Librarian to be adequate to recover, over a reasonable period of time, 
the direct and indirect costs to the activity of providing such 
products and services.
    (b) Advances of Funds.--Participants in Revolving Fund service 
activities shall pay for products and services of the activity by 
advance of funds--
            (1) if the Librarian determines that amounts in the 
        Revolving Fund are otherwise insufficient to cover the costs of 
        providing such products and services; or
            (2) upon agreement between participants and the Librarian.
    (c) Multi-Year Contracting Authority.--In the operation of 
Revolving Fund service activities, the Librarian may--
            (1) enter into contracts for the lease and acquisition of 
        goods and services (including severable services) for a period 
        that begins in one fiscal year and ends in the next fiscal 
        year, pursuant to section 303L of the Federal Property and 
        Administrative Services Act (41 U.S.C. 253l); and
            (2) enter into multi-year contracts for the acquisition of 
        property and services, pursuant to section 304B of such Act (41 
        U.S.C. 254c).

SEC. 105. REPEAL OF COOPERATIVE ACQUISITIONS PROGRAM.

    (a) In General.--Section 207 of the Legislative Branch 
Appropriations Act, 1998 (2 U.S.C. 182) is repealed.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect upon the establishment by the Librarian of the cooperative 
acquisitions program described in section 207 of the Legislative Branch 
Appropriations Act, 1998, as a Revolving Fund service activity under 
section 101.

SEC. 106. NO EFFECT ON PERSONNEL.

    Nothing in this title may be construed to affect the terms and 
conditions of employment of any employee of the Library of Congress who 
carries out any activity designated as a Revolving Fund service 
activity or who is assigned to a Revolving Fund service unit.

               TITLE II--CATALOGING PRODUCTS AND SERVICES

SEC. 201. AVAILABILITY OF CATALOGING PRODUCTS AND SERVICES.

    (a) In General.--The Librarian of Congress is authorized to make 
cataloging products and services created by the Library of Congress 
available for purchase at prices that reflect as closely as practicable 
the cost of distribution over a reasonable period of time. Any amounts 
paid to the Librarian for cataloging products and services pursuant to 
this subsection shall be deposited in the Treasury to the credit of the 
appropriation for salaries and expenses of the Library of Congress, and 
shall remain available until expended for expenses attributable to the 
necessary distribution of such products and services.
    (b) Definition.--In this title, the term ``cataloging products and 
services'' means bibliographic products and services (in any current or 
future format) that are used by libraries and library organizations, 
including other Library of Congress-created data bases, and related 
technical publications.

SEC. 202. CONFORMING AMENDMENT.

    The undesignated paragraph beginning ``The Librarian of Congress'' 
under the heading ``PUBLIC PRINTING AND BINDING'' in section 1 of the 
Act entitled ``An Act making appropriations for sundry civil expenses 
of the Government for the fiscal year ending June thirtieth, nineteen 
hundred and three, and for other purposes'', approved June 28, 1902 (2 
U.S.C. 150), is repealed.

            TITLE III--LIBRARY OF CONGRESS TRUST FUND BOARD

SEC. 301. REVISIONS TO MEMBERSHIP AND OPERATION OF LIBRARY OF CONGRESS 
              TRUST FUND BOARD.

    (a) Addition of Vice Chair of Joint Committee on the Library as 
Board Member.--Section 1 of the Act entitled ``An Act to create a 
Library of Congress Trust Fund Board, and for other purposes'', 
approved March 3, 1925 (2 U.S.C. 154), is amended in the first sentence 
of the first paragraph by inserting ``and the vice chair'' after 
``chairman.''
    (b) Quorum Requirement.--Section 1 of such Act (2 U.S.C. 154) is 
amended in the second sentence of the first paragraph by striking 
``Nine'' and inserting ``Seven''.
    (c) Temporary Extension of Board Member Term.--Section 1 of such 
Act (2 U.S.C. 154) is amended in the first paragraph by inserting after 
the first sentence the following: ``Upon request of the chair of the 
Board, any member whose term has expired may continue to serve on the 
Trust Fund Board until the earlier of the date on which such member's 
successor is appointed or the expiration of the 2-year period which 
begins on the date such member's term expires.''.

                        TITLE IV--EFFECTIVE DATE

SEC. 401. EFFECTIVE DATE.

    This Act and the amendments made by this Act shall take effect 
October 1, 2000.
(Sec. 105) Repeals provisions of the Legislative Branch Appropriations Act, 1998 establishing the Cooperative Acquisitions Program Revolving Fund for financing a Library program to acquire foreign publications and research materials on behalf of participating institutions on a cost-recovery basis.
(Sec. 106) Prohibits the construction of this title to affect the terms and conditions of employment of any Library of Congress employee who carries out any activities designated as a Revolving Fund service activity or who is assigned to a Revolving Fund service unit.
Title II: Cataloging Products and Services
 - Authorizes the Librarian of Congress to make cataloging products and services, created by the Library, available for purchase at prices that reflect as closely as practicable the cost of distribution over a reasonable period.
(Sec. 202) Repeals Federal law provisions that authorize the Librarian of Congress to sell copies of card indexes and other publications to institutions or individuals.
Title III: Library of Congress Trust Fund Board
 - Revises the composition of the Library of Congress Trust Fund Board to include the vice chair of the Joint Committee on the Library. Decreases the Board's quorum from nine to seven members for the transaction of business. Provides for a temporary extension of Board members' terms.
Title IV: Effective Date
 - Sets forth the effective date of this Act.
Library of Congress Financial Management Act of 2000