SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Strengthen AmeriCorps Program Act''.

SEC. 2. PROCESS OF APPROVAL OF NATIONAL SERVICE POSITIONS.

    (a) Definitions.--In this Act, the terms ``approved national 
service position'' and ``Corporation'' have the meanings given the 
terms in section 101 of the National and Community Service Act of 1990 
(42 U.S.C. 12511).
    (b) Timing and Recording Requirements.--
            (1) In general.--Notwithstanding subtitles C and D of title 
        I of the National and Community Service Act of 1990 (42 U.S.C. 
        12571 et seq., 12601 et seq.), and any other provision of law, 
        in approving a position as an approved national service 
        position, the Corporation--
                    (A) shall approve the position at the time the 
                Corporation--
                            (i) enters into an enforceable agreement 
                        with an individual participant to serve in a 
                        program carried out under subtitle E of title I 
                        of that Act (42 U.S.C. 12611 et seq.) or title 
                        I of the Domestic Volunteer Service Act of 1973 
                        (42 U.S.C. 4951 et seq.); or
                            (ii) except as provided in clause (i), 
                        awards a grant to (or enters into a contract or 
                        cooperative agreement with) an entity to carry 
                        out a program for which such a position may be 
                        approved under section 123 of the National and 
                        Community Service Act of 1990 (42 U.S.C. 
                        12573); and
                    (B) shall record as an obligation an estimate of 
                the net present value of the national service 
                educational award associated with the position, based 
                on a formula that takes into consideration historical 
                rates of enrollment in such a program, and of earning 
                and using national service educational awards for such 
                a program.
            (2) Formula.--In determining the formula described in 
        paragraph (1)(B), the Corporation shall consult with the 
        Director of the Congressional Budget Office.
            (3) Certification report.--The Chief Executive Officer of 
        the Corporation shall annually prepare and submit to Congress a 
        report that contains a certification that the Corporation is in 
        compliance with the requirements of paragraph (1).
            (4) Approval.--The requirements of this subsection shall 
        apply to each approved national service position that the 
        Corporation approves--
                    (A) during fiscal year 2003 (before or after the 
                date of enactment of this Act); and
                    (B) during any subsequent fiscal year.
    (c) Reserve Account.--
            (1) Establishment and contents.--
                    (A) Establishment.--Notwithstanding subtitles C and 
                D of title I of the National and Community Service Act 
                of 1990 (42 U.S.C. 12571 et seq., 12601 et seq.), and 
                any other provision of law, within the National Service 
                Trust established under section 145 of the National and 
                Community Service Act of 1990 (42 U.S.C. 12601), the 
                Corporation shall establish a reserve account.
                    (B) Contents.--To ensure the availability of 
                adequate funds to support the awards of approved 
                national service positions for each fiscal year, the 
                Corporation shall place in the account--
                            (i) during fiscal year 2003, a portion of 
                        the funds that were appropriated for fiscal 
                        year 2003 or a previous fiscal year under 
                        section 501(a)(2) (42 U.S.C. 12681(a)(2)), and 
                        were made available to carry out subtitle C or 
                        D of title I of that Act, and remain available; 
                        and
                            (ii) during fiscal year 2004 or a 
                        subsequent fiscal year, a portion of the funds 
                        that were appropriated for that fiscal year 
                        under section 501(a)(2) and were made available 
                        to carry out subtitle C or D of title I of that 
                        Act.
            (2) Obligation.--The Corporation shall not obligate the 
        funds in the reserve account until the Corporation--
                    (A) determines that the funds will not be needed 
                for the payment of national service educational awards 
                associated with previously approved national service 
                positions; or
                    (B) obligates the funds for the payment of such 
                awards for such previously approved national service 
                positions.
    (d) Audits.--The accounts of the Corporation relating to the 
appropriated funds for approved national service positions, and the 
records demonstrating the manner in which the Corporation has recorded 
estimates described in subsection (b)(1)(B) as obligations, shall be 
audited annually by independent certified public accountants or 
independent licensed public accountants, certified or licensed by a 
regulatory authority of a State or other political subdivision of the 
United States in accordance with generally accepted auditing standards. 
A report containing the results of each such independent audit shall be 
included in the annual report required by subsection (b)(3).
    (e) Availability of Amounts.--Except as provided in subsection (c), 
all amounts included in the National Service Trust under paragraphs 
(1), (2), and (3) of section 145(a) of the National and Community 
Service Act of 1990 (42 U.S.C. 12601(a)) shall be available for 
payments of national service educational awards under section 148 of 
that Act (42 U.S.C. 12604).
Strengthen AmeriCorps Program Act - Revises the manner in which the Corporation for National and Community Service approves, and records obligations relating to, national service positions under the National and Community Service Act of 1990 and the Domestic Volunteer Service Act of 1973.
To improve the manner in which the Corporation for National and Community Service approves, and records obligations relating to, national service positions.