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103D CONGRESS

1ST SESSION H. R. 895

To abolish the Economic Development Administration.

IN THE HOUSE OF REPRESENTATIVES

FEBRUARY 16, 1993

Mr. HEFLEY introduced the following bill; which was referred jointly to the

Committees on Banking and Finance and Public Works and Transportation

A BILL

To abolish the Economic Development Administration.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE

4 This Act may be cited as the ‘‘Economic Development

5 Administration Sunset Act’’.

6 SEC. 2. ABOLISHMENT OF ECONOMIC DEVELOPMENT AD7 MINISTRATION AND ITS PROGRAMS.

8 (a) ABOLISHMENT OF ECONOMIC DEVELOPMENT

9 ADMINISTRATION.—The Economic Development Adminis10 tration is abolished.

11 (b) REPEAL OF ACTS.—The Public Works and Eco12 nomic Development Act of 1965 (42 U.S.C. 3121 et seq.)
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1 and the Local Public Works Capital Development and

2 Investment Act of 1976 (42 U.S.C. 6701 et seq.) are

3 repealed.

4 SEC. 3. CONCLUSION OF BUSINESS OF ECONOMIC DEVEL5 OPMENT ADMINISTRATION.

6 (a) AUTHORITY OF SECRETARY OF COMMERCE TO

7 CONCLUDE BUSINESS AND HONOR CONTRACTS.—The

8 Secretary of Commerce shall provide for the conclusion of

9 any outstanding affairs of the Economic Development Ad10 ministration, including matters affecting the disposition of

11 personnel. The Secretary of Commerce may take any ac12 tion that (if this Act had not been enacted) would have

13 been authorized as of the effective date of this Act under

14 the Acts repealed by section 2(b) and is necessary or ap15 propriate to administer and fulfill the terms of any grant,

16 contract, agreement, loan, obligation, debenture, or guar17 antee made by the Secretary pursuant to the Acts repealed

18 by section 2(b).

19 (b) EFFECT OF ABOLISHMENT ON EXPENDITURE OF

20 FUNDS ALREADY RECEIVED.—Section 2 may not be con21 strued to prevent the expenditure of any funds received

22 from a grant or loan under the Acts repealed by section

23 2(b). Any grant or loan made under such Acts before the

24 effective date of this Act shall be subject to any laws and
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1 regulations that would have applied to the grant or loan

2 if this Act had not been enacted.

3 (c) CONTINUANCE OF ECONOMIC DEVELOPMENT RE4 VOLVING FUND TO FINISH BUSINESS.—

5 (1) AUTHORIZED PURPOSES.—The Economic

6 Development Revolving fund established by section

7 203 of the Public Works and Economic Development

8 Act of 1965 (42 U.S.C. 3143) shall continue in ex9 istence for the following purposes:

10 (A) COLLECTIONS AND REPAYMENTS.—To

11 receive collections and repayments in connection

12 with assistance extended under the Acts re13 pealed by section 2(b) that would have been re14 quired under the Acts repealed by section 2(b)

15 to be deposited in the Economic Development

16 Revolving Fund if this Act had not been

17 enacted.

18 (B) PAYMENT OF OBLIGATIONS.—To pay

19 obligations and make expenditures in connec20 tion with the Acts repealed by section 2(b) that

21 would have been required under the Acts re22 pealed by section 2(b) if this Act had not been

23 enacted.

24 (2) TERMINATION OF FUND.—
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1 (A) CERTIFICATION.—When, in the discre2 tion of the Secretary of Commerce, the Eco3 nomic Development Revolving Fund is no

4 longer necessary to carry out the activities

5 under paragraph (1), the Secretary of com6 merce shall certify to the Secretary of the

7 Treasury that the Economic Development

8 Revolving Fund is no longer necessary.

9 (B) TERMINATION.—Upon receipt of the

10 certification under subparagraph (A), the Sec11 retary of the Treasury shall deposit into the

12 general fund of the Treasury as miscellaneous

13 receipts any moneys remaining in the Economic

14 Development Revolving Fund. The Secretary of

15 the Treasury shall take any action necessary to

16 terminate the Economic Development Revolving

17 Fund. The Secretary of the Treasury shall de18 posit into the general fund of the Treasury any

19 collections and repayments made after the ter20 mination of the Economic Development Revolv21 ing Fund in connection with the Acts repealed

22 by section 2(b).

23 SEC. 4. AUTHORIZATION OF APPROPRIATIONS.

24 There are authorized to be appropriated such sums

25 as may be necessary to carry out this Act.
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1 SEC. 5. EFFECTIVE DATE.

2 This Act shall take effect on the 1st day of the 1st

3 fiscal year that begins after the date of the enactment of

4 this Act.

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