108TH CONGRESS

2D SESSION H. R. 4654

AN ACT

To reauthorize the Tropical Forest Conservation

other purposes.Act of 1998 through fiscal year 2007, and for

108TH CONGRESS

2D SESSION H. R. 4654

AN ACT

To reauthorize the Tropical Forest Conservation Act of 1998

through fiscal year 2007, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,
2

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1 SECTION 1. REDUCTION OF DEBT UNDER THE FOREIGN AS2 SISTANCE ACT OF 1961 AND TITLE I OF THE

3 AGRICULTURAL TRADE DEVELOPMENT AND

4 ASSISTANCE ACT OF 1954.

5 Section 806(d) of the Tropical Forest Conservation

6 Act of 1998 (22 U.S.C. 2431d(d)) is amended by adding

7 at the end the following new paragraphs:

8 ‘‘(4) $20,000,000 for fiscal year 2005.

9 ‘‘(5) $25,000,000 for fiscal year 2006.

10 ‘‘(6) $30,000,000 for fiscal year 2007.’’.

11 SEC. 2. USE OF FUNDS TO CONDUCT PROGRAM AUDITS

12 AND EVALUATIONS.

13 Section 806 of the Tropical Forest Conservation Act

14 of 1998 (22 U.S.C. 2431d) is amended by adding at the

15 end the following new subsection:

16 ‘‘(e) USE OF FUNDS TO CONDUCT PROGRAM AUDITS

17 AND EVALUATIONS.—Of the amounts made available to

18 carry out this part for a fiscal year, $200,000 is author19 ized to be made available to carry out audits and evalua20 tions of programs under this part, including personnel

21 costs associated with such audits and evaluations.’’.

22 SEC. 3. AUTHORITY TO ALLOW FOR PAYMENTS OF INTER23 EST AND PRINCIPAL IN LOCAL CURRENCIES.

24 (a) AUTHORITY UNDER THE FOREIGN ASSISTANCE

25 ACT OF 1961.—Section 806(c) of the Tropical Forest
3

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1 Conservation Act of 1998 (22 U.S.C. 2431d(c)) is

2 amended—

3 (1) in the matter preceding paragraph (1), by

4 striking ‘‘The following’’ and inserting ‘‘(1) The fol5 lowing’’;

6 (2) by redesignating paragraphs (1) and (2) as

7 subparagraphs (A) and (B), respectively; and

8 (3) by adding at the end the following:

9 ‘‘(2) In addition to the application of the provisions

10 relating to repayment of principal under section 705 of

11 this Act to the reduction of debt under subsection (a)(1)

12 (in accordance with paragraph (1)(A) of this subsection),

13 repayment of principal on a new obligation established

14 under subsection (b) may be made in the local currency

15 of the beneficiary country and deposited in the Tropical

16 Forest Fund of the country in the same manner as the

17 provisions relating to payment of interest on new obliga18 tions under section 706 of this Act.’’.

19 (b) AUTHORITY UNDER TITLE I OF THE AGRICUL20 TURAL TRADE DEVELOPMENT AND ASSISTANCE ACT OF

21 1954.—Section 807(c) of the Tropical Forest Conserva22 tion Act of 1998 (22 U.S.C. 2431e(c)) is amended—

23 (1) in the matter preceding paragraph (1), by

24 striking ‘‘The following’’ and inserting ‘‘(1) The fol25 lowing’’;
4

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1 (2) by redesignating paragraphs (1) and (2) as

2 subparagraphs (A) and (B), respectively; and

3 (3) by adding at the end the following:

4 ‘‘(2) In addition to the application of the provisions

5 relating to repayment of principal under section 605 of

6 the Agricultural Trade Development and Assistance Act

7 of 1954 to the reduction of debt under subsection (a)(1)

8 (in accordance with paragraph (1)(A) of this subsection),

9 repayment of principal on a new obligation established

10 under subsection (b) may be made in the local currency

11 of the beneficiary country and deposited in the Tropical

12 Forest Fund of the country in the same manner as the

13 provisions relating to payment of interest on new obliga14 tions under section 606 of such Act.’’.

15 (c) CONFORMING AMENDMENT.—Section 810(a) of

16 the Tropical Forest Conservation Act of 1998 (22 U.S.C.

17 2431h(a)) is amended by inserting ‘‘and principal’’ after

18 ‘‘interest’’.

Passed the House of Representatives September 7,

2004.

Attest:

Clerk.