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(8) reliance on foreign oil for more than 60 per-
cent of our daily oil and gas consumption is a na-
tional security threat;
(9) the level of United States oil security is di-
rectly related to the level of domestic production of oil,
natural gas liquids, and natural gas; and
(10) a national security policy should be devel-
oped that ensures that adequate supplies of oil are
available at all times free of the threat of embargo or
other foreign hostile acts.
(c) DEFINITIONS.—In this section:
(1) BOARD.—The term ‘‘Board’’ means the Loan
Guarantee Board established by subsection (e).
(2) PROGRAM.—The term ‘‘Program’’ means the
Emergency Oil and Gas Guaranteed Loan Program
established by subsection (d).
(3) QUALIFIED
OIL
AND
GAS
COMPANY.—The
term ‘‘qualified oil and gas company’’ means a com-
pany that—
(A) is—
(i) an independent oil and gas com-
pany (within the meaning of section
57(a)(2)(B)(i) of the Internal Revenue Code
of 1986); or
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(ii) a small business concern under sec-
tion 3 of the Small Business Act (15 U.S.C.
632) (or a company based in Alaska, in-
cluding an Alaska Native Corporation cre-
ated pursuant to the Alaska Native Claims
Settlement Act (43 U.S.C. 1601 et seq.))
that is an oil field service company whose
main business is providing tools, products,
personnel, and technical solutions on a con-
tractual basis to exploration and production
operators that drill, complete wells, and
produce, transport, refine, and sell hydro-
carbons and their byproducts as the main
commercial business of the concern or com-
pany; and
(B) has experienced layoffs, production
losses, or financial losses since the beginning of
the oil import crisis, after January 1, 1997.
(d) EMERGENCY OIL AND GAS GUARANTEED LOAN
PROGRAM.—
(1) IN GENERAL.—There is established the Emer-
gency Oil and Gas Guaranteed Loan Program, the
purpose of which shall be to provide loan guarantees
to qualified oil and gas companies in accordance with
this section.
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(2) LOAN GUARANTEE BOARD.—There is estab-
lished to administer the Program a Loan Guarantee
Board, to be composed of—
(A) the Secretary of Commerce;
(B) the Chairman of the Board of Gov-
ernors of the Federal Reserve System, who shall
serve as Chairman of the Board; and
(C) the Chairman of the Securities and Ex-
change Commission.
(e) AUTHORITY.—
(1) IN GENERAL.—The Program may guarantee
loans provided to qualified oil and gas companies by
private banking and investment institutions in ac-
cordance with procedures, rules, and regulations es-
tablished by the Board.
(2) TOTAL
GUARANTEE
LIMIT.—The aggregate
amount of loans guaranteed and outstanding at any
time 
under 
this 
section 
shall 
not 
exceed
$500,000,000.
(3) INDIVIDUAL GUARANTEE LIMIT.—The aggre-
gate amount of loans guaranteed under this section
with respect to a single qualified oil and gas company
shall not exceed $10,000,000.
(4) EXPEDITIOUS ACTION ON APPLICATIONS.—
The Board shall approve or deny an application for
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a guarantee under this section as soon as practicable
after receipt of an application.
(5) ADDITIONAL COSTS.—For the additional cost
of the loans guaranteed under this subsection, includ-
ing the costs of modifying the loans as defined in sec-
tion 502 of the Congressional Budget Act of 1974 (2
U.S.C. 661a), there is appropriated $122,500,000 to
remain available until expended.
(f) REQUIREMENTS
FOR LOAN GUARANTEES.—The
Board may issue a loan guarantee on application by a
qualified oil and gas company under an agreement by a
private bank or investment company to provide a loan to
the qualified oil and gas company, if the Board determines
that—
(1) credit is not otherwise available to the com-
pany under reasonable terms or conditions sufficient
to meet its financing needs, as reflected in the finan-
cial and business plans of the company;
(2) the prospective earning power of the com-
pany, together with the character and value of the se-
curity pledged, provide a reasonable assurance of re-
payment of the loan to be guaranteed in accordance
with its terms;
(3) the loan to be guaranteed bears interest at a
rate determined by the Board to be reasonable, taking
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into account the current average yield on outstanding
obligations of the United States with remaining peri-
ods of maturity comparable to the maturity of the
loan; and
(4) the company has agreed to an audit by the
General Accounting Office before issuance of the loan
guarantee and annually while the guaranteed loan is
outstanding.
(g) TERMS AND CONDITIONS OF LOAN GUARANTEES.—
(1) LOAN
DURATION.—All loans guaranteed
under this section shall be repayable in full not later
than December 31, 2010, and the terms and condi-
tions of each such loan shall provide that the loan
agreement may not be amended, or any provision of
the loan agreement waived, without the consent of the
Board.
(2) LOAN SECURITY.—A commitment to issue a
loan guarantee under this section shall contain such
affirmative and negative covenants and other protec-
tive provisions as the Board determines are appro-
priate. The Board shall require security for the loans
to be guaranteed under this section at the time at
which the commitment is made.
(3) FEES.—A qualified oil and gas company re-
ceiving a loan guarantee under this section shall pay
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a fee to the Department of the Treasury to cover costs
of the program, but in no event shall such fee exceed
an amount equal to 0.5 percent of the outstanding
principal balance of the guaranteed loan.
(4) GUARANTEE
LEVEL.—No loan guarantee
may be provided under this section if the guarantee
exceeds 85 percent of the amount of principal of the
loan.
(h) REPORTS.—During fiscal year 1999 and each fis-
cal year thereafter until each guaranteed loan has been re-
paid in full, the Secretary of Commerce shall submit to
Congress a report on the activities of the Board.
(i) SALARIES AND ADMINISTRATIVE EXPENSES.—For
necessary expenses to administer the Program, $2,500,000
is appropriated to the Department of Commerce, to remain
available until expended, which may be transferred to the
Office of the Assistant Secretary for Trade Development of
the International Trade Administration.
(j) TERMINATION OF GUARANTEE AUTHORITY.—The
authority of the Board to make commitments to guarantee
any loan under this section shall terminate on December
31, 2001.
(k) REGULATORY ACTION.—Not later than 60 days
after the date of enactment of this Act, the Board shall issue
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such final procedures, rules, and regulations as are nec-
essary to carry out this section.
FEDERAL ADMINISTRATIVE AND TRAVEL EXPENSES
(RESCISSIONS)
SEC. 202. (a) Of the funds available in the nondefense
category to the agencies of the Federal Government,
$125,000,000 are hereby rescinded: Provided, That rescis-
sions pursuant to this subsection shall be taken only from
administrative and travel accounts: Provided further, That
rescissions shall be taken on a pro rata basis from funds
available to every Federal agency, department, and office
in the Executive Branch, including the Office of the Presi-
dent.
(b) Within 30 days after the date of enactment of this
Act, the Director of the Office of Management and Budget
shall submit to the Committees on Appropriations of the
House of Representatives and the Senate a listing of the
amounts by account of the reductions made pursuant to the
provisions of subsection (a) of this section.
CHAPTER 3
Ω3æBILATERAL ECONOMIC ASSISTANCE
FUNDS APPROPRIATED TO THE PRESIDENT
AGENCY FOR INTERNATIONAL DEVELOPMENT
INTERNATIONAL DISASTER ASSISTANCE
For an additional amount for ‘‘International Disaster
Assistance’’, $96,000,000 (increased by $67,000,000), to
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remain available until expended: Provided, That the entire
amount is designated by the Congress as an emergency
requirement pursuant to section 251(b)(2)(A) of the Bal-
anced Budget and Emergency Deficit Control Act of 1985,
as amended: Provided further, That the entire amount
shall be available only to the extent that an official budget
request for a specific dollar amount, that includes designa-
tion of the entire amount of the request as an emergency
requirement as defined in the Balanced Budget and Emer-
gency Deficit Control Act of 1985, as amended, is trans-
mitted by the President to the Congress.
OTHER BILATERAL ECONOMIC ASSISTANCE
ECONOMIC SUPPORT FUND
For an additional amount for ‘‘Economic Support
Fund’’, $105,000,000, to remain available until Sep-
tember 30, 2000, for assistance for Albania, Macedonia,
Bulgaria, Bosnia-Herzegovina, Montenegro, and Romania,
and for investigations and related activities in Kosovo and
in adjacent entities and countries regarding war crimes;
Provided, That these funds shall be available notwith-
standing any other provision of law except section 533 of
the Foreign Operations, Export Financing, and Related
Programs Appropriations Act, 1999 (as contained in divi-
sion A, section 101(d) of the Omnibus Consolidated and
Emergency Supplemental Appropriations Act, 1999 (Pub-
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lic Law 105–277)): Provided further, That the require-
ment for a notification through the regular notification
procedures of the Committees on Appropriations con-
tained in subsection (b)(3) of section 533 shall be deemed
to be satisfied if the Committees on Appropriations are
notified at least 5 days prior to the obligation of such
funds: Provided further, That the entire amount is des-
ignated by the Congress as an emergency requirement
pursuant to section 251(b)(2)(A) of the Balanced Budget
and Emergency Deficit Control Act of 1985, as amended.
ASSISTANCE FOR EASTERN EUROPE AND THE BALTIC
STATES
For an additional amount for ‘‘Assistance for East-
ern Europe and the Baltic States’’, $75,000,000, to re-
main available until September 30, 2000, of which up to
$1,000,000 may be used for administrative costs of the
U.S. Agency for International Development: Provided,
That the entire amount is designated by the Congress as
an
emergency
requirement
pursuant
to
section
251(b)(2)(A) of the Balanced Budget and Emergency
Deficit Control Act of 1985, as amended: Provided further,
That funds appropriated under this heading shall be obli-
gated and expended subject to the regular notification pro-
cedures of the Committees on Appropriations.
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DEPARTMENT OF STATE
MIGRATION AND REFUGEE ASSISTANCE
For an additional amount for ‘‘Migration and Ref-
ugee Assistance’’, $195,000,000, to remain available until
September 30, 2000, of which not more than $500,000
is for administrative expenses: Provided, That the entire
amount is designated by the Congress as an emergency
requirement pursuant to section 251(b)(2)(A) of the Bal-
anced Budget and Emergency Deficit Control Act of 1985,
as amended: Provided further, That the entire amount
shall be available only to the extent that an official budget
request for a specific dollar amount, that includes designa-
tion of the entire amount of the request as an emergency
requirement as defined in the Balanced Budget and Emer-
gency Deficit Control Act of 1985, as amended, is trans-
mitted by the President to the Congress.
UNITED STATES EMERGENCY REFUGEE AND MIGRATION
ASSISTANCE FUND
For an additional amount for the ‘‘United States
Emergency Refugee and Migration Assistance Fund’’, and
subject to the terms and conditions under that head,
$95,000,000, to remain available until expended: Pro-
vided, That the entire amount is designated by the Con-
gress as an emergency requirement pursuant to section
251(b)(2)(A) of the Balanced Budget and Emergency
Deficit Control Act of 1985, as amended.
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GENERAL PROVISION—THIS CHAPTER
SEC. 301. The value of commodities and services au-
thorized by the President through March 31, 1999, to be
drawn down under the authority of section 552(c)(2) of
the Foreign Assistance Act of 1961 to support inter-
national relief efforts relating to the Kosovo conflict shall
not be counted against the ceiling limitation of that sec-
tion: Provided, That such assistance relating to the
Kosovo conflict provided pursuant to section 552(a)(2)
may be made available notwithstanding any other provi-
sion of law.
CHAPTER 4
DEPARTMENT OF DEFENSE
MILITARY CONSTRUCTION
NORTH ATLANTIC TREATY ORGANIZATION SECURITY
INVESTMENT PROGRAM
For an additional amount for ‘‘North Atlantic Treaty
Organization
Security
Investment
Program’’,
$240,000,000, to remain available until expended: Pro-
vided, That the Secretary of Defense may make additional
contributions for the North Atlantic Treaty Organization,
as provided in section 2806 of title 10, United States
Code: Provided further, That the entire amount is des-
ignated by the Congress as an emergency requirement
pursuant to section 251(b)(2)(A) of the Balanced Budget
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and Emergency Deficit Control Act of 1985, as amended:
Provided further, That the entire amount shall be available
only to the extent that an official budget request for
$240,000,000, that includes designation of the entire
amount of the request as an emergency requirement as
defined in the Balanced Budget and Emergency Deficit
Control Act of 1985, as amended, is transmitted by the
President to the Congress.
GENERAL PROVISION—THIS CHAPTER
SEC. 401. In addition to amounts appropriated or
otherwise made available in the Military Construction Ap-
propriations Act, 1999, $831,000,000 is hereby appro-
priated to the Department of Defense, to remain available
until September 30, 2003, as follows:
‘‘Military Construction, Army’’, $295,800,000;
‘‘Military Construction, Navy’’, $166,270,000;
‘‘Military
Construction,
Air
Force’’,
$333,430,000; and
‘‘Military
Construction,
Defense-wide’’,
$35,500,000:
Provided, That notwithstanding any other provision of
law, such funds may be obligated or expended to carry
out military construction projects not otherwise authorized
by law: Provided further, That the entire amount is des-
ignated by the Congress as an emergency requirement
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pursuant to section 251(b)(2)(A) of the Balanced Budget
and Emergency Deficit Control Act of 1985, as amended:
Provided further, That the entire amount shall be available
only to the extent that an official budget request for
$831,000,000, that includes designation of the entire
amount of the request as an emergency requirement as
defined in the Balanced Budget and Emergency Deficit
Control Act of 1985, as amended, is transmitted by the
President to the Congress.
CHAPTER 5
DEPARTMENT OF AGRICULTURE
FARM SERVICE AGENCY
AGRICULTURAL CREDIT INSURANCE FUND PROGRAM
ACCOUNT
For additional gross obligations for the principal
amount of direct and guaranteed loans as authorized by
7 U.S.C. 1928–1929, to be available from funds in the
Agricultural Credit Insurance Fund, $1,095,000,000, as
follows: $350,000,000 for guaranteed farm ownership
loans; $200,000,000 for direct farm ownership loans;
$185,000,000
for
direct
farm
operating
loans;
$185,000,000 for subsidized guaranteed farm operating
loans; and $175,000,000 for emergency farm loans.
For the additional cost of direct and guaranteed farm
loans, including the cost of modifying such loans as de-
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fined in section 502 of the Congressional Budget Act of
1974, to remain available until September 30, 2000: farm
operating loans, $28,804,000, of which $12,635,000 shall
be for direct loans and $16,169,000 shall be for guaran-
teed subsidized loans; farm ownership loans, $35,505,000,
of which $29,940,000 shall be for direct loans and
$5,565,000 shall be for guaranteed loans; emergency
loans, $41,300,000; and administrative expenses to carry
out the loan programs, $4,000,000: Provided, That the en-
tire amount is designated by the Congress as an emer-
gency requirement pursuant to section 251(b)(2)(A) of the
Balanced Budget and Emergency Deficit Control Act of
1985, as amended.
OFFSETS—THIS CHAPTER
BILATERAL ECONOMIC ASSISTANCE
FUNDS APPROPRIATED TO THE PRESIDENT
AGENCY FOR INTERNATIONAL DEVELOPMENT
DEVELOPMENT ASSISTANCE
(RESCISSION)
Of the funds appropriated under this heading in Pub-
lic Law 105–118 and in prior acts making appropriations
for foreign operations, export financing, and related pro-
grams, $40,000,000 are rescinded.
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OTHER BILATERAL ECONOMIC ASSISTANCE
ECONOMIC SUPPORT FUND
(RESCISSION)
Of the funds appropriated under this heading in Pub-
lic Law 105–277 and in prior acts making appropriations
for foreign operations, export financing, and related pro-
grams, $17,000,000 are rescinded.
DEPARTMENT OF HEALTH AND HUMAN
SERVICES
HEALTH RESOURCES AND SERVICES ADMINISTRATION
FEDERAL CAPITAL LOAN PROGRAM FOR NURSING
(RESCISSION)
Of the funds made available under the Federal Cap-
ital Loan Program for Nursing appropriation account,
$2,800,000 are rescinded.
DEPARTMENT OF EDUCATION
EDUCATION RESEARCH, STATISTICS, AND IMPROVEMENT
(RESCISSION)
Of the funds made available under this heading in
section 101(f) of Public Law 105–277, $6,800,000 are re-
scinded.
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MILITARY ASSISTANCE
FUNDS APPROPRIATED TO THE PRESIDENT
PEACEKEEPING OPERATIONS
(RESCISSION)
Of the funds appropriated under this heading in Pub-
lic Law 105–277, $10,000,000 are rescinded.
MULTILATERAL ECONOMIC ASSISTANCE
FUNDS APPROPRIATED TO THE PRESIDENT
INTERNATIONAL FINANCIAL INSTITUTIONS
CONTRIBUTION TO THE INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPMENT
GLOBAL ENVIRONMENT FACILITY
(RESCISSION)
Of the funds appropriated under this heading in Pub-
lic Law 105–277, $25,000,000 are rescinded.
EXECUTIVE OFFICE OF THE PRESIDENT
FUNDS APPROPRIATED TO THE PRESIDENT
UNANTICIPATED NEEDS
(RESCISSION)
Of the funds made available under this heading in
Public Law 101–130, the Fiscal Year 1990 Dire Emer-
gency Supplemental to Meet the Needs of Natural Disas-
ters of National Significance, $10,000,000 are rescinded.
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CHAPTER 6
GENERAL PROVISION
SEC. 601. No part of any appropriation contained in
the Act shall remain available for obligation beyond the
current fiscal year unless expressly so provided herein.
SEC. 602. It is the sense of the Congress that there
should continue to be parity between the adjustments in
the compensation of members of the uniformed services
and the adjustments in the compensation of civilian em-
ployees of the United States.
This Act may be cited as the ‘‘Kosovo and Southwest
Asia Emergency Supplemental Appropriations Act, 1999’’.
GENERAL PROVISIONS
SEC. 301. No part of any appropriation contained in
the Act shall remain available for obligation beyond the cur-
rent fiscal year unless expressly so provided herein.
This Act may be cited as the ‘‘Emergency Steel Loan
Guarantee and Emergency Oil and Gas Guaranteed Loan
Act of 1999’’.
Amend the title so as to read: ‘‘An Act providing
emergency authority for guarantees of loans to qualified
steel and iron ore companies and to qualified oil and gas
companies, and for other purposes.’’.
Passed the House of Representatives May 6, 1999.
Attest:
JEFF TRANDAHL,
Clerk.
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Passed the Senate June 18, 1999.
Attest:
GARY SISCO,
Secretary.