I
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.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE
This Act may be cited as the ‘‘Economic Development
Administration Sunset Act’’.
SEC. 2. ABOLISHMENT OF ECONOMIC DEVELOPMENT AD-
MINISTRATION AND ITS PROGRAMS.
(a) ABOLISHMENT
OF ECONOMIC DEVELOPMENT
ADMINISTRATION.—The Economic Development Adminis-
tration is abolished.
(b) REPEAL OF ACTS.—The Public Works and Eco-
nomic Development Act of 1965 (42 U.S.C. 3121 et seq.)
and the Local Public Works Capital Development and
Investment Act of 1976 (42 U.S.C. 6701 et seq.) are
repealed.
SEC. 3. CONCLUSION OF BUSINESS OF ECONOMIC DEVEL-
OPMENT ADMINISTRATION.
(a) AUTHORITY OF SECRETARY OF COMMERCE TO
CONCLUDE BUSINESS
AND HONOR CONTRACTS.—The
Secretary of Commerce shall provide for the conclusion of
any outstanding affairs of the Economic Development Ad-
ministration, including matters affecting the disposition of
personnel. The Secretary of Commerce may take any ac-
tion that (if this Act had not been enacted) would have
been authorized as of the effective date of this Act under
the Acts repealed by section 2(b) and is necessary or ap-
propriate to administer and fulfill the terms of any grant,
contract, agreement, loan, obligation, debenture, or guar-
antee made by the Secretary pursuant to the Acts repealed
by section 2(b).
(b) EFFECT OF ABOLISHMENT ON EXPENDITURE OF
FUNDS ALREADY RECEIVED.—Section 2 may not be con-
strued to prevent the expenditure of any funds received
from a grant or loan under the Acts repealed by section
2(b). Any grant or loan made under such Acts before the
effective date of this Act shall be subject to any laws and
regulations that would have applied to the grant or loan
if this Act had not been enacted.
(c) CONTINUANCE OF ECONOMIC DEVELOPMENT RE-
VOLVING FUND TO FINISH BUSINESS.—
(1) AUTHORIZED
PURPOSES.—The Economic
Development Revolving fund established by section
203 of the Public Works and Economic Development
Act of 1965 (42 U.S.C. 3143) shall continue in ex-
istence for the following purposes:
(A) COLLECTIONS AND REPAYMENTS.—To
receive collections and repayments in connection
with assistance extended under the Acts re-
pealed by section 2(b) that would have been re-
quired under the Acts repealed by section 2(b)
to be deposited in the Economic Development
Revolving Fund if this Act had not been
enacted.
(B) PAYMENT OF OBLIGATIONS.—To pay
obligations and make expenditures in connec-
tion with the Acts repealed by section 2(b) that
would have been required under the Acts re-
pealed by section 2(b) if this Act had not been
enacted.
(2) TERMINATION OF FUND.—
(A) CERTIFICATION.—When, in the discre-
tion of the Secretary of Commerce, the Eco-
nomic Development Revolving Fund is no
longer necessary to carry out the activities
under paragraph (1), the Secretary of com-
merce shall certify to the Secretary of the
Treasury that the Economic Development
Revolving Fund is no longer necessary.
(B) TERMINATION.—Upon receipt of the
certification under subparagraph (A), the Sec-
retary of the Treasury shall deposit into the
general fund of the Treasury as miscellaneous
receipts any moneys remaining in the Economic
Development Revolving Fund. The Secretary of
the Treasury shall take any action necessary to
terminate the Economic Development Revolving
Fund. The Secretary of the Treasury shall de-
posit into the general fund of the Treasury any
collections and repayments made after the ter-
mination of the Economic Development Revolv-
ing Fund in connection with the Acts repealed
by section 2(b).
SEC. 4. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated such sums
as may be necessary to carry out this Act.