I
103D CONGRESS
1ST SESSION
H. R. 3139
To amend the Japan-United States Friendship Act to recapitalize the Friend-
ship Trust Fund, to broaden investment authority, and to strengthen
criteria for membership on the Japan-United States Friendship Commis-
sion.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 27, 1993
Mr. WISE introduced the following bill; which was referred to the Committee
on Foreign Affairs
A BILL
To amend the Japan-United States Friendship Act to recapi-
talize the Friendship Trust Fund, to broaden investment
authority, and to strengthen criteria for membership on
the Japan-United States Friendship Commission.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. RECAPITALIZING THE FRIENDSHIP TRUST
FUND.
(a) AUTHORIZATION OF APPROPRIATIONS.—Section
3 of the Japan-United States Friendship Act (22 U.S.C.
2902) is amended—
(1) by adding at the end the following new sub-
section:
‘‘(f)(1) There are authorized to be appropriated to
the Fund $10,000,000, plus any amount described in
paragraph (2), for each of the fiscal years 1994 through
1998.
‘‘(2) Any unappropriated portion of the amount au-
thorized to be appropriated by paragraph (1) may be ap-
propriated in any subsequent fiscal year.’’.
(b) CONFORMING AMENDMENTS.—Section 7 of the
Japan-United States Friendship Act (22 U.S.C. 2906) is
amended—
(1) in subsection (a)(1), by striking ‘‘sections 3
(d) and (e)(1) of this Act’’ and inserting ‘‘sub-
sections (d), (e)(1), and (f) of section 3’’; and
(2) in subsection (b), by striking in the second
sentence ‘‘section 3(d) of this Act’’ and inserting
‘‘subsections (d) and (f) of section 3’’.
SEC. 2. UNITED STATES PANEL OF THE JOINT COMMITTEE
ON UNITED STATES-JAPAN CULTURAL AND
EDUCATIONAL COOPERATION.
Section 4 of the Japan-United States Friendship Act
(22 U.S.C. 2903) is amended by adding at the end the
following new subsection:
‘‘(d) The membership of the United States Panel of
the Joint Committee on United States-Japan Cultural and
Educational Cooperation shall be drawn from among indi-
viduals who are deeply familiar with Japan and United
States-Japan relations, as demonstrated in their pro-
fessional careers, and who have performed distinguished
service in—
‘‘(1) law, business, or finances;
‘‘(2) education, training, or research at post-
secondary levels;
‘‘(3) the media or publishing;
‘‘(4) foundation or philanthropic activity;
‘‘(5) the American arts, culture, or the human-
ities; or
‘‘(6) other aspects of American public life.’’.
SEC. 3. BROADENING INVESTMENT AUTHORITY.
Section 7 of the Japan-United States Friendship Act
(22 U.S.C. 2906) is amended—
(1) in subsection (b)—
(A) in the first sentence, by inserting ‘‘, at
the direction of the Chairman of the Commis-
sion,’’ after ‘‘ ‘Secretary’ )’’; and
(B) in the second sentence, by striking ‘‘in
interest bearing obligations of the United States
or in obligations guaranteed as to both prin-
cipal and interest by the United States’’ and in-
serting ‘‘in instruments of public debt with ma-
turities suitable to the needs of the Fund’’; and
(2) in subsection (c), by inserting ‘‘, at the di-
rection of the Chairman of the Commission,’’ after
‘‘sold’’.
Æ