I
103D CONGRESS
1ST SESSION
H. R. 88
To provide for the privatization of the United States Postal Service.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 5, 1993
Mr. CRANE introduced the following bill; which was referred to the Committee
on Post Office and Civil Service
A BILL
To provide for the privatization of the United States Postal
Service.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. TRANSFER TO A PRIVATE CORPORATION.
In accordance with the plan prescribed under section
3, all right, title, and interest of the United States in and
to all property of the Postal Service shall be transferred
to a corporation if, within 1 year after the date of the
enactment of this Act, such corporation satisfies the re-
quirements set forth in section 2.
SEC. 2. REQUIREMENTS FOR THE CORPORATION.
(a) IN GENERAL.—A corporation shall be considered
to satisfy the requirements of this section if such corpora-
tion—
(1) is incorporated under the laws of a State;
(2) is not a department, agency, or establish-
ment of the United States;
(3) is incorporated by not more than 9 individ-
uals who are especially qualified to establish and op-
erate an effective mail system by virtue of their edu-
cation, training, or experience, and who are chosen
by the employees of the Postal Service in an election
which shall be held at such time and in such manner
as the President shall by regulation prescribe;
(4) includes among its purposes the delivery of
postal services in a manner consistent with section
101(b) of title 39, United States Code, at rates es-
tablished in a manner consistent with section 101(d)
of such title;
(5) issues securities in a manner consistent
with subsection (b); and
(6) satisfies such other requirements as the
President may by regulation prescribe in order to
carry out the purposes of this Act.
(b) SECURITIES.—Any securities issued by the corpo-
ration—
(1) shall, during the 1-year period beginning on
the date of the enactment of this Act, be issued—
(A) only to employees of the Postal Serv-
ice;
(B) under a system (as developed under
section 4) which provides that securities shall
be issued to individuals based on their years of
service and levels of compensation; and
(C) subject to such terms and conditions,
including terms and conditions relating to the
sale, transfer, or other disposition of such secu-
rities following their issuance by the corpora-
tion, as may be necessary to promote the reten-
tion of well-qualified personnel; and
(2) may, after the end of that period, be offered
for sale to members of the general public under such
terms and conditions as the corporation considers
appropriate.
(c) RETIREMENT BENEFITS.—Retirement benefits
provided to employees of the corporation must be com-
parable to those which would have been afforded to those
individuals as employees of the Postal Service had this
Act not been enacted.
SEC. 3. TRANSFER PLAN; PRESIDENTIAL DETERMINATION;
RATE-SETTING AUTHORITY.
(a) TRANSFER PLAN.—Not later than the sixtieth
day after the date on which a corporation first satisfies
the requirements of section 2, as determined under sub-
section (b), the President shall, after consultation with the
commission under section 4, transmit to Congress—
(1) a comprehensive plan providing for the or-
derly transfer of all property subject to this Act, in-
cluding a timetable under which such transfer is
completed not later than 180 days after the date on
which such corporation first satisfies such require-
ments; and
(2) such recommendations for legislation as the
President considers necessary in order to carry out
the plan described in paragraph (1), including
recommendations—
(A) for the abolishment of the Postal Serv-
ice;
(B) for the continuation of the private ex-
press statutes with respect to the corporation
during the first 5 years of its existence; and
(C) for the repeal or modification of appro-
priate Federal statutes.
(b) PRESIDENTIAL DETERMINATION.—The Presi-
dent shall, for purposes of this section, determine the date