H. R. 889—6
PROCUREMENT, DEFENSE-WIDE
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–335, $32,000,000 are rescinded.
NATIONAL GUARD AND RESERVE EQUIPMENT
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–335, $30,000,000 are rescinded.
DEFENSE PRODUCTION ACT PURCHASES
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–139, $100,000,000 are rescinded.
RESEARCH, DEVELOPMENT, TEST AND EVALUATION
RESEARCH, DEVELOPMENT, TEST AND EVALUATION, ARMY
(RESCISSIONS)
Of the funds made available under this heading in Public
Law 103–139, $5,000,000 are rescinded.
Of the funds made available under this heading in Public
Law 103–335, $43,000,000 are rescinded.
RESEARCH, DEVELOPMENT, TEST AND EVALUATION, NAVY
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–335, $68,800,000 are rescinded.
RESEARCH, DEVELOPMENT, TEST AND EVALUATION, AIR FORCE
(RESCISSIONS)
Of the funds made available under this heading in Public
Law 103–139, $49,600,000 are rescinded.
Of the funds made available under this heading in Public
Law 103–335, $191,200,000 are rescinded.
RESEARCH, DEVELOPMENT, TEST AND EVALUATION, DEFENSE-WIDE
(RESCISSIONS)
Of the funds made available under this heading in Public
Law 103–139, $77,000,000 are rescinded.
Of the funds made available under this heading in Public
Law 103–335, $436,445,000 are rescinded.
H. R. 889—7
RELATED AGENCIES
NATIONAL SECURITY EDUCATION TRUST FUND
(RESCISSION)
Of the funds made available under this heading in Public
Law 102–172, $75,000,000 are rescinded.
CHAPTER III
GENERAL PROVISIONS
SEC. 101. No part of any appropriation contained in this Act
shall remain available for obligation beyond the current fiscal year
unless expressly so provided herein.
SEC. 102. Notwithstanding sections 607 and 630 of the Foreign
Assistance Act of 1961 (22 U.S.C. 2357, 2390) and sections 2608
and 2350j of title 10, United States Code, all funds received by
the United States as reimbursement for expenses for which funds
are provided in this Act shall be deposited in the Treasury as
miscellaneous receipts.
SEC. 103. During the current fiscal year, appropriations avail-
able to the Department of Defense for the pay of civilian personnel
may be used, without regard to the time limitations specified in
section 5523(a) of title 5, United States Code, for payments under
the provisions of section 5523 of title 5, United States Code, in
the case of employees, or an employee’s dependents or immediate
family, evacuated from Guantanamo Bay, Cuba, pursuant to the
August 26, 1994 order of the Secretary of Defense. This section
shall take effect as of March 5, 1995, and shall apply with respect
to any payment made on or after that date.
(INCLUDING TRANSFER OF FUNDS)
SEC. 104. In addition to amounts appropriated or otherwise
made available by this Act, $28,297,000 is hereby appropriated
to the Department of Defense and shall be available only for transfer
to the United States Coast Guard to cover the incremental operating
costs associated with Operations Able Manner, Able Vigil, Restore
Democracy, and Support Democracy: Provided, That such amount
is designated by Congress as an emergency requirement pursuant
to section 251(b)(2)(D)(i) of the Balanced Budget and Emergency
Deficit Control Act of 1985, as amended.
SEC. 105. (a) Section 8106A of the Department of Defense
Appropriations Act, 1995 (Public Law 103–335), is amended by
striking out the last proviso and inserting in lieu thereof the follow-
ing: ‘‘: Provided further, That if, after September 30, 1994, a member
of the Armed Forces (other than the Coast Guard) is approved
for release from active duty or full-time National Guard duty and
that person subsequently becomes employed in a position of civilian
employment in the Department of Defense within 180 days after
the release from active duty or full-time National Guard duty,
then that person is prohibited from receiving payments under a
Special Separation Benefits program (under section 1174a of title
10, United States Code) or a Voluntary Separation Incentive pro-
gram (under section 1175 of title 10, United States Code) by reason
of the release from active duty or full-time National Guard duty,
H. R. 889—8
and the person shall reimburse the United States the total amount,
if any, paid such person under the program before the employment
begins’’.
(b) Appropriations available to the Department of Defense for
fiscal year 1995 may be obligated for making payments under
sections 1174a and 1175 of title 10, United States Code.
(c) The amendment made by subsection (a) shall be effective
as of September 30, 1994.
SEC. 106. (a) Subsection 8054(g) of the Department of Defense
Appropriations Act, 1995 (Public Law 103–335), is amended to
read as follows: ‘‘Notwithstanding any other provisions of law, of
the amounts available to the Department of Defense during fiscal
year 1995, not more than $1,252,650,000 may be obligated for
financing activities of defense FFRDCs: Provided, That, in addition
to any other reductions required by this section, the total amounts
appropriated in titles II, III, and IV of this Act are hereby reduced
by $250,000,000 to reflect the funding ceiling contained in this
subsection and to reflect further reductions in amounts available
to the Department of Defense to finance activities carried out by
defense FFRDCs and other entities providing consulting services,
studies and analyses, systems engineering and technical assistance,
and technical, engineering and management support.’’.
(b) Subsection 8054(h) of the Department of Defense Appropria-
tions Act, 1995 (Public Law 103–335), is amended to read as follows:
‘‘The total amounts appropriated to or for the use of the Department
of Defense in titles II, III, and IV of this Act are reduced by
an additional $251,534,000 to reflect savings from the decreased
use of non-FFRDC consulting services by the Department of
Defense.’’.
(c) Not later than 60 days after enactment of this Act, the
Under Secretary of Defense (Comptroller) shall report to the
Committees on Appropriations of the Senate and the House of
Representatives as to the total, separate amounts of appropriations
provided, by title and by appropriations account, in titles II, III,
and IV of the Department of Defense Appropriations Act, 1995
(Public Law 103–335), as amended.
SEC. 107. Within sixty days of the enactment of this Act,
the President shall submit to Congress a report which shall include
the following:
(a) A detailed description of the estimated cumulative
incremental cost of all United States activities subsequent to
September 30, 1993, in and around Haiti, including but not
limited to—
(1) the cost of all deployments of United States Armed
Forces and Coast Guard personnel, training, exercises,
mobilization, and preparation activities, including the
preparation of police and military units of the other nations
of the multinational force involved in enforcement of sanc-
tions, limits on migration, establishment and maintenance
of migrant facilities at Guantanamo Bay and elsewhere,
and all other activities relating to operations in and around
Haiti; and
(2) the costs of all other activities relating to United
States policy toward Haiti, including humanitarian and
development assistance, reconstruction, balance of pay-
ments and economic support, assistance provided to reduce
or eliminate all arrearages owed to International Financial
H. R. 889—9
Institutions, all rescheduling or forgiveness of United
States bilateral and multilateral debt, aid and other finan-
cial assistance, all in-kind contributions, and all other costs
to the United States Government.
(b) A detailed accounting of the source of funds obligated
or expended to meet the costs described in paragraph (a),
including—
(1) in the case of funds expended from the Department
of Defense budget, a breakdown by military service or
defense agency, line item, and program; and
(2) in the case of funds expended from the budgets
of departments and agencies other than the Department
of Defense, by department or agency and program.
SEC. 108. None of the funds appropriated to the Department
of Defense for the Technology Reinvestment Program under Public
Law 103–335 shall be obligated for any new projects for which
a selection has not been made until the Under Secretary of Defense
for Acquisition and Technology certifies to the Congress that mili-
tary officers and civilian employees of the military departments
constitute a majority of the membership on each review panel
at every proposal evaluation step for the Technology Reinvestment
Program: Provided, That the Under Secretary of Defense for
Acquisition and Technology shall submit to the Congress a report
describing each new Technology Reinvestment Program project or
award and the military needs which the project addresses.
SEC. 109. None of the funds appropriated or otherwise made
available by this Act may be obligated or expended for assistance
to or programs in the Democratic People’s Republic of Korea, or
for implementation of the October 21, 1994, Agreed Framework
between the United States and the Democratic People’s Republic
of Korea, unless specifically appropriated for that purpose.
SEC. 110. During the current fiscal year, none of the funds
available to the Department of Defense for emergency and extraor-
dinary expenses may be obligated or expended in an amount of
$1,000,000 or more for any single transaction without prior notifica-
tion to the Committees on Appropriations of the Senate and House
of Representatives, the Senate Armed Services Committee, and
the House National Security Committee.
SEC. 111. (a) Notwithstanding any other provision of law, no
funds appropriated by this Act, or otherwise appropriated or made
available by any other Act, may be utilized for purposes of entering
into the agreement described in subsection (b) until the President
certifies to Congress that—
(1) Russia has agreed not to sell nuclear reactor components
to Iran; or
(2) the issue of the sale by Russia of such components
to Iran has been resolved in a manner that is consistent with—
(A) the national security objectives of the United
States; and
(B) the concerns of the United States with respect
to nonproliferation in the Middle East.
(b) The agreement referred to in subsection (a) is an agreement
known as the Agreement on the Exchange of Equipment, Tech-
nology, and Materials between the United States Government and
the Government of the Russian Federation, or any department
or agency of that government (including the Russian Ministry of
Atomic Energy), that the United States Government proposes to
H. R. 889—10
enter into under section 123 of the Atomic Energy Act of 1954
(42 U.S.C. 2153).
DEPARTMENT OF DEFENSE—MILITARY CONSTRUCTION
SEC. 112. None of the funds made available to the Department
of Defense for any fiscal year for military construction or family
housing may be obligated to initiate construction projects upon
enactment of this Act for any project on an installation that—
(1) was included in the closure and realignment rec-
ommendations submitted by the Secretary of Defense to the
Base Closure and Realignment Commission on February 28,
1995, unless removed by the Base Closure and Realignment
Commission, or
(2) is included in the closure and realignment recommenda-
tion as submitted to Congress in 1995 in accordance with
the Defense Base Closure and Realignment Act of 1990, as
amended (Public Law 101–510):
Provided, That the prohibition on obligation of funds for projects
located on an installation cited for realignment are only to be
in effect if the function or activity with which the project is associ-
ated will be transferred from the installation as a result of the
realignment: Provided further, That this provision will remain in
effect unless the Congress enacts a Joint Resolution of Disapproval
in accordance with the Defense Base Closure and Realignment
Act of 1990, as amended (Public Law 101–510).
(RESCISSIONS)
SEC. 113. Of the funds appropriated under Public Law 103–
307, the following funds are hereby rescinded from the following
accounts in the specified amounts:
Military Construction, Army, $3,500,000;
Military Construction, Navy, $3,500,000;
Military Construction, Air Force, $3,500,000;
North 
Atlantic 
Treaty 
Organization 
Infrastructure,
$33,000,000;
Base 
Realignment 
and 
Closure 
Account, 
Part 
III,
$32,000,000.
Of the funds appropriated under Public Law 102–136, the
following funds are hereby rescinded from the following account
in the specified amount:
Military Construction, Naval Reserve, $25,100,000.
SEC. 114. The Secretary of Defense shall not allocate a rescis-
sion to any military installation that the Secretary recommends
for closure or realignment in 1995 under section 2903(c) of the
Defense Base Closure and Realignment Act of 1990 (subtitle A
of title XXIX of Public Law 101–510; 10 U.S.C. 2687 note) in
an amount in excess of the proportionate share for each installation
for the current fiscal year of the funds rescinded from ‘‘Environ-
mental Restoration, Defense’’ by this Act.
SEC. 115. Funds in the amount of $76,900,000 received during
fiscal years 1994 and 1995 by the Department of the Air Force
pursuant to the ‘‘Memorandum of Agreement between the National
Aeronautics and Space Administration and the United States Air
Force on Titan IV/Centaur Launch Support for the Cassini Mission,’’
signed September 8, 1994, and September 23, 1994, and Attach-
ments A, B, and C to that Memorandum, shall be merged with
H. R. 889—11
appropriations available for research, development, test and evalua-
tion and procurement for fiscal years 1994 and 1995, and shall
be available for the same time period as the appropriation with
which merged, and shall be available for obligation only for those
Titan IV vehicles and Titan IV-related activities under contract
as of the date of enactment of this Act.
SEC. 116. Section 8025 of the Department of Defense Appropria-
tions Act, 1995 (Public Law 103–335), is amended by striking out
the 
amount 
‘‘$203,736,000’’ 
and 
inserting 
in 
lieu 
thereof
‘‘$170,036,000’’.
SEC. 117. In addition to the rescissions made elsewhere in
this Act, on September 15, 1995, $100,000,000 shall be rescinded
from appropriations under title III of the Department of Defense
Appropriations Act, 1993 (Public Law 102–396).
CHAPTER IV
DEPARTMENT OF TRANSPORTATION AND RELATED
AGENCIES
DEPARTMENT OF TRANSPORTATION
FEDERAL RAILROAD ADMINISTRATION
GRANTS TO THE NATIONAL RAILROAD PASSENGER CORPORATION
For an additional amount to enable the Secretary of Transpor-
tation to make a grant to the National Railroad Passenger Corpora-
tion, $21,500,000 is hereby appropriated which shall be available
until expended for capital improvements associated with safety-
related emergency repairs at the existing Pennsylvania Station
in New York City: Provided, That none of the funds herein appro-
priated shall be used for the redevelopment of the James A. Farley
Post Office Building in New York City as a train station and
commercial center: Provided further, That the $21,500,000 shall
be considered part of the Federal cost share for the redevelopment
of the James A. Farley Post Office Building, if authorized.
TITLE II
RESCISSIONS
The following rescissions of budget authority are made, namely:
CHAPTER I
DEPARTMENTS OF COMMERCE, JUSTICE, AND STATE, THE
JUDICIARY, AND RELATED AGENCIES
DEPARTMENT OF JUSTICE
IMMIGRATION AND NATURALIZATION SERVICE
IMMIGRATION EMERGENCY FUND
(RESCISSION)
Of the amounts made available under this heading in Public
Law 103–317, $45,000,000 are rescinded.
H. R. 889—12
DEPARTMENT OF COMMERCE
NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY
INDUSTRIAL TECHNOLOGY SERVICES
(RESCISSION)
Of the amounts made available under this heading in Public
Law 103–317 for the Advanced Technology Program, $90,000,000
are rescinded.
NATIONAL TELECOMMUNICATIONS AND INFORMATION
ADMINISTRATION
INFORMATION INFRASTRUCTURE GRANTS
(RESCISSION)
Of the amounts made available under this heading in Public
Law 103–317, $15,000,000 are rescinded.
RELATED AGENCIES
SMALL BUSINESS ADMINISTRATION
SALARIES AND EXPENSES
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–317 for tree-planting grants pursuant to section 24 of
the Small Business Act, as amended, $15,000,000 are rescinded.
LEGAL SERVICES CORPORATION
PAYMENT TO THE LEGAL SERVICES CORPORATION
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–317 for payment to the Legal Services Corporation to
carry out the purposes of the Legal Services Corporation Act of
1974, as amended, $15,000,000 are rescinded.
CHAPTER II
ENERGY AND WATER DEVELOPMENT
DEPARTMENT OF ENERGY
ATOMIC ENERGY DEFENSE ACTIVITIES
DEFENSE ENVIRONMENTAL RESTORATION AND WASTE MANAGEMENT
(RESCISSION)
Of the amounts made available under this heading in Public
Law 103–316 and prior years’ Energy and Water Development
Appropriations Acts, $200,000,000 are rescinded.
H. R. 889—13
DEPARTMENT OF DEFENSE—CIVIL
DEPARTMENT OF THE ARMY
CORPS OF ENGINEERS—CIVIL
FLOOD CONTROL, MISSISSIPPI RIVER AND TRIBUTARIES, ARKANSAS, IL-
LINOIS, KENTUCKY, LOUISIANA, MISSISSIPPI, MISSOURI, AND TEN-
NESSEE
Of the funds appropriated in Public Law 103–316, $3,000,000
is hereby authorized for appropriation to the Corps of Engineers
to initiate and complete remedial measures to prevent slope instabil-
ity at Hickman Bluff, Kentucky.
CHAPTER III
FOREIGN OPERATIONS, EXPORT FINANCING, AND RELATED
AGENCIES
MULTILATERAL ECONOMIC ASSISTANCE
FUNDS APPROPRIATED TO THE PRESIDENT
INTERNATIONAL FINANCIAL INSTITUTIONS
CONTRIBUTION TO THE INTERNATIONAL DEVELOPMENT ASSOCIATION
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–306, $60,000,000 are rescinded.
CONTRIBUTION TO THE AFRICAN DEVELOPMENT FUND
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–306, $62,014,000 are rescinded.
BILATERAL ECONOMIC ASSISTANCE
FUNDS APPROPRIATED TO THE PRESIDENT
AGENCY FOR INTERNATIONAL DEVELOPMENT
DEVELOPMENT ASSISTANCE FUND
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–306 and prior appropriations Acts, $12,500,000 are
rescinded.
ASSISTANCE FOR THE NEW INDEPENDENT STATES OF THE FORMER
SOVIET UNION
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–87 and Public Law 103–306, $7,500,000 are rescinded.
H. R. 889—14
Of the funds made available under this heading in Public
Law 103–87 for support of an officer resettlement program in Russia
as described in section 560(a)(5), $15,000,000 shall be allocated
to other economic assistance and for related programs for the New
Independent States of the Former Soviet Union notwithstanding
the allocations provided in section 560 of said Act: Provided, That
such funds shall not be available for assistance to Russia.
CHAPTER IV
DEPARTMENT OF THE INTERIOR AND RELATED AGENCIES
DEPARTMENT OF ENERGY
CLEAN COAL TECHNOLOGY
(RESCISSION)
Of the funds made available under this heading for obligation
in fiscal year 1996, $50,000,000 are rescinded and of the funds
made available under this heading for obligation in fiscal year
1997, $150,000,000 are rescinded: Provided, That funds made avail-
able in previous appropriations Acts shall be available for any
ongoing project regardless of the separate request for proposal
under which the project was selected.
DEPARTMENT OF THE INTERIOR
UNITED STATES FISH AND WILDLIFE SERVICE
RESOURCE MANAGEMENT
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–332—
(1) $1,500,000 are rescinded from the amounts available
for making determinations whether a species is a threatened
or endangered species and whether habitat is critical habitat
under the Endangered Species Act of 1973 (16 U.S.C. 1531
et seq.); and
(2) none of the remaining funds appropriated under that
heading may be made available for making a final determina-
tion that a species is threatened or endangered or that habitat
constitutes critical habitat (except a final determination that
a species previously determined to be endangered is no longer
endangered but continues to be threatened).
To the extent that the Endangered Species Act of 1973 has
been interpreted or applied in any court order (including an order
approving a settlement between the parties to a civil action) to
require the making of a determination respecting any number of
species or habitats by a date certain, that Act shall not be applied
to require that the determination be made by that date if the
making of the determination is made impracticable by the rescission
made by the preceding sentence.
H. R. 889—15
CHAPTER V
DEPARTMENTS OF LABOR, HEALTH AND HUMAN
SERVICES, EDUCATION, AND RELATED AGENCIES
DEPARTMENT OF LABOR
EMPLOYMENT AND TRAINING ADMINISTRATION
TRAINING AND EMPLOYMENT SERVICES
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–333 for carrying out title II, part C of the Job Training
Partnership Act, $200,000,000 are rescinded.
DEPARTMENT OF EDUCATION
SCHOOL IMPROVEMENT PROGRAMS
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–333 for new education infrastructure improvement grants,
$65,000,000 are rescinded.
STUDENT FINANCIAL ASSISTANCE
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–112, $35,000,000 made available for title IV, part A,
subpart 1 of the Higher Education Act are rescinded.
CHAPTER VI
DEPARTMENT OF TRANSPORTATION AND RELATED
AGENCIES
DEPARTMENT OF TRANSPORTATION
FEDERAL AVIATION ADMINISTRATION
FACILITIES AND EQUIPMENT
(AIRPORT AND AIRWAY TRUST FUND)
(RESCISSION)
Of the available balances under this heading that remain
unobligated for the ‘‘advanced automation system’’, $35,000,000 are
rescinded.
H. R. 889—16
FEDERAL HIGHWAY ADMINISTRATION
MISCELLANEOUS HIGHWAY DEMONSTRATION PROJECTS
(HIGHWAY TRUST FUND)
(RESCISSION)
Of the available appropriated balances provided in Public Law
93–87; Public Law 98–8; Public Law 98–473; and Public Law 100–
71, $12,004,450 are rescinded.
FEDERAL RAILROAD ADMINISTRATION
LOCAL RAIL FREIGHT ASSISTANCE
(RESCISSION)
Of the available balances under this heading, $6,563,000 are
rescinded.
PENNSYLVANIA STATION REDEVELOPMENT PROJECT
(RESCISSION)
Of the funds made available under this heading in Public
Law 103–331, $40,000,000 are rescinded.
CHAPTER VII
DEPARTMENTS OF VETERANS AFFAIRS AND HOUSING AND
URBAN DEVELOPMENT, AND INDEPENDENT AGENCIES
INDEPENDENT AGENCIES
ENVIRONMENTAL PROTECTION AGENCY
ADMINISTRATIVE PROVISION
The Congress finds that the 1990 amendments to the Clean
Air Act (Public Law 101–549) superseded prior requirements of
the Clean Air Act regarding the demonstration of attainment of
national ambient air quality standards for the South Coast, Ven-
tura, and Sacramento areas of California and thus eliminated the
obligation of the Administrator of the Environmental Protection
Agency to promulgate a Federal implementation plan under section
110(e) of the Clean Air Act for those areas. Upon the enactment
of this Act, any Federal implementation plan that has been promul-
gated by the Administrator of the Environmental Protection Agency
under the Clean Air Act for the South Coast, Ventura, or Sac-
ramento areas of California pursuant to a court order or settlement
shall be rescinded and shall have no further force and effect.
NATIONAL AERONAUTICS AND SPACE ADMINISTRATION
NATIONAL AERONAUTICAL FACILITIES
Public Law 103–327 is amended in the paragraph under this
heading by striking ‘‘March 31, 1997’’ and all that follows, and
inserting in lieu thereof: ‘‘September 30, 1997: Provided, That not
H. R. 889—17
to exceed $35,000,000 shall be available for obligation prior to
October 1, 1996.’’.
TITLE III—MISCELLANEOUS
SEC. 301. Notwithstanding sections 12106, 12107, and 12108
of title 46, United States Code, and section 27 of the Merchant
Marine Act, 1920 (46 App. U.S.C. 883), as applicable on the date
of enactment of this Act, the Secretary of Transportation may
issue a certificate of documentation for the vessel L. R. BEATTIE,
United States official number 904161.
TITLE IV—MEXICAN DEBT DISCLOSURE ACT OF 1995
SEC. 401. SHORT TITLE.
This title may be cited as the ‘‘Mexican Debt Disclosure Act
of 1995’’.
SEC. 402. FINDINGS.
The Congress finds that—
(1) Mexico is an important neighbor and trading partner
of the United States;
(2) on January 31, 1995, the President approved a program
of assistance to Mexico, in the form of swap facilities and
securities guarantees in the amount of $20,000,000,000, using
the exchange stabilization fund;
(3) the program of assistance involves the participation
of the Board of Governors of the Federal Reserve System,
the International Monetary Fund, the Bank for International
Settlements, the International Bank for Reconstruction and
Development, the Inter-American Development Bank, the Bank
of Canada, and several Latin American countries;
(4) the involvement of the exchange stabilization fund and
the Board of Governors of the Federal Reserve System means
that United States taxpayer funds will be used in the assistance
effort to Mexico;
(5) assistance provided by the International Monetary
Fund, the International Bank for Reconstruction and Develop-
ment, and the Inter-American Development Bank may require
additional United States contributions of taxpayer funds to
those entities;
(6) the immediate use of taxpayer funds and the potential
requirement for additional future United States contributions
of taxpayer funds necessitates congressional oversight of the
disbursement of funds; and
(7) the efficacy of the assistance to Mexico is contingent
on the pursuit of sound economic policy by the Government
of Mexico.
SEC. 403. PRESIDENTIAL REPORTS.
(a) REPORTING REQUIREMENT.—Not later than June 30, 1995,
and every 6 months thereafter, the President shall transmit to
the appropriate congressional committees a report concerning all
guarantees issued to, and short-term and long-term currency swaps
with, the Government of Mexico by the United States Government,
including the Board of Governors of the Federal Reserve System.
(b) CONTENTS OF REPORTS.—Each report described in subsection
(a) shall contain a description of the following actions taken, or
H. R. 889—18
economic situations existing, during the preceding 6-month period
or, in the case of the initial report, during the period beginning
on the date of enactment of this Act:
(1) Changes in wage, price, and credit controls in the Mexi-
can economy.
(2) Changes in taxation policy of the Government of Mexico.
(3) Specific actions taken by the Government of Mexico
to further privatize the economy of Mexico.
(4) Actions taken by the Government of Mexico in the
development of regulatory policy that significantly affected the
performance of the Mexican economy.
(5) Consultations concerning the program approved by the
President, including advice on economic, monetary, and fiscal
policy, held between the Government of Mexico and the Sec-
retary of the Treasury (including any designee of the Secretary)
and the conclusions resulting from any periodic reviews under-
taken by the International Monetary Fund pursuant to the
Fund’s loan agreements with Mexico.
(6) All outstanding loans, credits, and guarantees provided
to the Government of Mexico, by the United States Government,
including the Board of Governors of the Federal Reserve Sys-
tem, set forth by category of financing.
(7) The progress the Government of Mexico has made in
stabilizing the peso and establishing an independent central
bank or currency board.
(c) SUMMARY OF TREASURY DEPARTMENT REPORTS.—In addition
to the information required to be included under subsection (b),
each report required under this section shall contain a summary
of the information contained in all reports submitted under section
404 during the period covered by the report required under this
section.
SEC. 404. REPORTS BY THE SECRETARY OF THE TREASURY.
(a) REPORTING REQUIREMENT.—Beginning on the last day of
the first month which begins after the date of enactment of this
Act, and on the last day of every month thereafter, the Secretary
of the Treasury shall submit to the appropriate congressional
committees a report concerning all guarantees issued to, and short-
term and long-term currency swaps with, the Government of Mexico
by the United States Government, including the Board of Governors
of the Federal Reserve System.
(b) CONTENTS OF REPORTS.—Each report described in subsection
(a) shall include a description of the following actions taken, or
economic situations existing, during the month in which the report
is required to be submitted:
(1) The current condition of the Mexican economy.
(2) The reserve positions of the central bank of Mexico
and data relating to the functioning of Mexican monetary policy.
(3) The amount of any funds disbursed from the exchange
stabilization fund pursuant to the program of assistance to
the Government of Mexico approved by the President on Janu-
ary 31, 1995.
(4) The amount of any funds disbursed by the Board of
Governors of the Federal Reserve System pursuant to the pro-
gram of assistance referred to in paragraph (3).
(5) Financial transactions, both inside and outside of Mex-
ico, made during the reporting period involving funds disbursed
H. R. 889—19
to Mexico from the exchange stabilization fund or proceeds
of Mexican Government securities guaranteed by the exchange
stabilization fund.
(6) All outstanding guarantees issued to, and short-term
and medium-term currency swaps with, the Government of
Mexico by the Secretary of the Treasury, set forth by category
of financing.
(7) All outstanding currency swaps with the central bank
of Mexico by the Board of Governors of the Federal Reserve
System and the rationale for, and any expected costs of, such
transactions.
(8) The amount of payments made by customers of Mexican
petroleum companies that have been deposited in the account
at the Federal Reserve Bank of New York established to ensure
repayment of any payment by the United States Government,
including the Board of Governors of the Federal Reserve Sys-
tem, in connection with any guarantee issued to, or any swap
with, the Government of Mexico.
(9) Any setoff by the Federal Reserve Bank of New York
against funds in the account described in paragraph (8).
(10) To the extent such information is available, once there
has been a setoff by the Federal Reserve Bank of New York,
any interruption in deliveries of petroleum products to existing
customers whose payments were setoff.
(11) The interest rates and fees charged to compensate
the Secretary of the Treasury for the risk of providing financing.
SEC. 405. TERMINATION OF REPORTING REQUIREMENTS.
The requirements of sections 403 and 404 shall terminate on
the date that the Government of Mexico has paid all obligations
with respect to swap facilities and guarantees of securities made
available under the program approved by the President on January
31, 1995.
SEC. 406. PRESIDENTIAL CERTIFICATION REGARDING SWAP OF CUR-
RENCIES TO MEXICO THROUGH EXCHANGE STABILIZA-
TION FUND OR FEDERAL RESERVE.
(a) IN GENERAL.—Notwithstanding any other provision of law,
no loan, credit, guarantee, or arrangement for a swap of currencies
to Mexico through the exchange stabilization fund or by the Board
of Governors of the Federal Reserve System may be extended or
(if already extended) further utilized, unless and until the President
submits to the appropriate congressional committees a certification
that—
(1) there is no projected cost (as defined in the Credit
Reform Act of 1990) to the United States from the proposed
loan, credit, guarantee, or currency swap;
(2) all loans, credits, guarantees, and currency swaps are
adequately backed to ensure that all United States funds are
repaid;
(3) the Government of Mexico is making progress in ensur-
ing an independent central bank or an independent currency
control mechanism;
(4) Mexico has in effect a significant economic reform effort;
and
(5) the President has provided the documents described
in paragraphs (1) through (28) of House Resolution 80, adopted
March 1, 1995.
H. R. 889—20
(b) TREATMENT OF CLASSIFIED OR PRIVILEGED MATERIAL.—For
purposes of the certification required by subsection (a)(5), the Presi-
dent shall specify, in the case of any document that is classified
or subject to applicable privileges, that, while such document may
not have been produced to the House of Representatives, in lieu
thereof it has been produced to specified Members of Congress
or their designees by mutual agreement among the President, the
Speaker of the House, and the chairmen and ranking members
of the Committee on Banking and Financial Services, the Committee
on International Relations, and the Permanent Select Committee
on Intelligence of the House.
SEC. 407. DEFINITIONS.
For purposes of this title, the following definitions shall apply:
(1) APPROPRIATE CONGRESSIONAL COMMITTEES.—The term
‘‘appropriate congressional committees’’ means the Committees
on International Relations and Banking and Financial Services
of the House of Representatives, the Committees on Foreign
Relations and Banking, Housing, and Urban Affairs of the
Senate, and the Committees on Appropriations of the House
of Representatives and the Senate.
(2) EXCHANGE STABILIZATION FUND.—The term ‘‘exchange
stabilization fund’’ means the stabilization fund referred to
in section 5302(a)(1) of title 31, United States Code.
This Act may be cited as the ‘‘Emergency Supplemental Appro-
priations and Rescissions for the Department of Defense to Preserve
and Enhance Military Readiness Act of 1995’’.
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.