H. R. 5633—42
after the budget process has occurred, or opportunities
to achieve cost savings.
‘‘(B) The contingency reserve fund may be used, if
needed, to cover revenue shortfalls experienced by the Dis-
trict government for 3 consecutive months (based on a
2 month rolling average) that are 5 percent or more below
the budget forecast.
‘‘(C) The contingency reserve fund may not be used
to fund any shortfalls in any projected reductions which
are included in the budget proposed by the District of
Columbia for the fiscal year.
‘‘(5) ALLOCATION OF CONTINGENCY CASH RESERVE.—Funds
may be allocated from the contingency reserve fund only after
an analysis has been prepared by the Chief Financial Officer
of the availability of other sources of funding to carry out
the purposes of the allocation and the impact of such allocation
on the balance and integrity of the contingency reserve fund.
‘‘(6) REPLENISHMENT.—The District of Columbia shall
appropriate sufficient funds each fiscal year in the budget
process to replenish any amounts allocated from the contin-
gency reserve fund during the preceding fiscal year by the
following fiscal year. Once the contingency reserve equals 3
percent of total funds appropriated from local funds for oper-
ating expenditures, the District of Columbia shall appropriate
sufficient funds each fiscal year in the budget process to
replenish any amounts allocated from the contingency reserve
fund during the preceding year to maintain a balance of at
least 3 percent of total funds appropriated from local funds
for operating expenditures by the following fiscal year.
‘‘(c) QUARTERLY REPORTS.—The Chief Financial Officer shall
submit a quarterly report to the Mayor, the Council, the District
of Columbia Financial Responsibility and Management Assistance
Authority (in the case of a fiscal year which is a control year,
as defined in section 305(4) of the District of Columbia Financial
Responsibility and Management Assistance Act of 1995), and the
Committees on Appropriations of the Senate and House of Rep-
resentatives that includes a monthly statement on the balance
and activities of the contingency and emergency reserve funds.’’.
(2) CLERICAL AMENDMENT.—The table of contents for the
District of Columbia Home Rule Act is amended by inserting
after the item relating to section 450 the following new item:
‘‘Sec. 450A. Reserve funds.’’.
(b) CONFORMING AMENDMENTS.—
(1) CURRENT RESERVE FUND.—Section 202( j) of the District
of Columbia Financial Responsibility and Management Assist-
ance Act of 1995 (sec. 47–392.2( j), D.C. Code) is amended—
(A) in paragraph (1), by striking ‘‘Beginning with fiscal
year 2000, the plan or budget submitted pursuant to this
Act’’ and inserting ‘‘For each of the fiscal years 2000
through 2004, the budget of the District government for
the fiscal year’’; and
(B) by adding at the end the following new paragraph:
‘‘(4) REPLENISHMENT.—Any amount of the reserve funds
which is expended in one fiscal year shall be replenished in
the reserve funds from the following fiscal year appropriations
to maintain the $150,000,000 balance.’’.
H. R. 5633—43
(2) POSITIVE FUND BALANCE.—Section 202(k) of such Act
(sec. 47–392.2(k), D.C. Code) is repealed.
(c) EFFECTIVE DATE.—This section and the amendments made
by this section shall take effect on October 1, 2000.
TREATMENT OF REVENUE BONDS SECURED BY TOBACCO SETTLEMENT
PAYMENTS
SEC. 160. (a) PERMITTING COUNCIL TO DELEGATE AUTHORITY
TO ISSUE BONDS.—
(1) IN GENERAL.—Section 490 of the District of Columbia
Home Rule Act (sec. 47–334, D.C. Code) is amended—
(A) by redesignating subsections (i) through (m) as
subsections ( j) through (n), respectively; and
(B) by inserting after subsection (h) the following new
subsection:
‘‘(i)(1) The Council may delegate to the District of Columbia
Tobacco Settlement Financing Corporation (hereafter in this sub-
section referred to as the ‘‘Corporation’’) established pursuant to
the Tobacco Settlement Financing Act of 2000 the authority of
the Council under subsection (a) to issue revenue bonds, notes,
and other obligations which are used to borrow money to finance
or assist in the financing or refinancing of capital projects and
other undertakings of the District of Columbia and which are pay-
able solely from and secured by payments under the Master Tobacco
Settlement Agreement. The Corporation may exercise authority
delegated to it by the Council as described in the first sentence
of this paragraph (whether such delegation is made before or after
the date of the enactment of this subsection) only in accordance
with this subsection and the provisions of the Tobacco Settlement
Financing Act of 2000.
‘‘(2) Revenue bonds, notes, and other obligations issued by
the Corporation under a delegation of authority described in para-
graph (1) shall be issued by resolution of the Corporation, and
any such resolution shall not be considered to be an act of the
Council.
‘‘(3) The fourth sentence of section 446 shall not apply to—
‘‘(A) any amount (including the amount of any accrued
interest or premium) obligated or expended from the proceeds
of the sale of any revenue bond, note, or other obligation issued
pursuant to this subsection;
‘‘(B) any amount obligated or expended for the payment
of the principal of, interest on, or any premium for any revenue
bond, note, or other obligation issued pursuant to this sub-
section;
‘‘(C) any amount obligated or expended to secure any rev-
enue bond, note, or other obligation issued pursuant to this
subsection; or
‘‘(D) any amount obligated or expended for repair, mainte-
nance, and capital improvements to facilities financed pursuant
to this subsection.
‘‘(4) In this subsection, the term ‘Master Tobacco Settlement
Agreement’ means the settlement agreement (and related docu-
ments), as may be amended from time to time, entered into on
November 23, 1998, by the District of Columbia and leading United
States tobacco product manufacturers.’’.
H. R. 5633—44
(2) CONFORMING AMENDMENT.—The fourth sentence of sec-
tion 446 of such Act (sec. 47–304, D.C. Code) is amended
by striking ‘‘and (h)(3)’’ and inserting ‘‘(h)(3), and (i)(3)’’.
(b) WAIVER OF CONGRESSIONAL REVIEW PERIOD FOR TOBACCO
SETTLEMENT FINANCING ACT.—Notwithstanding section 602(c)(1) of
the District of Columbia Home Rule Act (sec. 1–233(c)(1), D.C.
Code), the Tobacco Settlement Financing Act of 2000 (title XXXVII
of D.C. Act 13–375, as amended by section 8(e) of D.C. Act 13–
387) shall take effect on the date of the enactment of such Act
or the date of the enactment of this Act, whichever is later.
SEC. 161. Section 603(e) of the Student Loan Marketing Associa-
tion Reorganization Act of 1996 (Public Law 104–208; 110 Stat.
3009–293), as amended by section 153 of the District of Columbia
Appropriations Act, 2000, is amended—
(1) by amending the second sentence of paragraph (2)(B)
to read as follows: ‘‘Of such amounts and proceeds, $5,000,000
shall be set aside for a credit enhancement fund for public
charter schools in the District of Columbia, to be administered
and disbursed in accordance with paragraph (3).’’; and
(2) by adding at the end the following new paragraph:
‘‘(3) CREDIT
ENHANCEMENT
FUND
FOR
PUBLIC
CHARTER
SCHOOLS.—
‘‘(A) DISTRIBUTION OF AMOUNTS.—Of the amounts in
the credit enhancement fund established under paragraph
(2)(B)—
‘‘(i) 50 percent shall be used to make grants under
subparagraph (B); and
‘‘(ii) 50 percent shall be used to make grants under
subparagraph (C).
‘‘(B) GRANTS TO ELIGIBLE NONPROFIT CORPORATIONS.—
‘‘(i) IN GENERAL.—Using the amounts described in
subparagraph (A)(i), not later than 1 year after the
date of the enactment of the District of Columbia
Appropriations Act, 2001, the Mayor of the District
of Columbia shall make and disburse grants to eligible
nonprofit corporations to carry out the purposes
described in subparagraph (E).
‘‘(ii) ADMINISTRATION.—The Mayor shall admin-
ister the program of grants under this subparagraph,
except that if the committee described in subparagraph
(C)(iii) is in operation and is fully functional prior
to the date the Mayor makes the grants, the Mayor
may delegate the administration of the program to
the committee.
‘‘(C) OTHER GRANTS.—
‘‘(i) IN GENERAL.—Using the amounts described in
subparagraph (A)(ii), the Mayor of the District of
Columbia shall make grants to entities to carry out
the purposes described in subparagraph (E).
‘‘(ii) PARTICIPATION OF SCHOOLS.—A public charter
school in the District of Columbia may receive a grant
under this subparagraph to carry out the purposes
described in subparagraph (E) in the same manner
as other entities receiving grants to carry out such
activities.
‘‘(iii) ADMINISTRATION THROUGH COMMITTEE.—The
Mayor shall carry out this subparagraph through the
H. R. 5633—45
committee appointed by the Mayor under the second
sentence of paragraph (2)(B) (as in effect prior to the
enactment of the District of Columbia Appropriations
Act, 2001). The committee may enter into an agreement
with a third party to carry out its responsibilities under
this subparagraph.
‘‘(iv) CAP
ON
ADMINISTRATIVE
COSTS.—Not more
than 10 percent of the funds available for grants under
this subparagraph may be used to cover the adminis-
trative costs of making grants under this subpara-
graph.
‘‘(D) SPECIAL
RULE
REGARDING
ELIGIBILITY
OF
NON-
PROFIT CORPORATIONS.—In order to be eligible to receive
a grant under this paragraph, a nonprofit corporation must
provide appropriate certification to the Mayor or to the
committee described in subparagraph (C)(iii) (as the case
may be) that it is duly authorized by two or more public
charter schools in the District of Columbia to act on their
behalf in obtaining financing (or in assisting them in
obtaining financing) to cover the costs of activities described
in subparagraph (E)(i).
‘‘(E) PURPOSES OF GRANTS.—
‘‘(i) IN GENERAL.—The recipient of a grant under
this paragraph shall use the funds provided under
the grant to carry out activities to assist public charter
schools in the District of Columbia in—
‘‘(I) obtaining financing to acquire interests
in real property (including by purchase, lease, or
donation), including financing to cover planning,
development, and other incidental costs;
‘‘(II) obtaining financing for construction of
facilities or the renovation, repair, or alteration
of existing property or facilities (including the pur-
chase or replacement of fixtures and equipment),
including financing to cover planning, develop-
ment, and other incidental costs; and
‘‘(III) enhancing the availability of loans
(including mortgages) and bonds.
‘‘(ii) NO
DIRECT
FUNDING
FOR
SCHOOLS.—Funds
provided under a grant under this subparagraph may
not be used by a recipient to make direct loans or
grants to public charter schools.’’.
SEC. 162. (a) EXCLUSIVE AUTHORITY
OF MAYOR.—Notwith-
standing section 451 of the District of Columbia Home Rule Act
or any other provision of District of Columbia or Federal law to
the contrary, the Mayor of the District of Columbia shall have
the exclusive authority to approve and execute leases of the Wash-
ington Marina and the Washington municipal fish wharf with the
existing lessees thereof for an initial term of 30 years, together
with such other terms and conditions (including renewal options)
as the Mayor deems appropriate.
(b) DEFINITIONS.—In this section—
(1) the term ‘‘Washington Marina’’ means the portions of
Federal property in the Southwest quadrant of the District
of Columbia within Lot 848 in Square 473, the unassessed
Federal real property adjacent to Lot 848 in Square 473, and
riparian rights appurtenant thereto; and