459
with such maturities as ensure that amounts in the deposit
fund will be available as required for purposes of agree-
ments under subsection (b). Cash balances of the deposit
fund in excess of current requirements shall be maintained
in a form of uninvested funds and the Secretary of the
Treasury shall pay interest on these funds.
‘‘(d) WITHDRAWALS.—
‘‘(1) IN GENERAL.—The cash deposited into the
deposit fund established by subsection (a) may not be
withdrawn without the consent of the Secretary.
‘‘(2) USE OF INCOME.—Subject to paragraph (3),
the Secretary may pay any income earned on cash of
an obligor deposited into the deposit fund in accord-
ance with the terms of the agreement with the obligor
under subsection (b).
‘‘(3) RETENTION AGAINST DEFAULT.—The Sec-
retary may retain and offset any or all of the cash
of an obligor in the deposit fund, and any income re-
alized thereon, as part of the Secretary’s recovery
against the obligor in case of a default by the obligor
on an obligation.’’.
460
SEC. 3404. EXTENSION OF WAR RISK INSURANCE AUTHOR-
ITY.
Section 1214 of the Merchant Marine Act, 1936 (46
App. U.S.C. 1294) is amended by striking ‘‘June 30, 2000’’
and inserting ‘‘June 30, 2005’’.
SEC. 3405. OWNERSHIP OF THE JEREMIAH O’BRIEN.
Section 3302(l)(1)(C) of title 46, United States Code,
is amended by striking ‘‘owned by the United States Mari-
time Administration’’ and inserting ‘‘owned by the Na-
tional Liberty Ship Memorial, Inc.’’.
TITLE XXXV—PANAMA CANAL
COMMISSION
SEC. 3501. SHORT TITLE.
This title may be cited as the ‘‘Panama Canal Com-
mission Authorization Act for Fiscal Year 2000’’.
SEC. 3502. AUTHORIZATION OF EXPENDITURES.
(a) IN GENERAL.—Subject to subsection (b), the Pan-
ama Canal Commission is authorized to use amounts in
the Panama Canal Revolving Fund to make such expendi-
tures within the limits of funds and borrowing authority
available to it in accordance with law, and to make such
contracts and commitments, as may be necessary under the
Panama Canal Act of 1979 (22 U.S.C. 3601 et seq.) for
the operation, maintenance, improvement, and administra-
tion of the Panama Canal for fiscal year 2000 until the
termination of the Panama Canal Treaty of 1977.
461
(b) LIMITATIONS.—Until noon on December 31, 1999,
the Panama Canal Commission may expend from funds in
the Panama Canal Revolving Fund not more than $100,000
for official reception and representation expenses, of
which—
(1) not more than $28,000 may be used for offi-
cial reception and representation expenses of the Su-
pervisory Board of the Commission;
(2) not more than $14,000 may be used for offi-
cial reception and representation expenses of the Sec-
retary of the Commission; and
(3) not more than $58,000 may be used for offi-
cial reception and representation expenses of the Ad-
ministrator of the Commission.
SEC. 3503. PURCHASE OF VEHICLES.
Notwithstanding any other provision of law, the funds
available to the Panama Canal Commission shall be avail-
able for the purchase and transportation to the Republic
of Panama of passenger motor vehicles built in the United
States, the purchase price of which shall not exceed $26,000
per vehicle.
SEC. 3504. OFFICE OF TRANSITION ADMINISTRATION.
(a) EXPENDITURES FROM PANAMA CANAL COMMIS-
SION DISSOLUTION FUND.—Section 1305(c)(5) of the Pan-
ama Canal Act of 1979 (22 U.S.C. 3714a(c)(5)) is amended
462
by inserting ‘‘(A)’’ after ‘‘(5)’’ and by adding at the end
the following:
‘‘(B) The office established by subsection (b) is author-
ized to expend or obligate funds from the Fund for the pur-
poses enumerated in clauses (i) and (ii) of paragraph
(2)(A) until October 1, 2004.’’.
(b) OPERATION OF THE OFFICE OF TRANSITION AD-
MINISTRATION.—
(1) IN GENERAL.—The Panama Canal Act of
1979 (22 U.S.C. 3601 et seq.) shall continue to govern
the Office of Transition Administration until October
1, 2004.
(2) PROCUREMENT.—For purposes of exercising
authority under the procurement laws of the United
States, the director of such office shall have the status
of the head of an agency.
(3) OFFICES.—The Office of Transition Admin-
istration shall have offices in the Republic of Panama
and in the District of Columbia. Section 1110(b)(1)
of the Panama Canal Act of 1973 (22 U.S.C.
3620(b)(1)) does not apply to such office in the Re-
public of Panama.
(4) EFFECTIVE DATE.—This subsection shall be
effective on and after the termination of the Panama
Canal Treaty of 1977.
463
(c) OFFICE
OF TRANSITION ADMINISTRATION DE-
FINED.—In this section the term ‘‘Office of Transition Ad-
ministration’’ means the office established under section
1305 of the Panama Canal Act of 1979 (22 U.S.C. 3714a)
to close out the affairs of the Panama Canal Commission.
Amend the title so as to read: ‘‘A bill to authorize
appropriations for fiscal year 2000 for military activities
of the Department of Defense, for military construction,
and for defense activities of the Department of Energy,
to prescribe personnel strengths for such fiscal year for
the Armed Forces, and for other purposes.’’.