I
103D CONGRESS
2D SESSION
H. R. 4945
To establish the Library of Congress Revolving Fund, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
AUGUST 12, 1994
Mr. ROSE introduced the following bill; which was referred to the Committee
on House Administration
A BILL
To establish the Library of Congress Revolving Fund, and
for other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Library of Congress
Financial Reform Act of 1994’’.
TITLE I—LIBRARY OF CONGRESS
REVOLVING FUND
SEC. 101. AVAILABILITY OF FUND SERVICE ACTIVITIES.
The Librarian of Congress is authorized—
(1) to establish Fund service units to carry out
Fund service activities; and
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(2) to make the library products and services
constituting Fund service activities available for pur-
chase through Fund service units at prices that do
not exceed levels necessary to recover the production
and distribution costs, over a reasonable period of
time, with respect to each Fund service unit.
SEC. 102. FUND SERVICE ACTIVITIES.
The Fund service activities that may be conducted
by Fund service units are—
(1) preparation of research reports, trans-
lations, and analytical studies, for departments and
other entities of the Federal Government;
(2) centralized acquisition of publications, infor-
mation services, and library materials, and training
in library and information services, for departments
and other entities of the Federal Government;
(3) decimal classification development;
(4) gift shop sales of items associated with col-
lections, exhibits, performances, and special events
of the Library of Congress;
(5) document location, copying and delivery
services, and international interlibrary lending;
(6) centralized acquisition for libraries partici-
pating in the Library of Congress overseas pro-
grams; and
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(7) special events and programs, including per-
formances, exhibits, workshops, and meetings.
SEC. 103. LIBRARY OF CONGRESS REVOLVING FUND.
(a) ESTABLISHMENT.—There is established in the
Treasury a fund to be known as the ‘‘Library of Congress
Revolving Fund’’. The Fund shall be available, without fis-
cal year limitation, to the extent provided in appropria-
tions Acts, to the Librarian of Congress for the conduct
of Fund service activities. The Fund shall consist of cap-
ital under subsection (b) and credits under subsection (c).
(b) CAPITAL.—The capital of the Fund shall consist
of—
(1) amounts appropriated by law for that pur-
pose;
(2) upon the transfer of an activity of the Li-
brary of Congress to a Fund service unit, the dif-
ference between (A) the total value of the supplies,
equipment, gift fund balances, and other assets of
the activity, and (B) the total value of the liabilities
(including the value of accrued annual leave of em-
ployees) of the activity; and
(3) payments for goods and services provided
under section 1535 of title 31, United States Code.
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(c) CREDITS.—The Fund shall be credited with all
amounts received by Fund service units with respect to
Fund service activities, including—
(1) fees, advances, and reimbursements;
(2) receipts from sales and exchanges of prop-
erty;
(3) payments for loss or damage to property;
(4) receivables, inventories, and other assets;
(5) amounts appropriated by law; and
(6) income from investments under subsection
(f).
(d) INDIVIDUAL ACCOUNTING REQUIREMENT
FOR
FUND SERVICE UNITS.—The accounts of the Fund, in-
cluding reserve accounts and accounts for research and
development, shall be maintained with respect to individ-
ual Fund service units, without commingling.
(e) INTEREST
ON CERTAIN APPROPRIATED CAP-
ITAL.—Not later than December 31 of each year, the Li-
brarian of Congress shall make an interest payment, with
respect to the preceding fiscal year, on the capital in the
Fund from appropriations under subsection (b)(1) for the
purposes described in paragraphs (3), (4), (6), and (7)
of section 102. The Secretary of the Treasury shall deter-
mine the rate of interest using the average market yield
on outstanding interest bearing obligations of the United