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the discretion of the Comptroller General or at the direc-
tion of a committee of the Congress. Any such audit shall
be in accordance with generally accepted Government au-
diting standards.
(3) The authority to conduct audits under paragraph
(2) shall apply with respect to fiscal years beginning with
fiscal year 1996.
SEC. 104. DEFINITIONS.
As used in this title—
(1) the term ‘‘Fund’’ means the Library of
Congress Revolving Fund;
(2) the term ‘‘Fund service activities’’ means
the library information products and services de-
scribed in section 102; and
(3) the term ‘‘Fund service unit’’ means an or-
ganizational entity of the Library of Congress that,
at the direction of the Librarian of Congress, is par-
tially or fully sustained through the Fund.
TITLE II—CATALOGING
PRODUCTS AND SERVICES
SEC. 201. AVAILABILITY OF CATALOGING PRODUCTS AND
SERVICES.
(a) IN GENERAL.—The Librarian of Congress is au-
thorized to make cataloging products and services, created
by the Library of Congress, available for purchase at
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prices that do not exceed the distribution costs involved.
The amounts received for such products and services shall
be deposited in the Treasury to the credit of the appro-
priation for salaries and expenses of the Library of Con-
gress, to remain available until expended for necessary dis-
tribution of such products and services.
(b) DEFINITION.—As used in this section, the term
‘‘cataloging products and services’’ means those informa-
tion products and services, in any format now known or
later developed, that are used by libraries and library or-
ganizations, including bibliographic products and services,
other Library-created data bases, and related technical
publications.
SEC. 202. REPEAL.
The paragraph beginning ‘‘The Librarian of Con-
gress’’ under the heading ‘‘PUBLIC PRINTING AND
BINDING’’ in section 1 of the Act entitled ‘‘An Act mak-
ing appropriations for sundry civil expenses of the Govern-
ment for the fiscal year ending June thirtieth, nineteen
hundred and three, and for other purposes’’, approved
June 28, 1902 (2 U.S.C. 150), is repealed.
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TITLE III—RETENTION OF PRO-
CEEDS OF CERTAIN SALES
AND RESTITUTION PAYMENTS
SEC. 301. SALE OF CERTAIN EXCESS PERSONAL PROPERTY.
(a) IN GENERAL.—Subject to subsection (b) and sec-
tion 302, the Librarian of Congress may sell personal
property that is excess to the collections or the exchange
and donation programs of the Library of Congress, pursu-
ant to regulations promulgated by the Administrator of
General Services for the disposal of personal property by
sale, except that the proceeds of sales under this section
shall be deposited in the fund under section 304.
(b) PROHIBITED SALES.—The Librarian may not sell
personal property under subsection (a) if the personal
property is—
(1) received by the Library, as a gift or other-
wise, under a written acceptance or other written
agreement by the Library that prohibits sale by the
Library;
(2) an audio book, braille book, or sound pro-
duction equipment or any other item for the blind or
the physically handicapped under the Act entitled
‘‘An Act to provide books for the adult blind’’, ap-
proved March 3, 1931 (2 U.S.C. 135a and 135b); or
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(3) a product of the Congressional Research
Service, unless the sale is approved by the appro-
priate authority of the Congress.
SEC. 302. SPECIAL PROVISIONS FOR COPYRIGHT DEPOSIT
SALES.
(a) IN GENERAL.—Under section 301, the Librarian
of Congress is authorized to sell a copyright deposit de-
scribed in subsection (c) only if—
(1) the copyright deposit is sold as scrap for re-
cycling, under a written agreement between the Li-
brary and the purchaser that prohibits resale by the
purchaser and use for any purpose other than recy-
cling;
(2) the copyright deposit has been owned by the
Library of Congress for at least 5 years;
(3) there is no reasonable likelihood that the
later resale or commercial use of the copyright de-
posit will materially impair the market value of the
work; or
(4) the term of copyright has expired.
(b) SPECIFIC PROHIBITIONS.—Notwithstanding sub-
section (a), the Librarian may not sell a copyright deposit
described in subsection (c) if—
(1) the work is unpublished at the time of de-
posit;
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(2) the work is subject to a request for reten-
tion under section 704(e) of title 17, United States
Code;
(3) the copyright deposit is subject to section
407(d) of title 17, United States Code, and the joint
order as to disposition has not been issued;
(4) the copyright deposit is made in response to
a written demand under section 407(d) of title 17,
United States Code; or
(5) the copyright deposit is subject to a written
agreement between the Library and the depositor
that prohibits sale by the Library.
(c) COPYRIGHT DEPOSIT DESCRIBED.—A copyright
deposit, as referred to in subsections (a) and (b), is a copy,
phonorecord, or identifying material deposited in the
Copyright Office under section 407 or 408 of title 17,
United States Code.
SEC. 303. ACCEPTANCE OF RESTITUTION PAYMENTS.
The Librarian of Congress is authorized to accept,
for deposit in the fund under section 304, payments for
lost, stolen, damaged, or destroyed books and other mate-
rials from the collections of the Library, if such payments
are—
(1) ordered by a judicial or administrative au-
thority; or
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(2) received from a borrower or other Library
user.
SEC. 304. FUND FOR RETENTION OF PROCEEDS OF CER-
TAIN SALES AND RESTITUTION PAYMENTS.
There is established in the Treasury a fund consisting
of the proceeds from sales under sections 301 and 302
and payments received under section 303. Amounts in the
fund shall be available to the Librarian of Congress, to
the extent provided in appropriations Acts, to remain
available until expended, for the acquisition of books and
other materials for the collections of the Library, including
the costs of administering the national and international
acquisition programs of the Library.
TITLE IV—AMENDMENTS RELAT-
ING TO THE LIBRARY OF CON-
GRESS TRUST FUND BOARD
SEC. 401. ADDITIONAL MEMBER ON THE LIBRARY OF CON-
GRESS TRUST FUND BOARD.
The first sentence of the first paragraph of the first
section of the Act entitled ‘‘An Act to create a Library
of Congress Trust Fund Board, and for other purposes’’,
approved March 3, 1925 (2 U.S.C. 154), is amended by
inserting after ‘‘chairman’’ the following: ‘‘and the vice
chairman’’.
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SEC. 402. CEILING INCREASE FOR PERMANENT LOAN AC-
COUNT DEPOSITS.
The proviso in the third undesignated paragraph of
section 2 of the Act entitled ‘‘An Act to create a Library
of Congress Trust Fund Board, and for other purposes’’,
approved March 3, 1925 (2 U.S.C. 158), is amended by
striking out ‘‘$10,000,000’’ and inserting in lieu thereof
‘‘$30,000,000’’.
SEC. 403. CLARIFICATION OF INVESTMENT AUTHORITY.
Section 2 of the Act entitled ‘‘An Act to create a Li-
brary of Congress Trust Fund Board, and for other pur-
poses’’, approved March 3, 1925, is amended—
(1) in the third undesignated paragraph (2
U.S.C. 158), by inserting after ‘‘subject to’’ the fol-
lowing: ‘‘subsequent’’; and
(2) in the second sentence of the fourth undes-
ignated paragraph (2 U.S.C. 158a), by inserting
after ‘‘retained’’ the following: ‘‘by the Librarian’’.
SEC. 404. AUTHORITY TO TRANSFER GIFT FUNDS TO THE
BOARD.
Section 4 of the Act entitled ‘‘An Act to create a Li-
brary of Congress Trust Fund Board, and for other pur-
poses’’, approved March 3, 1925 (2 U.S.C. 160), is
amended by adding at the end the following new undesig-
nated paragraph:
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Congress and the arbitrator. Subject to the provisions of
section 802(c), payments to the arbitrators shall be con-
sidered costs incurred by the Library and the Copyright
Office for purposes of section 802(h)(1).’’.
SEC. 503. NONAPPLICABILITY OF LIMITATIONS ON POSI-
TIONS.
Section 802(h)(2) of title 17, United States Code, is
amended by striking out ‘‘Section 307’’ and inserting in
lieu thereof ‘‘Sections 306(b) and 307’’.
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