[Pages S2337-S2340]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

[[Page S2337]]
AMENDMENTS SUBMITTED

______

EDUCATION FLEXIBILITY PARTNERSHIP ACT OF 1999

______

BINGAMAN (AND OTHERS) AMENDMENT NO. 35

Mr. BINGAMAN (for himself, Mr. Reid, Mr. Levin, and Mr. Bryan)
proposed an amendment to amendment No. 31 proposed by Mr. Jeffords to
the bill (S. 280) to provide for education flexibility partnerships; as
follows:

At the end, add the following:
TITLE ____--DROPOUT PREVENTION AND STATE RESPONSIBILITIES

SEC. ____01. SHORT TITLE.

This title may be cited as the ``National Dropout
Prevention Act of 1999''.
Subtitle A--Dropout Prevention

SEC. ____11. DROPOUT PREVENTION.

Part C of title V of the Elementary and Secondary Education
Act of 1965 (20 U.S.C. 7261 et seq.) is amended to read as
follows:

``PART C--ASSISTANCE TO ADDRESS SCHOOL DROPOUT PROBLEMS

``Subpart 1--Coordinated National Strategy

``SEC. 5311. NATIONAL ACTIVITIES.

``(a) National Priority.--It shall be a national priority,
for the 5-year period beginning on the date of enactment of
the National Dropout Prevention Act of 1999, to lower the
school dropout rate, and increase school completion, for
middle school and secondary school students in accordance
with Federal law. As part of this priority, all Federal
agencies that carry out activities that serve students at
risk of dropping out of school or that are intended to help
address the school dropout problem shall make school dropout
prevention a top priority in the agencies' funding priorities
during the 5-year period.
``(b) Enhanced Data Collection.--The Secretary shall
collect systematic data on the participation of different
racial and ethnic groups (including migrant and limited
English proficient students) in all Federal programs.

``SEC. 5312. NATIONAL SCHOOL DROPOUT PREVENTION STRATEGY.

``(a) Plan.--The Director shall develop, implement, and
monitor an interagency plan (in this section referred to as
the ``plan'') to assess the coordination, use of resources,
and availability of funding under Federal law that can be
used to address school dropout prevention, or middle school
or secondary school reentry. The plan shall be completed and
transmitted to the Secretary and Congress not later than 180
days after the first Director is appointed.
``(b) Coordination.--The plan shall address inter- and
intra-agency program coordination issues at the Federal level
with respect to school dropout prevention and middle school
and secondary school reentry, assess the targeting of
existing Federal services to students who are most at risk of
dropping out of school, and the cost-effectiveness of various
programs and approaches used to address school dropout
prevention.
``(c) Available Resources.--The plan shall also describe
the ways in which State and local agencies can implement
effective school dropout prevention programs using funds from
a variety of Federal programs, including the programs under
title I of the Elementary and Secondary Education Act of 1965
(20 U.S.C. 6301 et seq.) and the School-to-Work Opportunities
Act of 1994 (20 U.S.C. 6101 et seq.).
``(d) Scope.--The plan will address all Federal programs
with school dropout prevention or school reentry elements or
objectives, programs under chapter 1 of subpart 2 of part A
of title IV of the Higher Education Act of 1965 (20 U.S.C.
1070a-11 et seq.), title I of the Elementary and Secondary
Education Act of 1965 (20 U.S.C. 6301 et seq.), the School-
to-Work Opportunities Act of 1994 (20 U.S.C. 6101 et seq.),
part B of title IV of the Job Training Partnership Act (29
U.S.C. 1691 et seq.), subtitle C of title I of the Workforce
Investment Act of 1998 (29 U.S.C 2881 et seq.), and other
programs.

``SEC. 5313. NATIONAL CLEARINGHOUSE.

``Not later than 6 months after the date of enactment of
the National Dropout Prevention Act of 1999, the Director
shall establish a national clearinghouse on effective school
dropout prevention, intervention and reentry programs. The
clearinghouse shall be established through a competitive
grant or contract awarded to an organization with a
demonstrated capacity to provide technical assistance and
disseminate information in the area of school dropout
prevention, intervention, and reentry programs. The
clearinghouse shall--
``(1) collect and disseminate to educators, parents, and
policymakers information on research, effective programs,
best practices, and available Federal resources with respect
to school dropout prevention, intervention, and reentry
programs, including dissemination by an electronically
accessible database, a worldwide Web site, and a national
journal; and
``(2) provide technical assistance regarding securing
resources with respect to, and designing and implementing,
effective and comprehensive school dropout prevention,
intervention, and reentry programs.

``SEC. 5314. NATIONAL RECOGNITION PROGRAM.

``(a) In General.--The Director shall carry out a national
recognition program that recognizes schools that have made
extraordinary progress in lowering school dropout rates under
which a public middle school or secondary school from each
State will be recognized. The Director shall use uniform
national guidelines that are developed by the Director for
the recognition program and shall recognize schools from
nominations submitted by State educational agencies.
``(b) Eligible Schools.--The Director may recognize any
public middle school or secondary school (including a charter
school) that has implemented comprehensive reforms regarding
the lowering of school dropout rates for all students at that
school.
``(c) Support.--The Director may make monetary awards to
schools recognized under this section, in amounts determined
by the Director. Amounts received under this section shall be
used for dissemination activities within the school district
or nationally.

``Subpart 2--National School Dropout Prevention Initiative

``SEC. 5321. FINDINGS.

``Congress finds that, in order to lower dropout rates and
raise academic achievement levels, improved and redesigned
schools must--
``(1) challenge all children to attain their highest
academic potential; and
``(2) ensure that all students have substantial and ongoing
opportunities to--
``(A) achieve high levels of academic and technical skills;
``(B) prepare for college and careers;
``(C) learn by doing;
``(D) work with teachers in small schools within schools;
``(E) receive ongoing support from adult mentors;
``(F) access a wide variety of information about careers
and postsecondary education and training;
``(G) use technology to enhance and motivate learning; and
``(H) benefit from strong links among middle schools,
secondary schools, and postsecondary institutions.

``SEC. 5322. PROGRAM AUTHORIZED.

``(a) Allotments to States.--
``(1) In general.--From the sum made available under
section 5332(b) for a fiscal year the Secretary shall make an
allotment to each State in an amount that bears the same
relation to the sum as the amount the State received under
title I of the Elementary and Secondary Education Act of 1965
(20 U.S.C. 6301 et seq.) for the preceding fiscal year bears
to the amount received by all States under such title for the
preceding fiscal year.
``(2) Definition of state.--In this subpart, the term
``State'' means each of the several States of the United
States, the District of Columbia, the Commonwealth of Puerto
Rico, the United States Virgin Islands, Guam, American Samoa,
the Commonwealth of the Northern Mariana Islands, the
Republic of the Marshall Islands, the Federated States of
Micronesia, and the Republic of Palau.
``(b) Grants.--From amounts made available to a State under
subsection (a), the State educational agency may award grants
to public middle schools or secondary schools, that have
school dropout rates which are in the highest \1/3\ of all
school dropout rates in the State, to enable the schools to
pay only the startup and implementation costs of effective,
sustainable, coordinated, and whole school dropout prevention
programs that involve activities such as--
``(1) professional development;
``(2) obtaining curricular materials;
``(3) release time for professional staff;
``(4) planning and research;
``(5) remedial education;
``(6) reduction in pupil-to-teacher ratios;
``(7) efforts to meet State student achievement standards;
and
``(8) counseling for at-risk students.
``(b) Intent of Congress.--It is the intent of Congress
that the activities started or implemented under subsection
(a) shall be continued with funding provided under part A of
title I of the Elementary and Secondary Education Act of 1965
(20 U.S.C. 6311 et seq.).
``(c) Amount.--
``(1) In general.--Subject to subsection (d) and except as
provided in paragraph (2), a grant under this subpart shall
be awarded--
``(A) in the first year that a school receives a grant
payment under this subpart, in an amount that is not less
than $50,000 and not more than $100,000, based on factors
such as--
``(i) school size;
``(ii) costs of the model being implemented; and
``(iii) local cost factors such as poverty rates;
``(B) in the second such year, in an amount that is not
less than 75 percent of the amount the school received under
this subpart in the first such year;
``(C) in the third year, in an amount that is not less than
50 percent of the amount the school received under this
subpart in the first such year; and
``(D) in each succeeding year in an amount that is not less
than 30 percent of the amount the school received under this
subpart in the first such year.
``(2) Increases.--The Director shall increase the amount
awarded to a school under this subpart by 10 percent if the
school creates smaller learning communities within the school
and the creation is certified by the State educational
agency.

[[Page S2338]]

``(d) Duration.--A grant under this subpart shall be
awarded for a period of 3 years, and may be continued for a
period of 2 additional years if the State educational agency
determines, based on the annual reports described in section
5328(a), that significant progress has been made in lowering
the school dropout rate for students participating in the
program assisted under this subpart compared to students at
similar schools who are not participating in the program.

``SEC. 5323. STRATEGIES AND ALLOWABLE MODELS.

``(a) Strategies.--Each school receiving a grant under this
subpart shall implement research-based, sustainable, and
widely replicated, strategies for school dropout prevention
and reentry that address the needs of an entire school
population rather than a subset of students. The strategies
may include--
``(1) specific strategies for targeted purposes; and
``(2) approaches such as breaking larger schools down into
smaller learning communities and other comprehensive reform
approaches, developing clear linkages to career skills and
employment, and addressing specific gatekeeper hurdles that
often limit student retention and academic success.
``(b) Allowable Models.--The Director shall annually
establish and publish in the Federal Register the principles,
criteria, models, and other parameters regarding the types of
effective, proven program models that are allowed to be used
under this subpart, based on existing research.
``(c) Capacity Building.--
``(1) In general.--The Director, through a contract with a
non-Federal entity, shall conduct a capacity building and
design initiative in order to increase the types of proven
strategies for dropout prevention on a schoolwide level.
``(2) Number and duration.--
``(A) Number.--The Director shall award not more than 5
contracts under this subsection.
``(B) Duration.--The Director shall award a contract under
this section for a period of not more than 5 years.
``(d) Support for Existing Reform Networks.--
``(1) In general.--The Director shall provide appropriate
support to eligible entities to enable the eligible entities
to provide training, materials, development, and staff
assistance to schools assisted under this subpart.
``(2) Definition of eligible entity.--The term `eligible
entity' means an entity that, prior to the date of enactment
of the National Dropout Prevention Act of 1999--
``(A) provided training, technical assistance, and
materials to 100 or more elementary schools or secondary
schools; and
``(B) developed and published a specific educational
program or design for use by the schools.

``SEC. 5324. SELECTION OF SCHOOLS.

``(a) School Application.--
``(1) In general.--Each school desiring a grant under this
subpart shall submit an application to the State educational
agency at such time, in such manner, and accompanied by such
information as the State educational agency may require.
``(2) Contents.--Each application submitted under paragraph
(1) shall--
``(A) contain a certification from the local educational
agency serving the school that--
``(i) the school has the highest number or rates of school
dropouts in the age group served by the local educational
agency;
``(ii) the local educational agency is committed to
providing ongoing operational support, for the school's
comprehensive reform plan to address the problem of school
dropouts, for a period of 5 years; and
``(iii) the local educational agency will support the plan,
including--

``(I) release time for teacher training;
``(II) efforts to coordinate activities for feeder schools;
and
``(III) encouraging other schools served by the local
educational agency to participate in the plan;

``(B) demonstrate that the faculty and administration of
the school have agreed to apply for assistance under this
subpart, and provide evidence of the school's willingness and
ability to use the funds under this subpart, including
providing an assurance of the support of 80 percent or more
of the professional staff at the school;
``(C) describe the instructional strategies to be
implemented, how the strategies will serve all students, and
the effectiveness of the strategies;
``(D) describe a budget and timeline for implementing the
strategies;
``(E) contain evidence of interaction with an eligible
entity described in section 5323(d)(2);
``(F) contain evidence of coordination with existing
resources;
``(G) provide an assurance that funds provided under this
subpart will supplement and not supplant other Federal,
State, and local funds;
``(H) describe how the activities to be assisted conform
with an allowable model described in section 5323(b); and
``(I) demonstrate that the school and local educational
agency have agreed to conduct a schoolwide program under
1114.
``(b) State Agency Review and Award.--The State educational
agency shall review applications and award grants to schools
under subsection (a) according to a review by a panel of
experts on school dropout prevention.
``(c) Criteria.--The Director shall establish clear and
specific selection criteria for awarding grants to schools
under this subpart. Such criteria shall be based on school
dropout rates and other relevant factors for State
educational agencies to use in determining the number of
grants to award and the type of schools to be awarded grants.
``(d) Eligibility.--
``(1) In general.--A school is eligible to receive a grant
under this subpart if the school is--
``(A) a public school--
``(i) that is eligible to receive assistance under part A
of title I of the Elementary and Secondary Education Act of
1965 (20 U.S.C. 6311 et seq.), including a comprehensive
secondary school, a vocational or technical secondary school,
and a charter school; and
``(ii)(I) that serves students 50 percent or more of whom
are low-income individuals; or
``(II) with respect to which the feeder schools that
provide the majority of the incoming students to the school
serve students 50 percent or more of whom are low-income
individuals; or
``(B) is participating in a schoolwide program under
section 1114 during the grant period.
``(2) Other schools.--A private or parochial school, an
alternative school, or a school within a school, is not
eligible to receive a grant under this subpart, but an
alternative school or school within a school may be served
under this subpart as part of a whole school reform effort
within an entire school building.
``(e) Community-Based Organizations.--A school that
receives a grant under this subpart may use the grant funds
to secure necessary services from a community-based
organization, including private sector entities, if--
``(1) the school approves the use;
``(2) the funds are used to provide school dropout
prevention and reentry activities related to schoolwide
efforts; and
``(3) the community-based organization has demonstrated the
organization's ability to provide effective services as
described in section 107(a) of the Job Training Partnership
Act (29 U.S.C. 1517(a)), or section 122 of the Workforce
Investment Act of 1998 (29 U.S.C. 2842).
``(f) Coordination.--Each school that receives a grant
under this subpart shall coordinate the activities assisted
under this subpart with other Federal programs, such as
programs assisted under chapter 1 of subpart 2 of part A of
title IV of the Higher Education Act of 1965 (20 U.S.C.
1070a-11 et seq.) and the School-to-Work Opportunities Act of
1994 (20 U.S.C. 6101 et seq.).

``SEC. 5325. DISSEMINATION ACTIVITIES.

``Each school that receives a grant under this subpart
shall provide information and technical assistance to other
schools within the school district, including presentations,
document-sharing, and joint staff development.

``SEC. 5326. PROGRESS INCENTIVES.

``Notwithstanding any other provision of law, each local
educational agency that receives funds under title I of the
Elementary and Secondary Education Act of 1965 (20 U.S.C.
6301 et seq.) shall use such funding to provide assistance to
schools served by the agency that have not made progress
toward lowering school dropout rates after receiving
assistance under this subpart for 2 fiscal years.

``SEC. 5327. SCHOOL DROPOUT RATE CALCULATION.

``For purposes of calculating a school dropout rate under
this subpart, a school shall use--
``(1) the annual event school dropout rate for students
leaving a school in a single year determined in accordance
with the National Center for Education Statistics' Common
Core of Data, if available; or
``(2) in other cases, a standard method for calculating the
school dropout rate as determined by the State educational
agency.

``SEC. 5328. REPORTING AND ACCOUNTABILITY.

``(a) Reporting.--In order to receive funding under this
subpart for a fiscal year after the first fiscal year a
school receives funding under this subpart, the school shall
provide, on an annual basis, to the Director a report
regarding the status of the implementation of activities
funded under this subpart, the disaggregated outcome data for
students at schools assisted under this subpart such as
dropout rates, and certification of progress from the
eligible entity whose strategies the school is implementing.
``(b) Accountability.--On the basis of the reports
submitted under subsection (a), the Director shall evaluate
the effect of the activities assisted under this subpart on
school dropout prevention compared to a control group.

``SEC. 5329. PROHIBITION ON TRACKING.

``(a) In General.--A school shall be ineligible to receive
funding under this subpart for a fiscal year, if the school--
``(1) has in place a general education track;
``(2) provides courses with significantly different
material and requirements to students at the same grade
level; or
``(3) fails to encourage all students to take a core
curriculum of courses.
``(b) Regulations.--The Secretary shall promulgate
regulations implementing subsection (a).

``Subpart 3--Definitions; Authorization of Appropriations

``SEC. 5331. DEFINITIONS.

``In this Act:

[[Page S2339]]

``(1) Director.--The term ``Director'' means the Director
of the Office of Dropout Prevention and Program Completion
established under section 220 of the General Education
Provisions Act.
``(2) Low-income.--The term ``low-income'', used with
respect to an individual, means an individual determined to
be low-income in accordance with measures described in
section 1113(a)(5) of the Elementary and Secondary Education
Act of 1965 (20 U.S.C. 6313(a)(5)).
``(3) School dropout.--The term ``school dropout'' has the
meaning given the term in section 4(17) of the School-to-Work
Opportunities Act of 1994 (20 U.S.C. 6103(17)).

``SEC. 5332. AUTHORIZATION OF APPROPRIATIONS.

``(a) Subpart 1.--There are authorized to be appropriated
to carry out subpart 1, $5,000,000 for fiscal year 2000 and
such sums as may be necessary for each of the 4 succeeding
fiscal years.
``(b) Subpart 2.--There are authorized to be appropriated
to carry out subpart 2, $145,000,000 for fiscal year 2000 and
such sums as may be necessary for each of the 4 succeeding
fiscal years, of which--
``(1) $125,000,000 shall be available to carry out section
5322; and
``(2) $20,000,000 shall be available to carry out section
5323.''.

SEC. ____12. OFFICE OF DROPOUT PREVENTION AND PROGRAM
COMPLETION.

Title II of the Department of Education Organization Act
(20 U.S.C. 3411) is amended--
(1) by redesignating section 216 (as added by Public Law
103-227) as section 218; and
(2) by adding at the end the following:

``office of dropout prevention and program completion

``Sec. 220. (a) Establishment.--There shall be in the
Department of Education an Office of Dropout Prevention and
Program Completion (hereafter in this section referred to as
the `Office'), to be administered by the Director of the
Office of Dropout Prevention and Program Completion. The
Director of the Office shall report directly to the Secretary
and shall perform such additional functions as the Secretary
may prescribe.
``(b) Duties.--The Director of the Office of Dropout
Prevention and Program Completion (hereafter in this section
referred to as the `Director'), through the Office, shall--
``(1) help coordinate Federal, State, and local efforts to
lower school dropout rates and increase program completion by
middle school, secondary school, and college students;
``(2) recommend Federal policies, objectives, and
priorities to lower school dropout rates and increase program
completion;
``(3) oversee the implementation of subpart 2 of part C of
title V of the Elementary and Secondary Education Act of
1965;
``(4) develop and implement the National School Dropout
Prevention Strategy under section 5312 of the Elementary and
Secondary Education Act of 1965;
``(5) annually prepare and submit to Congress and the
Secretary a national report describing efforts and
recommended actions regarding school dropout prevention and
program completion;
``(6) recommend action to the Secretary and the President,
as appropriate, regarding school dropout prevention and
program completion; and
``(7) consult with and assist State and local governments
regarding school dropout prevention and program completion.
``(c) Scope of Duties.--The scope of the Director's duties
under subsection (b) shall include examination of all Federal
and non-Federal efforts related to--
``(1) promoting program completion for children attending
middle school or secondary school;
``(2) programs to obtain a secondary school diploma or its
recognized equivalent (including general equivalency diploma
(GED) programs), or college degree programs; and
``(3) reentry programs for individuals aged 12 to 24 who
are out of school.
``(d) Detailing.--In carrying out the Director's duties
under this section, the Director may request the head of any
Federal department or agency to detail personnel who are
engaged in school dropout prevention activities to another
Federal department or agency in order to implement the
National School Dropout Prevention Strategy.''.
Subtitle B--State Responsibilities

SEC. ____21. STATE RESPONSIBILITIES.

Title XIV of the Elementary and Secondary Education Act of
1965 (20 U.S.C. 8801 et seq.) is amended by adding at the end
the following:

``PART I--DROPOUT PREVENTION

``SEC. 14851. DROPOUT PREVENTION.

``In order to receive any assistance under this Act, a
State educational agency shall comply with the following
provisions regarding school dropouts:
``(1) Uniform data collection.--Within 1 year after the
date of enactment of the National Dropout Prevention Act of
1999, a State educational agency shall report to the
Secretary and statewide, all school district and school data
regarding school dropout rates in the State, and demographic
breakdowns, according to procedures that conform with the
National Center for Education Statistics' Common Core of
Data.
``(2) Attendance-neutral funding policies.--Within 2 years
after the date of enactment of the National Dropout
Prevention Act of 1999, a State educational agency shall
develop and implement education funding formula policies for
public schools that provide appropriate incentives to retain
students in school throughout the school year, such as--
``(A) a student count methodology that does not determine
annual budgets based on attendance on a single day early in
the academic year; and
``(B) specific incentives for retaining enrolled students
throughout each year.
``(3) Suspension and expulsion policies.--Within 2 years
after the date of enactment of the National Dropout
Prevention Act of 1998, a State educational agency shall
develop uniform, long-term suspension and expulsion policies
for serious infractions resulting in more than 10 days of
exclusion from school per academic year so that similar
violations result in similar penalties.''.
______

JEFFORDS (AND OTHERS) AMENDMENT NO. 36

Mr. JEFFORDS (for himself, Mr. Gregg, and Ms. Collins) proposed an
amendment to amendment No. 35 proposed by Mr. Bingaman to the bill,
supra; as follows:

On page 20, between lines 4 and 5, insert the following:

``SEC. . FUNDING FOR IDEA.

``Nothwithstanding any other provision of law, the
provisions of this part, other than this section, shall have
no effect, except that funds appropriated pursuant to the
authority of this part shall be used to carry out part B of
the Individuals with Disabilities Education Act (20 U.S.C.
1411 et seq.).
______

JEFFORDS (AND OTHERS) AMENDMENT NO. 37

Mr. LOTT (for Mr. Jeffords for himself, Mr. Gregg, and Ms. Collins)
proposed an amendment to amendment No. 35 proposed by Mr. Bingaman to
the bill, supra; as follows:

In lieu of the matter proposed to be inserted, insert the
following:

SEC. . AUTHORIZATION OF APPROPRIATIONS.

In addition to other funds authorized to be appropriated to
carry out part B of the Individuals with Disabilities
Education Act (20 U.S.C. 1411 et seq.), there are authorized
to be appropriated $150,000,000 to carry out such part.
______

JEFFORDS AMENDMENT NO. 38

Mr. JEFFORDS proposed an amendment to amendment No. 31 proposed by
him to the bill, supra; as follows:

In the language proposed to be stricken by amendment No.
31, at the appropriate place insert the following:

SEC. . PUBLIC NOTICE AND COMMENT.

The Secretary of Education shall prescribe requirements on
how States will provide for public comments and notice.
______

ALLARD AMENDMENT NO. 39

(Ordered to lie on the table.)
Mr. ALLARD submitted an amendment intended to be proposed by him to
the bill, S. 280, supra; as follows:

At the appropriate place, insert the following:

SEC. . `KNOW YOUR CUSTOMER' REGULATIONS RESCINDED

(a) In General.--None of the following proposed regulations
may be published in final form and, to the extent that any
such regulation has become effective before the date of the
date of the enactment of this legislation, such regulation
shall cease to be effective as of such date:
(1) The regulation proposed by the Comptroller of the
Currency to amend part 21 of title 12 of the Code of Federal
Regulations, as published in the Federal Register on December
7, 1998.
(2) The regulation proposed by the Director of the Office
of Thrift Supervision to amend part 563 of title 12 of the
Code of Federal Regulations, as published in the Federal
Register on December 7, 1998.
(3) The regulation proposed by the Board of Governors of
the Federal Reserve System to amend parts 208, 211, and 225
of title 12 of the Code of Federal Regulation, as published
in the Federal Register on December 7, 1998.
(4) The regulation proposed by the Federal Deposit
Insurance Corporation to amend part 326 of title 12 of the
Code of Federal Regulations as published in the Federal
Register on December 7, 1998.
(b) Prohibition on Similar Regulations.--None of the
Federal Banking Agencies referred to in subsection (a) may
prescribe any regulation which is substantially similar to,
or would have substantially the same effect as, any proposed
regulation described in paragraph (1), (2), (3), or (4) of
subsection (a).
______

ALLARD AMENDMENT NO. 40

(Ordered to lie on the table.)
Mr. ALLARD submitted an amendment intended to be proposed by him to
amendment No. 31 proposed by Mr. Jeffords to the bill, supra; as
follows:

In the language proposed to be stricken, insert the
following:

[[Page S2340]]

SEC. . `KNOW YOUR CUSTOMER' REGULATIONS RESCINDED

(a) In General.--None of the following proposed regulations
may be published in final form and, to the extent that any
such regulation has become effective before the date of the
date of the enactment of this legislation, such regulation
shall cease to be effective as of such date:
(1) The regulation proposed by the Comptroller of the
Currency to amend part 21 of title 12 of the Code of Federal
Regulations, as published in the Federal Register on December
7, 1998.
(2) The regulation proposed by the Director of the Office
of Thrift Supervision to amend part 563 of title 12 of the
Code of Federal Regulations, as published in the Federal
Register on December 7, 1998.
(3) The regulation proposed by the Board of Governors of
the Federal Reserve System to amend parts 208, 211, and 225
of title 12 of the Code of Federal Regulation, as published
in the Federal Register on December 7, 1998.
(4) The regulation proposed by the Federal Deposit
Insurance Corporation to amend part 326 title 12 of the Code
of Federal Regulations as published in the Federal Register
on December 7, 1998.
(b) Prohibition on Similar Regulations.--None of the
Federal Banking Agencies referred to in subsection (a) may
prescribe any regulation which is substantially similar to,
or would have substantially the same effect as, any proposed
regulation described in paragraph (1), (2), (3), or (4) of
subsection (a).

____________________