S.1621 - An original bill to revise certain authorities relating to Pershing Hall, France.103rd Congress (1993-1994)
|Sponsor:||Sen. Rockefeller, John D., IV [D-WV] (Introduced 11/04/1993)|
|Committees:||Senate - Veterans' Affairs | House - Veterans' Affairs|
|Latest Action:||House - 11/15/1993 Referred to the House Committee on Veterans' Affairs. (All Actions)|
This bill has the status Passed Senate
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Text: S.1621 — 103rd Congress (1993-1994)All Information (Except Text)
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Referred in House (11/15/1993)
[Congressional Bills 103th Congress] [From the U.S. Government Printing Office] [S. 1621 Referred in House (RFH)] 103d CONGRESS 1st Session S. 1621 _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES November 15, 1993 Referred to the Committee on Veterans' Affairs _______________________________________________________________________ AN ACT To revise certain authorities relating to Pershing Hall, France. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. REVISION OF AUTHORITY RELATING TO PERSHING HALL, FRANCE. (a) Increase in Transfer Authority.--Subsection (d)(2) of section 403 of the Veterans' Benefits Programs Improvement Act of 1991 (36 U.S.C. 493(d)(2)) is amended by striking out ``$1,000,000'' and inserting in lieu thereof ``$1,250,000''. (b) Disposal Authority.--Such section is further amended-- (1) by redesignating subsection (e) as subsection (f); and (2) by inserting after subsection (d) the following new subsection (e): ``(e) Disposal Authority.--(1) Subject to paragraph (2), the Secretary of Veterans Affairs may sell or otherwise dispose of all right, title, and interest of the United States in and to Pershing Hall. ``(2) The Secretary may not sell or otherwise dispose of Pershing Hall under this subsection unless the Secretary determines that-- ``(A) the sale or other disposal is in the best interests of the United States; and ``(B) the consideration to be paid for such sale or other disposal is acceptable. ``(3)(A) Except as provided in subparagraph (B), the Secretary shall deposit in the general fund of the Treasury of the United States an amount equal to the amount of any cash consideration paid to the United States for the sale or other disposal of Pershing Hall under this subsection. ``(B) The Secretary may utilize an amount not to exceed $250,000 of such cash consideration to recoup the cost of administrative expenses incurred by the Secretary with respect to the sale or other disposal of Pershing Hall.''. (c) Closing of Revolving Fund Upon Disposal of Pershing Hall.-- Subsection (d) of such section is amended by adding at the end the following new paragraph (7): ``(7) Upon sale or other disposal of all right, title, and interest of the United States in and to Pershing Hall under subsection (e), the Secretary shall-- ``(A) pay out of funds in or proceeds from the sale or redemption of interest-bearing obligations credited to the Revolving Fund all outstanding liabilities of the Revolving Fund, including any unpaid expenses of the Revolving Fund and reimbursements of any funds transferred to the Revolving Fund under paragraph (2); ``(B) transfer any funds that remain in the Revolving Fund after the payment of the liabilities described in subparagraph (A) into the general fund of the Treasury of the United States; and ``(C) close the Revolving Fund.''. Passed the Senate November 11 (legislative day, November 2), 1993. Attest: WALTER J. STEWART, Secretary.