Text: H.R.2870 — 105th Congress (1997-1998)All Information (Except Text)

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Public Law No: 105-214 (07/29/1998)

 
[105th Congress Public Law 214]
[From the U.S. Government Printing Office]


<DOC>
[DOCID: f:publ214.105]


[[Page 112 STAT. 885]]

Public Law 105-214
105th Congress

                                 An Act


 
To amend the Foreign Assistance Act of 1961 to facilitate protection of 
 tropical forests through debt reduction with developing countries with 
        tropical forests. <<NOTE: July 29, 1998 -  [H.R. 2870]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. DEBT REDUCTION FOR DEVELOPING COUNTRIES WITH TROPICAL 
            FORESTS.

    The Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.) is 
amended by adding at the end the following:

       ``PART V--DEBT <<NOTE: Tropical Forest Conservation Act of 
1998.>> REDUCTION FOR DEVELOPING COUNTRIES WITH TROPICAL FORESTS

``SEC. <<NOTE: 22 USC 2151 note.>> 801. SHORT TITLE.

    ``This part may be cited as the `Tropical Forest Conservation Act of 
1998'.

``SEC. <<NOTE: 22 USC 2431.>> 802. FINDINGS AND PURPOSES.

    ``(a) Findings.--The Congress finds the following:
            ``(1) It is the established policy of the United States to 
        support and seek protection of tropical forests around the 
        world.
            ``(2) Tropical forests provide a wide range of benefits to 
        humankind by--
                    ``(A) harboring a major share of the Earth's 
                biological and terrestrial resources, which are the 
                basis for developing pharmaceutical products and 
                revitalizing agricultural crops;
                    ``(B) playing a critical role as carbon sinks in 
                reducing greenhouse gases in the atmosphere, thus 
                moderating potential global climate change; and
                    ``(C) regulating hydrological cycles on which far-
                flung agricultural and coastal resources depend.
            ``(3) International negotiations and assistance programs to 
        conserve forest resources have proliferated over the past 
        decade, but the rapid rate of tropical deforestation continues 
        unabated.
            ``(4) Developing countries with urgent needs for investment 
        and capital for development have allocated a significant amount 
        of their forests to logging concessions.
            ``(5) Poverty and economic pressures on the populations of 
        developing countries have, over time, resulted in clearing of 
        vast areas of forest for conversion to agriculture, which is 
        often unsustainable in the poor soils underlying tropical 
        forests.

[[Page 112 STAT. 886]]

            ``(6) Debt reduction can reduce economic pressures on 
        developing countries and result in increased protection for 
        tropical forests.
            ``(7) Finding economic benefits to local communities from 
        sustainable uses of tropical forests is critical to the 
        protection of tropical forests.

    ``(b) Purposes.--The purposes of this part are--
            ``(1) to recognize the values received by United States 
        citizens from protection of tropical forests;
            ``(2) to facilitate greater protection of tropical forests 
        (and to give priority to protecting tropical forests with the 
        highest levels of biodiversity and under the most severe threat) 
        by providing for the alleviation of debt in countries where 
        tropical forests are located, thus allowing the use of 
        additional resources to protect these critical resources and 
        reduce economic pressures that have led to deforestation;
            ``(3) to ensure that resources freed from debt in such 
        countries are targeted to protection of tropical forests and 
        their associated values; and
            ``(4) to rechannel existing resources to facilitate the 
        protection of tropical forests.

``SEC. <<NOTE: 22 USC 2431a.>> 803. DEFINITIONS.

    ``As used in this part:
            ``(1) Administering body.--The term `administering body' 
        means the entity provided for in section 809(c).
            ``(2) Appropriate congressional committees.--The term 
        `appropriate congressional committees' means--
                    ``(A) the Committee on International Relations and 
                the Committee on Appropriations of the House of 
                Representatives; and
                    ``(B) the Committee on Foreign Relations and the 
                Committee on Appropriations of the Senate.
            ``(3) Beneficiary country.--The term `beneficiary country' 
        means an eligible country with respect to which the authority of 
        section 806(a)(1), section 807(a)(1), or paragraph (1) or (2) of 
        section 808(a) is exercised.
            ``(4) Board.--The term `Board' means the board referred to 
        in section 811.
            ``(5) Developing country with a tropical forest.--The term 
        `developing country with a tropical forest' means--
                    ``(A)(i) a country that has a per capita income of 
                $725 or less in 1994 United States dollars (commonly 
                referred to as `low-income country'), as determined and 
                adjusted on an annual basis by the International Bank 
                for Reconstruction and Development in its World 
                Development Report; or
                    ``(ii) a country that has a per capita income of 
                more than $725 but less than $8,956 in 1994 United 
                States dollars (commonly referred to as `middle-income 
                country'), as determined and adjusted on an annual basis 
                by the International Bank for Reconstruction and 
                Development in its World Development Report; and
                    ``(B) a country that contains at least one tropical 
                forest that is globally outstanding in terms of its 
                biological diversity or represents one of the larger 
                intact blocks of tropical forests left, on a regional, 
                continental, or global scale.

[[Page 112 STAT. 887]]

            ``(6) Eligible country.--The term `eligible country' means a 
        country designated by the President in accordance with 
        section 805.
            ``(7) Tropical forest agreement.--The term `Tropical 
        Forest Agreement' or `Agreement' means a Tropical Forest 
        Agreement provided for in section 809.
            ``(8) Tropical forest facility.--The term `Tropical Forest 
        Facility' or `Facility' means the Tropical Forest Facility 
        established in the Department of the Treasury by section 804.
            ``(9) Tropical forest fund.--The term `Tropical Forest Fund' 
        or `Fund' means a Tropical Forest Fund provided for in section 
        810.

``SEC. <<NOTE: 22 USC 2431b.>> 804. ESTABLISHMENT OF THE FACILITY.

    ``There is established in the Department of the Treasury an entity 
to be known as the `Tropical Forest Facility' for the purpose of 
providing for the administration of debt reduction in accordance with 
this part.

``SEC. <<NOTE: 22 USC 2431c.>> 805. ELIGIBILITY FOR BENEFITS.

    ``(a) In General.--To be eligible for benefits from the Facility 
under this part, a country shall be a developing country with a tropical 
forest--
            ``(1) whose government meets the requirements applicable to 
        Latin American or Caribbean countries under paragraphs (1) 
        through (5) and (7) of section 703(a) of this Act; and
            ``(2) that has put in place major investment reforms, as 
        evidenced by the conclusion of a bilateral investment treaty 
        with the United States, implementation of an investment sector 
        loan with the Inter-American Development Bank, World 
        Bank-supported investment reforms, or other measures, as 
        appropriate.

    ``(b) Eligibility <<NOTE: President.>> Determinations.--
            ``(1) In general.--Consistent with subsection (a), the 
        President shall determine whether a country is eligible to 
        receive benefits under this part.
            ``(2) Congressional notification.--The President shall 
        notify the appropriate congressional committees of his intention 
        to designate a country as an eligible country at least 15 days 
        in advance of any formal determination.

``SEC. 806. <<NOTE: 22 USC 2431d.>> REDUCTION OF DEBT OWED TO THE UNITED 
            STATES AS A RESULT OF CONCESSIONAL LOANS UNDER THE 
            FOREIGN ASSISTANCE ACT OF 1961.

    ``(a) Authority To Reduce Debt.--
            ``(1) Authority.--The President may reduce the amount owed 
        to the United States (or any agency of the United States) that 
        is outstanding as of January 1, 1998, as a result of 
        concessional loans made to an eligible country by the United 
        States under part I of this Act, chapter 4 of part II of this 
        Act, or predecessor foreign economic assistance legislation.
            ``(2) Authorization of appropriations.--For the cost (as 
        defined in section 502(5) of the Federal Credit Reform Act of 
        1990) for the reduction of any debt pursuant to this section, 
        there are authorized to be appropriated to the President--
                    ``(A) $25,000,000 for fiscal year 1999;
                    ``(B) $75,000,000 for fiscal year 2000; and
                    ``(C) $100,000,000 for fiscal year 2001.

[[Page 112 STAT. 888]]

            ``(3) Certain prohibitions inapplicable.--
                    ``(A) In general.--A reduction of debt pursuant to 
                this section shall not be considered assistance for 
                purposes of any provision of law limiting assistance to 
                a country.
                    ``(B) Additional requirement.--The authority of this 
                section may be exercised notwithstanding section 620(r) 
                of this Act or section 321 of the International 
                Development and Food Assistance Act of 1975.

    ``(b) Implementation of Debt Reduction.--
            ``(1) In general.--Any debt reduction pursuant to subsection 
        (a) shall be accomplished at the direction of the Facility by 
        the exchange of a new obligation for obligations of the type 
        referred to in subsection (a) outstanding as of the date 
        specified in subsection (a)(1).
            ``(2) Exchange of obligations.--
                    ``(A) In <<NOTE: Notification.>> general.--The 
                Facility shall notify the agency primarily responsible 
                for administering part I of this Act of an agreement 
                entered into under paragraph (1) with an eligible 
                country to exchange a new obligation for outstanding 
                obligations.
                    ``(B) Additional requirement.--At the direction of 
                the Facility, the old obligations that are the subject 
                of the agreement shall be canceled and a new debt 
                obligation for the country shall be established relating 
                to the agreement, and the agency primarily responsible 
                for administering part I of this Act shall make an 
                adjustment in its accounts to reflect the debt 
                reduction.

    ``(c) Additional <<NOTE: Applicability.>> Terms and Conditions.--The 
following 
additional terms and conditions shall apply to the reduction of debt 
under subsection (a)(1) in the same manner as such terms and conditions 
apply to the reduction of debt under section 704(a)(1) of this Act:
            ``(1) The provisions relating to repayment of principal 
        under section 705 of this Act.
            ``(2) The provisions relating to interest on new obligations 
        under section 706 of this Act.

``SEC. 807. <<NOTE: 22 USC 2431e.>> REDUCTION OF DEBT OWED TO THE UNITED 
            STATES AS A RESULT OF CREDITS EXTENDED UNDER TITLE I OF THE 
            AGRICULTURAL TRADE DEVELOPMENT AND ASSISTANCE ACT OF 1954.

    ``(a) Authority To Reduce Debt.--
            ``(1) Authority.--Notwithstanding any other provision of 
        law, the President may reduce the amount owed to the United 
        States (or any agency of the United States) that is outstanding 
        as of January 1, 1998, as a result of any credits extended under 
        title I of the Agricultural Trade Development and Assistance Act 
        of 1954 (7 U.S.C. 1701 et seq.) to a country eligible for 
        benefits from the Facility.
            ``(2) Authorization of appropriations.--
                    ``(A) In general.--For the cost (as defined in 
                section 502(5) of the Federal Credit Reform Act of 1990) 
                for the reduction of any debt pursuant to this section, 
                there are authorized to be appropriated to the 
                President--
                          ``(i) $25,000,000 for fiscal year 1999;
                          ``(ii) $50,000,000 for fiscal year 2000; and
                          ``(iii) $50,000,000 for fiscal year 2001.

[[Page 112 STAT. 889]]

                    ``(B) Limitation.--The authority provided by this 
                section shall be available only to the extent that 
                appropriations for the cost (as defined in section 
                502(5) of the Federal Credit Reform Act of 1990) of the 
                modification of any debt pursuant to this section are 
                made in advance.

    ``(b) Implementation of Debt Reduction.--
            ``(1) In general.--Any debt reduction pursuant to subsection 
        (a) shall be accomplished at the direction of the Facility by 
        the exchange of a new obligation for obligations of the type 
        referred to in subsection (a) outstanding as of the date 
        specified in subsection (a)(1).
            ``(2) Exchange <<NOTE: Notification.>> of obligations.--
                    ``(A) In general.--The Facility shall notify the 
                Commodity Credit Corporation of an agreement entered 
                into under paragraph (1) with an eligible country to 
                exchange a new obligation for outstanding obligations.
                    ``(B) Additional requirement.--At the direction of 
                the Facility, the old obligations that are the subject 
                of the agreement shall be canceled and a new debt 
                obligation shall be established for the country relating 
                to the agreement, and the Commodity Credit Corporation 
                shall make an adjustment in its accounts to reflect the 
                debt reduction.

    ``(c) Additional <<NOTE: Applicability.>> Terms and Conditions.--The 
following 
additional terms and conditions shall apply to the reduction of debt 
under subsection (a)(1) in the same manner as such terms and conditions 
apply to the reduction of debt under section 604(a)(1) of the 
Agricultural Trade Development and Assistance Act of 1954 (7 U.S.C. 
1738c):
            ``(1) The provisions relating to repayment of principal 
        under section 605 of such Act.
            ``(2) The provisions relating to interest on new obligations 
        under section 606 of such Act.

``SEC. 808. <<NOTE: 22 USC 2431f.>> AUTHORITY TO ENGAGE IN DEBT-FOR-
            NATURE SWAPS AND DEBT BUYBACKS.

    ``(a) Loans and Credits Eligible for Sale, Reduction, or 
Cancellation.--
            ``(1) Debt-for-nature swaps.--
                    ``(A) In general.--Notwithstanding any other 
                provision of law, the President may, in accordance with 
                this section, sell to any eligible purchaser described 
                in subparagraph (B) any concessional loans described in 
                section 806(a)(1) or any credits described in section 
                807(a)(1), or on receipt of payment from an eligible 
                purchaser described in subparagraph (B), reduce or 
                cancel such loans (or credits) or portion thereof, only 
                for the purpose of facilitating a debt-for-nature swap 
                to support eligible activities described in section 
                809(d).
                    ``(B) Eligible purchaser described.--A loan or 
                credit may be sold, reduced, or canceled under 
                subparagraph (A) only to a purchaser who presents plans 
                satisfactory to the President for using the loan or 
                credit for the purpose of engaging in debt-for-nature 
                swaps to support eligible activities described in 
                section 809(d).
                    ``(C) 
                Consultation <<NOTE: President.>> requirement.--Before 
                the sale under subparagraph (A) to any eligible 
                purchaser described in subparagraph (B), or any 
                reduction or cancellation under

[[Page 112 STAT. 890]]

                such subparagraph (A), of any loan or credit made to an 
                eligible country, the President shall consult with the 
                country concerning the amount of loans or credits to be 
                sold, reduced, or canceled and their uses for debt-for-
                nature swaps to support eligible activities described in 
                section 809(d).
                    ``(D) Authorization of appropriations.--For the cost 
                (as defined in section 502(5) of the Federal Credit 
                Reform Act of 1990) for the reduction of any debt 
                pursuant to subparagraph (A), amounts authorized to 
                appropriated under sections 806(a)(2) and 807(a)(2) 
                shall be made available for such reduction of debt 
                pursuant to subparagraph (A).
            ``(2) Debt buybacks.--Notwithstanding any other provision of 
        law, the President may, in accordance with this section, sell to 
        any eligible country any concessional loans described in section 
        806(a)(1) or any credits described in section 807(a)(1), or on 
        receipt of payment from an eligible country, reduce or cancel 
        such loans (or credits) or portion thereof, only for the purpose 
        of facilitating a debt buyback by an eligible country of its own 
        qualified debt, only if the eligible country uses an additional 
        amount of the local currency of the eligible country, equal to 
        not less than the lessor of 40 percent of the price paid for 
        such debt by such eligible country, or the difference between 
        the price paid for such debt and the face value of such debt, to 
        support eligible activities described in section 809(d).
            ``(3) Limitation.--The authority provided by paragraphs (1) 
        and (2) shall be available only to the extent that 
        appropriations for the cost (as defined in section 502(5) of the 
        Federal Credit Reform Act of 1990) of the modification of any 
        debt pursuant to such paragraphs are made in advance.
            ``(4) Terms <<NOTE: President.>> and conditions.--
        Notwithstanding any other provision of law, the President shall, 
        in accordance with this section, establish the terms and 
        conditions under which loans and credits may be sold, reduced, 
        or canceled pursuant to this section.
            ``(5) Administration.-- <<NOTE: Notification.>> 
                    ``(A) In general.--The Facility shall notify the 
                administrator of the agency primarily responsible for 
                administering part I of this Act or the Commodity Credit 
                Corporation, as the case may be, of eligible purchasers 
                described in paragraph (1)(B) that the President has 
                determined to be eligible under paragraph (1), and shall 
                direct such agency or Corporation, as the case may be, 
                to carry out the sale, reduction, or cancellation of a 
                loan pursuant to such paragraph.
                    ``(B) Additional requirement.--Such agency or 
                Corporation, as the case may be, shall make an 
                adjustment in its accounts to reflect the sale, 
                reduction, or cancellation.

    ``(b) Deposit of Proceeds.--The proceeds from the sale, reduction, 
or cancellation of any loan sold, reduced, or canceled pursuant to this 
section shall be deposited in the United States Government account or 
accounts established for the repayment of such loan.

``SEC. <<NOTE: 22 USC 2431g.>> 809. TROPICAL FOREST AGREEMENT.

    ``(a) Authority.--

[[Page 112 STAT. 891]]

            ``(1) In general.--The Secretary of State is authorized, in 
        consultation with other appropriate officials of the Federal 
        Government, to enter into a Tropical Forest Agreement with any 
        eligible country concerning the operation and use of the Fund 
        for that country.
            ``(2) Consultation.--In the negotiation of such an 
        Agreement, the Secretary shall consult with the Board in 
        accordance with section 811.

    ``(b) Contents of Agreement.--The requirements contained in section 
708(b) of this Act (relating to contents of an agreement) shall apply to 
an Agreement in the same manner as such requirements apply to an 
Americas Framework Agreement.
    ``(c) Administering Body.--
            ``(1) In general.--Amounts disbursed from the Fund in each 
        beneficiary country shall be administered by a body 
        constituted under the laws of that country.
            ``(2) Composition.--
                    ``(A) In general.--The administering body shall 
                consist of--
                          ``(i) one or more individuals appointed by the 
                      United States Government;
                          ``(ii) one or more individuals appointed by 
                      the government of the beneficiary country; and
                          ``(iii) individuals who represent a broad 
                      range of--
                                    ``(I) environmental nongovernmental 
                                organizations of, or active in, the 
                                beneficiary country;
                                    ``(II) local community development 
                                nongovernmental organizations of the 
                                beneficiary country; and
                                    ``(III) scientific, academic, or 
                                forestry organizations of the 
                                beneficiary country.
                    ``(B) Additional requirement.--A majority of the 
                members of the administering body shall be individuals 
                described in subparagraph (A)(iii).
            ``(3) Responsibilities.--The requirements contained in 
        section 708(c)(3) of this Act (relating to responsibilities of 
        the administering body) shall apply to an administering body 
        described in paragraph (1) in the same manner as such 
        requirements apply to an administering body described in section 
        708(c)(1) of this Act.

    ``(d) Eligible Activities.--Amounts deposited in a Fund shall be 
used only to provide grants to conserve, maintain, and restore the 
tropical forests in the beneficiary country, through one or more of the 
following activities:
            ``(1) Establishment, restoration, protection, and 
        maintenance of parks, protected areas, and reserves.
            ``(2) Development and implementation of scientifically sound 
        systems of natural resource management, including land and 
        ecosystem management practices.
            ``(3) Training programs to increase the scientific, 
        technical, and managerial capacities of individuals and 
        organizations involved in conservation efforts.
            ``(4) Restoration, protection, or sustainable use of diverse 
        animal and plant species.
            ``(5) Research and identification of medicinal uses of 
        tropical forest plant life to treat human diseases, illnesses, 
        and health related concerns.

[[Page 112 STAT. 892]]

            ``(6) Development and support of the livelihoods of 
        individuals living in or near a tropical forest in a manner 
        consistent with protecting such tropical forest.

    ``(e) Grant Recipients.--
            ``(1) In general.--Grants made from a Fund shall be 
        made to--
                    ``(A) nongovernmental environmental, forestry, 
                conservation, and indigenous peoples organizations of, 
                or active in, the beneficiary country;
                    ``(B) other appropriate local or regional entities 
                of, or active in, the beneficiary country; or
                    ``(C) in exceptional circumstances, the government 
                of the beneficiary country.
            ``(2) Priority.--In providing grants under paragraph (1), 
        priority shall be given to projects that are run by 
        nongovernmental organizations and other private entities and 
        that involve local communities in their planning and execution.

    ``(f) Review of Larger Grants.--Any grant of more than $100,000 from 
a Fund shall be subject to veto by the Government of the United States 
or the government of the beneficiary country.
    ``(g) Eligibility Criteria.--In the event that a country ceases to 
meet the eligibility requirements set forth in section 805(a), as 
determined by the President pursuant to section 805(b), then grants from 
the Fund for that country may only be made to nongovernmental 
organizations until such time as the President determines that such 
country meets the eligibility requirements set forth in section 805(a).

``SEC. <<NOTE: 22 USC 2431h.>> 810. TROPICAL FOREST FUND.

    ``(a) Establishment.--Each beneficiary country that enters into a 
Tropical Forest Agreement under section 809 shall be required to 
establish a Tropical Forest Fund to receive payments of interest on new 
obligations undertaken by the beneficiary country under this part.
    ``(b) Requirements Relating to Operation of Fund.--The following 
terms and conditions shall apply to the Fund in the same manner as such 
terms as conditions apply to an Enterprise for the Americas Fund under 
section 707 of this Act:
            ``(1) The provision relating to deposits under subsection 
        (b) of such section.
            ``(2) The provision relating to investments under subsection 
        (c) of such section.
            ``(3) The provision relating to disbursements under 
        subsection (d) of such section.

``SEC. <<NOTE: 22 USC 2431i.>> 811. BOARD.

    ``(a) Enterprise for the Americas Board.--The Enterprise for the 
Americas Board established under section 610(a) of the Agricultural 
Trade Development and Assistance Act of 1954 (7 U.S.C. 1738i(a)) shall, 
in addition to carrying out the responsibilities of the Board under 
section 610(c) of such Act, carry out the duties described in subsection 
(c) of this section for the purposes of this part.
    ``(b) Additional <<NOTE: President.>> Membership.--
            ``(1) In general.--The Enterprise for the Americas Board 
        shall be composed of an additional four members appointed by the 
        President as follows:

[[Page 112 STAT. 893]]

                    ``(A) Two representatives from the United States 
                Government, including a representative of the 
                International Forestry Division of the United States 
                Forest 
                Service.
                    ``(B) Two representatives from private 
                nongovernmental environmental, scientific, forestry, or 
                academic organizations with experience and expertise in 
                preservation, maintenance, sustainable uses, and 
                restoration of tropical forests.
            ``(2) Chairperson.--Notwithstanding section 610(b)(2) of the 
        Agricultural Trade Development and Assistance Act of 1954 (7 
        U.S.C. 1738i(b)(2)), the Enterprise for the Americas Board shall 
        be headed by a chairperson who shall be appointed by the 
        President from among the representatives appointed under section 
        610(b)(1)(A) of such Act or paragraph (1)(A) of this subsection.

    ``(c) Duties.--The duties described in this subsection are as 
follows:
            ``(1) Advise the Secretary of State on the negotiations of 
        Tropical Forest Agreements.
            ``(2) Ensure, in consultation with--
                    ``(A) the government of the beneficiary country;
                    ``(B) nongovernmental organizations of the 
                beneficiary country;
                    ``(C) nongovernmental organizations of the region 
                (if appropriate);
                    ``(D) environmental, scientific, forestry, and 
                academic leaders of the beneficiary country; and
                    ``(E) environmental, scientific, forestry, and 
                academic leaders of the region (as appropriate),
        that a suitable administering body is identified for each Fund.
            ``(3) Review the programs, operations, and fiscal audits of 
        each administering body.

``SEC. <<NOTE: President. 22 USC 2431j.>> 812. CONSULTATIONS WITH THE 
            CONGRESS.

    ``The President shall consult with the appropriate congressional 
committees on a periodic basis to review the operation of the Facility 
under this part and the eligibility of countries for benefits from the 
Facility under this part.

``SEC. 813. ANNUAL REPORTS TO <<NOTE: 22 USC 2431k.>> THE CONGRESS.

    ``(a) In General.--Not later <<NOTE: Deadline. President.>> than 
December 31 of each year, the President shall prepare and transmit to 
the Congress an annual report concerning the operation of the Facility 
for the prior fiscal year. Such report shall include--
            ``(1) a description of the activities undertaken by the 
        Facility during the previous fiscal year;
            ``(2) a description of any Agreement entered into under this 
        part;
            ``(3) a report on any Funds that have been established under 
        this part and on the operations of such Funds; and
            ``(4) a description of any grants that have been provided by 
        administering bodies pursuant to Agreements under this part.

[[Page 112 STAT. 894]]

    ``(b) Supplemental <<NOTE: Deadline.>> Views in Annual Report.--Not 
later than December 15 of each year, each member of the Board shall be 
entitled to receive a copy of the report required under subsection (a). 
Each member of the Board may prepare and submit supplemental views to 
the President on the implementation of this part by December 31 for 
inclusion in the annual report when it is transmitted to Congress 
pursuant to this section.''.

    Approved July 29, 1998.

LEGISLATIVE HISTORY--H.R. 2870 (S. 1758):
---------------------------------------------------------------------------

HOUSE REPORTS: No. 105-443 (Comm. on International Relations).
SENATE REPORTS: No. 105-219 accompanying S. 1758 (Comm. on Foreign 
Relations).
CONGRESSIONAL RECORD, Vol. 144 (1998):
            Mar. 19, considered and passed House.
            July 14, considered and passed Senate, amended.
            July 15, House concurred in Senate amendment.

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