[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 110 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 110

  To amend the Internal Revenue Code of 1986 to provide for economic 
                revitalization, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

Mr. Boehlert introduced the following bill; which was referred jointly 
to the Committees on Ways and Means, Science, Space, and Technology and 
                    Public Works and Transportation

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to provide for economic 
                revitalization, and for other purposes.

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

SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE.

    (a) Short Title.--This Act may be cited as the ``Economic 
Revitalization and Competitiveness Act of 1993''.
    (b) Amendment of 1986 Code.--Except as otherwise expressly 
provided, whenever in this Act an amendment or repeal is expressed in 
terms of an amendment to, or repeal of, a section or other provision, 
the reference shall be considered to be made to a section or other 
provision of the Internal Revenue Code of 1986.

                        TITLE I--TAX INCENTIVES

SEC. 101. REINSTATEMENT OF 5-PERCENT INVESTMENT TAX CREDIT.

    (a) In General.--Subpart E of part IV of subchapter A of chapter 1 
(relating to rules for computing credit for investment in certain 
depreciable property), as amended by subsection (b)(2), is amended by 
adding at the end the following new section:

``SEC. 50. 5-PERCENT REGULAR INVESTMENT CREDIT.

    ``With respect to any property placed in service after December 31, 
1991--
            ``(1) section 49 shall not apply, and
            ``(2) the regular percentage for purposes of this subpart 
        shall be 5 percent.''
    (b) Conforming Amendments.--
            (1) The table of sections for such subpart E is amended by 
        adding at the end the following new item:

                              ``Sec. 50. 5-percent regular investment 
                                        credit.''
            (2) Section 11813 of the Revenue Reconciliation Act of 1990 
        (Public Law 101-508) is hereby repealed, and the Internal 
        Revenue Code of 1986 shall be applied and administered as if 
        such section (and the amendments made by such section) had 
        never been enacted.

SEC. 102. RESEARCH CREDIT MADE PERMANENT.

    (a) In General.--Section 41 (relating to credit for increasing 
research activities) is amended by striking subsection (h).
    (b) Conforming Amendment.--Paragraph (1) section 28(b) is amended 
by striking subparagraph (D).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after June 30, 1992.

SEC. 103. EXCLUSION FOR EDUCATIONAL ASSISTANCE PROGRAMS MADE PERMANENT.

    (a) Exclusion Made Permanent.--Section 127 (relating to educational 
assistance programs) is amended by striking subsection (d).
    (b) Conforming Amendment.--Paragraph (2) of section 103(a) of the 
Tax Extension Act of 1991 is hereby repealed.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1991.

SEC. 104. EXPANSION OF EXCEPTION FROM REBATE FOR SMALL ISSUERS.

    (a) In General.--Subparagraph (C) of section 148(f)(4) (relating to 
exception for governmental units issuing $5,000,000 or less of bonds) 
is amended--
            (1) by striking ``$5,000,000'' each place it appears and 
        inserting ``$25,000,000'',
            (2) by striking ``with general taxing powers'' each place 
        it appears,
            (3) by inserting ``or on behalf of'' after ``issued by'' in 
        subclauses (I) and (IV) of clause (i) and in clause (vi)(I), 
        and
            (4) by striking clause (iv) and redesignating clauses (v) 
        and (vi) thereof as clauses (iv) and (v), respectively.
    (b) Technical Amendment.--Clause (v) of section 148(f)(4)(C), as 
redesignated by subsection (a), is amended by striking ``clause (v)'' 
and inserting ``clause (iv)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to obligations issued in calendar years beginning after the date 
of the enactment of this Act.

SEC. 105. TARGETED JOBS CREDIT.

    (a) In General.--Subsection (c) of section 51 (relating to amount 
of targeted jobs credit) is amended by striking paragraph (4).
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to individuals who begin work for the employer after June 30, 
1992.

SEC. 106. REDUCTION IN CAPITAL GAINS TAX FOR INDIVIDUALS.

    (a) General Rule.--Part I of subchapter P of chapter 1 is amended 
by adding at the end thereof the following new section:

``SEC. 1202. DEDUCTION FOR CAPITAL GAINS.

    ``(a) Deduction Allowed for Capital Gain.--
            ``(1) In general.--If, for any taxable year, a taxpayer 
        other than a corporation has a net capital gain, an amount 
        equal to the sum of the applicable percentages of the 
        applicable capital gain shall be allowed as a deduction.
            ``(2) Estates and trusts.--In the case of an estate or 
        trust, the deduction under paragraph (1) shall be computed by 
        excluding the portion (if any) of the gains for the taxable 
        year from sales or exchanges of capital assets which, under 
        sections 652 and 662 (relating to inclusions of amounts in 
        gross income of beneficiaries of trusts), is includible by the 
        income beneficiaries as gain derived from the sale or exchange 
        of capital assets.
    ``(b) Applicable Percentages.--For purposes of this subsection, the 
applicable percentages shall be the percentages determined in 
accordance with the following table:

  
                                                         The applicable
``In the case of:
                                                         percentage is:
1-year gain..........................................            10    
2-year gain..........................................            20    
3-year gain..........................................           30.    
    ``(c) Gain to Which Deduction Applies.--For purposes of this 
section--
            ``(1) Applicable capital gain.--The term `applicable 
        capital gain' means 1-year gain, 2-year gain, or 3-year gain 
        determined by taking into account only gain which is properly 
        taken into account for periods on or after January 1, 1993.
            ``(2) 3-year gain.--The term `3-year gain' means the lesser 
        of--
                    ``(A) the net capital gain for the taxable year, or
                    ``(B) the long-term capital gain determined by 
                taking into account only gain from the sale or exchange 
                of assets held more than 3 years.
            ``(3) 2-year gain.--The term `2-year gain' means the lesser 
        of--
                    ``(A) the net capital gain for the taxable year, 
                reduced by 3-year gain, or
                    ``(B) the long-term capital gain determined by 
                taking into account only gain from the sale or exchange 
                of assets held more than 2 years but not more than 3 
                years.
            ``(4) 1-year gain.--The term `1-year gain' means the net 
        capital gain for the taxable year determined by taking into 
        account only--
                    ``(A) gain from the sale or exchange of assets held 
                more than 1 year but not more than 2 years, and
                    ``(B) losses from the sale or exchange of assets 
                held more than 1 year.
            ``(5) Special rules for pass-thru entities.--
                    ``(A) In general.--In applying this subsection with 
                respect to any pass-thru entity, the determination of 
                when a sale or exchange has occurred shall be made at 
                the entity level.
                    ``(B) Pass-thru entity defined.--For purposes of 
                subparagraph (A), the term `pass-thru entity' means--
                            ``(i) a regulated investment company,
                            ``(ii) a real estate investment trust,
                            ``(iii) an S corporation,
                            ``(iv) a partnership,
                            ``(v) an estate or trust, and
                            ``(vi) a common trust fund.
            ``(6) Recapture of net ordinary loss under section 1231.--
        For purposes of this subsection, if any amount is treated as 
        ordinary income under section 1231(c) for any taxable year--
                    ``(A) the amount so treated shall be allocated 
                proportionately among the section 1231 gains (as 
                defined in section 1231(a)) for such taxable year, and
                    ``(B) the amount so allocated to any such gain 
                shall reduce the amount of such gain.''
    (b) Treatment of Collectibles.--
            (1) In general.--Section 1222 is amended by inserting after 
        paragraph (11) the following new paragraph:
            ``(12) Special rule for collectibles.--
                    ``(A) In general.--Any gain or loss from the sale 
                or exchange of a collectible shall be treated as a 
                short-term capital gain or loss (as the case may be), 
                without regard to the period such asset was held. The 
                preceding sentence shall apply only to the extent the 
                gain or loss is taken into account in computing taxable 
                income.
                    ``(B) Treatment of certain sales of interest in 
                partnership, etc.--For purposes of subparagraph (A), 
                any gain from the sale or exchange of an interest in a 
                partnership, S corporation, or trust which is 
                attributable to unrealized appreciation in the value of 
                collectibles held by such entity shall be treated as 
                gain from the sale or exchange of a collectible. Rules 
                similar to the rules of section 751(f) shall apply for 
                purposes of the preceding sentence.
                    ``(C) Collectible.--For purposes of this paragraph, 
                the term `collectible' means any capital asset which is 
                a collectible (as defined in section 408(m) without 
                regard to paragraph (3) thereof).''
            (2) Charitable deduction not affected.--
                    (A) Paragraph (1) of section 170(e) is amended by 
                adding at the end thereof the following new sentence: 
                ``For purposes of this paragraph, section 1222 shall be 
                applied without regard to paragraph (12) thereof 
                (relating to special rule for collectibles).''
                    (B) Clause (iv) of section 170(b)(1)(C) is amended 
                by inserting before the period at the end thereof the 
                following: ``and section 1222 shall be applied without 
                regard to paragraph (12) thereof (relating to special 
                rule for collectibles)''.
    (c) Minimum Tax.--Section 56(b) is amended by adding at the end 
thereof the following new paragraph:
            ``(4) Capital gains deduction disallowance.--The deduction 
        under section 1202 shall not be allowed.''
    (d) Conforming Amendments.--
            (1) Subsection (h) of section 1 is hereby repealed.
            (2) Section 12 is amended by striking paragraph (4) and 
        redesignating the following paragraphs accordingly.
            (3) Section 62(a) is amended by inserting after paragraph 
        (14) the following new paragraph:
            ``(15) Capital gains deduction.--The deduction allowed by 
        section 1202.''
            (4) Clause (ii) of section 163(d)(4)(B) is amended by 
        inserting ``, reduced by the amount of any deduction allowable 
        under section 1202 attributable to gain from such property'' 
        after ``investment''.
            (5)(A) Section 170(e)(1)(B) is amended by inserting ``(or, 
        in the case of a taxpayer other than a corporation, the 
        nondeductible percentage of the amount of gain)'' after ``the 
        amount of gain''.
            (B) Section 170(e)(1) is amended by adding at the end 
        thereof the following new sentence: ``For purposes of 
        subparagraph (B), the term `nondeductible percentage' means 100 
        percent minus the applicable percentage with respect to such 
        property under section 1202(b).''
            (6)(A) Section 172(d)(2) (relating to modifications with 
        respect to net operating loss deduction) is amended to read as 
        follows:
            ``(2) Capital gains and losses of taxpayers other than 
        corporations.--In the case of a taxpayer other than a 
        corporation--
                    ``(A) the amount deductible on account of losses 
                from sales or exchanges of capital assets shall not 
                exceed the amount includible on account of gains from 
                sales or exchanges of capital assets; and
                    ``(B) the deduction provided by section 1202 shall 
                not be allowed.''
            (B) Subparagraph (B) of section 172(d)(4) is amended by 
        inserting ``, (2)(B),'' after ``paragraph (1)''.
            (7)(A) Section 220 (relating to cross reference) is amended 
        to read as follows:

``SEC. 220. CROSS REFERENCES.

                                ``(1) For deduction for net capital 
gain, see section 1202.  
                                ``(2) For deductions in respect of a 
decedent, see section 691.''
            (B) The table of sections for part VII of subchapter B of 
        chapter 1 is amended by striking ``reference'' in the item 
        relating to section 220 and inserting ``references''.
            (8) Paragraph (4) of section 642(c) is amended to read as 
        follows:
            ``(4) Adjustments.--To the extent that the amount otherwise 
        allowable as a deduction under this subsection consists of gain 
        from the sale or exchange of capital assets held for more than 
        1 year, proper adjustment shall be made for any deduction 
        allowable to the estate or trust under section 1202 (relating 
        to deduction for net capital gain). In the case of a trust, the 
        deduction allowed by this subsection shall be subject to 
        section 681 (relating to unrelated business income).''
            (9) Paragraph (3) of section 643(a) is amended by adding at 
        the end thereof the following new sentence: ``The deduction 
        under section 1202 (relating to deduction for net capital gain) 
        shall not be taken into account.''
            (10) Paragraph (6)(C) of section 643(a) is amended--
                    (A) by inserting ``(i)'' before ``there'', and
                    (B) by inserting ``, and (ii) the deduction under 
                section 1202 (relating to deduction for excess of 
                capital gains over capital losses)'' before the period 
                at the end thereof.
            (11) Paragraph (4) of section 691(c) is amended by striking 
        ``1(h),''.
            (12) The second sentence of paragraph (2) of section 871(a) 
        is amended by inserting ``such gains and losses shall be 
        determined without regard to section 1202 (relating to 
        deduction for net capital gain) and'' after ``except that''.
            (13)(A) Subparagraph (B) of section 904(b)(2) is amended by 
        striking out so much of such subparagraph as precedes clause 
        (i) and inserting the following:
                    ``(B) Special rules where corporate capital rate 
                gain differential.--In the case of a corporation, for 
                any taxable year for which there is a capital gain rate 
                differential--''.
            (B) Subparagraphs (D) and (E) of section 904(b)(3) are 
        amended to read as follows:
                    ``(D) Capital gain rate differential.--There is a 
                capital gain rate differential for any taxable year if 
                any rate of tax imposed by section 11, 511, or 831(a) 
                or (b) (whichever applies) exceeds the alternative rate 
                of tax under section 1201(a) (determined without regard 
                to the last sentence of section 11(b)(1)).
                    ``(E) Rate differential portion.--The rate 
                differential portion of foreign source net capital 
                gain, net capital, or the excess of net capital gain 
                from sources within the United States over net capital 
                gain, as the case may be, is the same proportion of 
                such amount as--
                            ``(i) the excess of the highest rate of tax 
                        specified in section 11(b)(1) over the 
                        alternative rate of tax under section 1201(a), 
                        bears to
                            ``(ii) the highest rate of tax specified in 
                        section 11(b)(1).''
            (14) Section 1402(i)(1) is amended to read as follows:
            ``(1) In general.--In determining the net earnings from 
        self-employment of any options dealer or commodities dealer--
                    ``(A) notwithstanding subsection (a)(3)(A), there 
                shall not be excluded any gain or loss (in the normal 
                course of the taxpayer's activity of dealing in or 
                trading section 1256 contracts) from section 1256 
                contracts or property related to such contracts, and
                    ``(B) the deduction provided by section 1202 shall 
                not apply.''
    (e) Clerical Amendment.--The table of sections for part I of 
subchapter P of chapter 1 is amended by adding at the end thereof the 
following new item:

                              ``Sec. 1202. Deduction for capital 
                                        gains.''
    (f) Effective Dates.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall apply to taxable years 
        ending after December 31, 1992.
            (2) Treatment of collectibles.--The amendment made by 
        subsection (b) shall apply to taxable years beginning after 
        December 31, 1992.

                   TITLE II--MANUFACTURING TECHNOLOGY

SEC. 201. NATIONWIDE NETWORK OF MANUFACTURING OUTREACH CENTERS.

    The Stevenson-Wydler Technology Innovation Act of 1980 (15 U.S.C. 
3701 et seq.) is amended by adding at the end the following new 
section:

``SEC. 24. NATIONWIDE NETWORK OF MANUFACTURING OUTREACH CENTERS.

    ``(a) Establishment and Purpose of Network.--The Secretary, acting 
through the Under Secretary and the Director, shall establish, 
coordinate, and implement, in accordance with the plans prepared under 
subsections (b) and (e), a program to be known as the Nationwide 
Network of Manufacturing Outreach Centers (in this section referred to 
as the `Network') for the purpose of assisting United States 
manufacturers, especially small- and medium-sized firms, to expand and 
accelerate the use of modern manufacturing practices, and to accelerate 
the development and use of advanced manufacturing technology.
    ``(b) Evaluation and Plan for Support of Existing Centers.--Within 
6 months after the date of enactment of this section, the Secretary, in 
consultation with the Under Secretary, the Director, and the Advisory 
Board, shall submit a report to Congress--
            ``(1) describing how the Technology Administration will 
        carry out its responsibilities under this section, including 
        recommendations for reorganization if necessary;
            ``(2) identifying the Federal, State, and local government 
        agencies and other appropriate organizations, including centers 
        established under section 25 of the National Institute of 
        Standards and Technology Act, Federal, State, and local 
        extension programs, small business development centers, 
        professional societies, industrial associations, and programs 
        of nonprofit organizations, universities, community colleges, 
        technical colleges, and Federal laboratories, engaged in 
        manufacturing or technology extension activities;
            ``(3) evaluating the capabilities, shortcomings, and 
        potential of organizations identified under paragraph (2), to 
        enhance United States manufacturing capabilities;
            ``(4) establishing a plan for Federal programs--
                    ``(A) linking organizations described in paragraph 
                (2), the Technology Administration, and other 
                appropriate Federal agencies;
                    ``(B) providing services and financial aid to those 
                organizations to increase the effectiveness of their 
                manufacturing outreach programs; and
                    ``(C) ensuring synergy among Federal, State, and 
                local organizations involved in the Network;
            ``(5) establishing procedures for the selection of 
        organizations described in paragraph (2) as Manufacturing 
        Outreach Centers;
            ``(6) establishing criteria for providing Federal services 
        and financial aid to Manufacturing Outreach Centers, including 
        recommendations for cost sharing and mechanisms for basing 
        continued support on Center performance; and
            ``(7) evaluating the need for and the benefits of a 
        National Conference of States on Industrial Extension, with 
        representation from all the States, appropriate Federal 
        agencies, business, and other interested parties, in 
        establishing, coordinating, and implementing the policies and 
        programs of the States and the Federal Government, including 
        those established under this section, pertaining to industrial 
        extension activities, and, if the Secretary determines that 
        such a Conference is advisable, developing, in consultation 
        with the States and other interested parties, a plan for the 
        establishment, operation, funding, and evaluation of a National 
        Conference of States on Industrial Extension that is similar in 
        structure to the National Conference on Weights and Measures 
        established by the National Institute of Standards and 
        Technology under section 2 of the National Institute of 
        Standards and Technology Act (15 U.S.C. 272).
In preparing such report, the Secretary shall, to the greatest extent 
practicable, use existing reports and recommendations, including 
recommendations for changes to and expansion of the centers established 
under section 25 of the National Institute of Standards and Technology 
Act (15 U.S.C. 278k) or to the State Technology Extension Programs 
established under section 26 of such Act (15 U.S.C. 278l). Such report 
shall be prepared in consultation with a cross section of industry 
representatives served by and working with the organizations described 
in paragraph (2), and in consultation and coordination with other 
Federal and State agencies involved in technology extension activities.
    ``(c) Communications Infrastructure.--(1) In order to facilitate 
the operations of the Network, the Department of Commerce, after 
consultation with the Advisory Board, shall provide for a 
communications infrastructure consisting of comprehensive computer 
integrated systems--
            ``(A) to facilitate interaction among Manufacturing 
        Outreach Centers; and
            ``(B) to provide for the collection and dissemination in 
        electronic form, in a timely and accurate manner, of 
        information appropriate to the purpose of the Network.
Such infrastructure shall be designed to enable the instantaneously 
interactive exchange of information among the various organizations and 
Federal agencies that are a part of, that support, or that benefit from 
the Network. Such communications infrastructure shall, wherever 
practicable, make use of existing computer networks.
    ``(2) The Secretary shall, within one year after the date of the 
enactment of this section, develop and submit to the Congress a 
management plan for--
            ``(A) the communications infrastructure described in 
        paragraph (1), including user fees and appropriate electronic 
        access for information suppliers and users; and
            ``(B) the clearinghouse system developed under subsection 
        (d).
    ``(d) Clearinghouse.--(1) The Secretary shall develop a 
clearinghouse system, using the National Technical Information Service 
and private sector information providers and carriers where 
appropriate, to--
            ``(A) identify expertise and acquire information, 
        appropriate to the purpose of the Network stated in subsection 
        (a), from all available Federal sources, providing assistance 
        where necessary in making such information electronically 
        available and compatible with the Network;
            ``(B) ensure ready access by United States manufacturers 
        and other interested private sector parties to the most recent 
        relevant available such information and expertise; and
            ``(C) to the extent practicable, inform such manufacturers 
        of the availability of such information.
    ``(2) The clearinghouse shall include information available 
electronically on--
            ``(A) activities of Manufacturing Outreach Centers and the 
        users of the Network;
            ``(B) domestic and international standards from the 
        National Institute of Standards and Technology and private 
        sector organizations and other export promotion information, 
        including conformity assessment requirements and procedures;
            ``(C) the Malcolm Baldrige Quality program, and quality 
        principles and standards;
            ``(D) federally funded technology development and transfer 
        programs;
            ``(E) responsibilities assigned to the Clearinghouse for 
        State and Local Initiatives on Productivity, Technology, and 
        Innovation under section 6 of this Act;
            ``(F) how to access data bases and services; and
            ``(G) other subjects relevant to the ability of companies 
        to manufacture and sell competitive products throughout the 
        world.
    ``(e) 5-Year Plan.--Within 1 year after the date of enactment of 
this section, the Secretary, in consultation with the Under Secretary, 
the Director, and the Advisory Board, shall prepare and submit to the 
Congress a 5-year plan for implementing and expanding the Network. Such 
plan shall identify appropriate methods for expanding the Network in a 
geographically balanced manner, including a merit-based process for the 
selection of additional Manufacturing Outreach Centers. In selecting 
Manufacturing Outreach Centers, and in awarding financial assistance to 
such Centers, the Under Secretary shall ensure that manufacturers using 
the Network are consulted as to the past performance of applicants. 
Such 5-year plan shall include a detailed implementation plan and cost 
estimates and shall take into consideration and build on the report 
submitted under subsection (b).
    ``(f) Principles.--In carrying out this section, the Department of 
Commerce shall take into consideration the following principles:
            ``(1) The Network shall be established and operated through 
        cooperation and co-funding among Federal, State, and local 
        governments, other public and private contributors, and end 
        users.
            ``(2) The Network shall utilize and leverage, to the extent 
        practicable, existing organizations, data bases, electronic 
        networks, facilities, and capabilities.
            ``(3) Local or regional needs should determine the 
        management structure and staffing of the Manufacturing Outreach 
        Centers.
            ``(4) Manufacturing Outreach Centers should have the 
        capability to deliver outreach services directly to 
        manufacturers, actively work with, rather than supplant, the 
        private sector, and to the extent practicable, maximize the 
        exposure of manufacturers to demonstrations of modern 
        technologies in use.
            ``(5) Manufacturing Outreach Centers shall focus, where 
        possible, on the development and deployment of flexible 
        manufacturing practices applicable to both defense and 
        commercial applications.
            ``(6) The Department of Commerce shall develop mechanisms 
        for--
                    ``(A) soliciting the perspectives of manufacturers 
                using the services of the Manufacturing Outreach 
                Centers; and
                    ``(B) evaluating the effectiveness of the 
                Manufacturing Outreach Centers.
    ``(g) Annual Report to Congress.--The Secretary shall annually 
report to the Congress on--
            ``(1) progress made in carrying out this section during the 
        preceding fiscal year;
            ``(2) changes proposed to the 5-year plan;
            ``(3) performance in adhering to schedules; and
            ``(4) any recommendations for legislative changes necessary 
        to enhance the Network.
The report under this subsection submitted at the end of the fourth 
year of operation of the Network shall include recommendations on 
whether to terminate the Network or extend it for a specified period of 
time.
    ``(h) Definitions.--For the purposes of this section, the following 
definitions apply:
            ``(1) Director.--The term `Director' means the Director of 
        the National Institute of Standards and Technology.
            ``(2) Advanced manufacturing technology.--The term 
        `advanced manufacturing technology' includes--
                    ``(A) numerically-controlled machine tools, robots, 
                automated process control equipment, computerized 
                flexible manufacturing systems, associated computer 
                software, and other technology for improving 
                manufacturing and industrial production which advance 
                the state-of-the-art; and
                    ``(B) novel techniques and processes designed to 
                improve manufacturing quality, productivity, and 
                practices, including engineering design, quality 
                assurance, concurrent engineering, continuous process 
                production technology, energy efficiency, waste 
                minimization, inventory management, upgraded worker 
                skills, and communications with customers and 
                suppliers.
            ``(3) Modern technology.--The term `modern technology' 
        means the best available proven technology, techniques, and 
        processes appropriate to enhancing the productivity of 
        manufacturers.
    ``(i) Authorization of Appropriations.--There are authorized to be 
appropriated to the Secretary for carrying out this section 
$120,000,000 for the period encompassing fiscal years 1994 and 1995.''.

       TITLE III--APPROPRIATIONS FROM TRANSPORTATION TRUST FUNDS

SEC. 301. SENSE OF CONGRESS.

    It is the sense of Congress that all amounts authorized to be 
appropriated out of the Highway Trust Fund under the Intermodal Surface 
Transportation Efficiency Act of 1991 (including amendments made by 
such Act) and all amounts authorized to be appropriated out of the 
Airport and Airway Trust Fund under the Airport and Airway Safety, 
Capacity, Noise Improvement, and Intermodal Transportation Act of 1992 
(including amendments made by such Act) should be appropriated.

                                 <all>

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