[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3139 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3139

  To amend the Japan-United States Friendship Act to recapitalize the 
    Friendship Trust Fund, to broaden investment authority, and to 
     strengthen criteria for membership on the Japan-United States 
                         Friendship Commission.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 27, 1993

   Mr. Wise introduced the following bill; which was referred to the 
                      Committee on Foreign Affairs

_______________________________________________________________________

                                 A BILL


 
  To amend the Japan-United States Friendship Act to recapitalize the 
    Friendship Trust Fund, to broaden investment authority, and to 
     strengthen criteria for membership on the Japan-United States 
                         Friendship Commission.

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

SECTION 1. RECAPITALIZING THE FRIENDSHIP TRUST FUND.

    (a) Authorization of Appropriations.--Section 3 of the Japan-United 
States Friendship Act (22 U.S.C. 2902) is amended--
            (1) by adding at the end the following new subsection:
    ``(f)(1) There are authorized to be appropriated to the Fund 
$10,000,000, plus any amount described in paragraph (2), for each of 
the fiscal years 1994 through 1998.
    ``(2) Any unappropriated portion of the amount authorized to be 
appropriated by paragraph (1) may be appropriated in any subsequent 
fiscal year.''.
    (b) Conforming Amendments.--Section 7 of the Japan-United States 
Friendship Act (22 U.S.C. 2906) is amended--
            (1) in subsection (a)(1), by striking ``sections 3 (d) and 
        (e)(1) of this Act'' and inserting ``subsections (d), (e)(1), 
        and (f) of section 3''; and
            (2) in subsection (b), by striking in the second sentence 
        ``section 3(d) of this Act'' and inserting ``subsections (d) 
        and (f) of section 3''.

SEC. 2. UNITED STATES PANEL OF THE JOINT COMMITTEE ON UNITED STATES-
              JAPAN CULTURAL AND EDUCATIONAL COOPERATION.

    Section 4 of the Japan-United States Friendship Act (22 U.S.C. 
2903) is amended by adding at the end the following new subsection:
    ``(d) The membership of the United States Panel of the Joint 
Committee on United States-Japan Cultural and Educational Cooperation 
shall be drawn from among individuals who are deeply familiar with 
Japan and United States-Japan relations, as demonstrated in their 
professional careers, and who have performed distinguished service in--
            ``(1) law, business, or finances;
            ``(2) education, training, or research at postsecondary 
        levels;
            ``(3) the media or publishing;
            ``(4) foundation or philanthropic activity;
            ``(5) the American arts, culture, or the humanities; or
            ``(6) other aspects of American public life.''.

SEC. 3. BROADENING INVESTMENT AUTHORITY.

    Section 7 of the Japan-United States Friendship Act (22 U.S.C. 
2906) is amended--
            (1) in subsection (b)--
                    (A) in the first sentence, by inserting ``, at the 
                direction of the Chairman of the Commission,'' after 
                ```Secretary')''; and
                    (B) in the second sentence, by striking ``in 
                interest bearing obligations of the United States or in 
                obligations guaranteed as to both principal and 
                interest by the United States'' and inserting ``in 
                instruments of public debt with maturities suitable to 
                the needs of the Fund''; and
            (2) in subsection (c), by inserting ``, at the direction of 
        the Chairman of the Commission,'' after ``sold''.

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