[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 41 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                 H. R. 41

     To authorize the President to seek the recoupment of defense 
 expenditures abroad and to authorize the use of expenditures recouped 
                   for domestic investment projects.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

Mr. Gejdenson introduced the following bill; which was referred jointly 
    to the Committees on Armed Services, Banking, Finance and Urban 
  Affairs, Education and Labor, Foreign Affairs, Energy and Commerce, 
Natural Resources, Public Works and Transportation, and Science, Space, 
                             and Technology

_______________________________________________________________________

                                 A BILL


 
     To authorize the President to seek the recoupment of defense 
 expenditures abroad and to authorize the use of expenditures recouped 
                   for domestic investment projects.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Invest in America Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) The fall of the Berlin Wall and the subsequent demise 
        of the Soviet Union have radically reduced the threat of 
        invasion of western Europe and severely undermined the 
        rationale for a massive United States military presence in 
        Europe.
            (2) United States taxpayers financed the substantial costs 
        of the Cold War and deserve to reap the economic benefits of 
        its peaceful conclusion.
            (3) United States expenditures in support of the defense of 
        Europe can safely be reduced and invested instead in the United 
        States industrial base to ensure future economic 
        competitiveness, growth, and prosperity.

SEC. 3. RECOUPMENT OF DEFENSE EXPENDITURES ABROAD.

    (a) Agreements to Recoup Defense Costs.--The President should 
endeavor to enter into an agreement with each European member nation of 
the North Atlantic Treaty Organization in which members of the Armed 
Forces of the United States are stationed to provide for the payment by 
such nation of at least one-half of the cost of maintaining the Armed 
Forces of the United States in such nation, including the cost of 
compensating members of the Armed Forces stationed in such nation. An 
agreement under this subsection may provide for the payment by such 
nation to be made in the form of money or real or personal property.
    (b) Authority to Accept Payments.--The Secretary of Defense may 
accept any payment of money or real or personal property made pursuant 
to any agreement described in subsection (a).
    (c) Deposit in Defense Cooperation Account.--Money accepted by the 
Secretary of Defense under subsection (b), and proceeds from the sale 
of any property so accepted by the Secretary of Defense, shall be 
credited to the Defense Cooperation Account established by section 2608 
of title 10, United States Code, and may be used in accordance with 
that section.

SEC. 4. ESTABLISHMENT OF INVEST IN AMERICA FUND.

    There is established in the Treasury of the United States a fund to 
be known as the ``Invest in America Fund''.

SEC. 5. TRANSFER OF FUNDS FROM DEPARTMENT OF DEFENSE TO THE INVEST IN 
              AMERICA FUND.

    (a) Transfer of Recouped Defense Costs.--The Secretary of the 
Treasury, in consultation with the Comptroller of the Department of 
Defense, shall provide for the quarterly transfer of funds from the 
Department of Defense to the Invest in America Fund in an amount equal 
to the amount of deposits credited to the Defense Cooperation Account 
during that quarter pursuant to agreements described in section 3(a).
    (b) Transfer of Overseas Bases Operating Funds.--The Secretary of 
the Treasury, in consultation with the Comptroller of the Department of 
Defense, shall provide for the transfer to the Invest in America Fund 
of appropriated funds for operation and maintenance of United States 
military installations in Europe which are unneeded for expenditure on 
account of an agreement described in section 3(a).

SEC. 6. AUTHORIZATION FOR EXPENDITURE OF AMOUNTS IN INVEST IN AMERICA 
              FUND.

    Funds in the Invest in America Fund at the end of a quarter are 
authorized to be appropriated according to the following formula:
            (1) 50 percent for general purpose fiscal assistance.
            (2) 7 percent for solar and renewable energy research and 
        development.
            (3) 2 percent energy conservation programs.
            (4) 4 percent for pollution control and abatement.
            (5) 2 percent for historic preservation.
            (6) 5 percent for Maglev and high speed rail development.
            (7) 14 percent for urban mass transit.
            (8) 4 percent for community development block grants.
            (9) 4 percent for job training programs.
            (10) 4 percent for export enhancement programs.
            (11) 4 percent for economic development grants.

SEC. 7. EXPEDITED CONSIDERATION FOR HIGH UNEMPLOYMENT AREAS.

    Administrative agencies shall formulate regulations to expedite 
consideration of grant applications for programs receiving increased 
appropriations pursuant to this Act in the case of any State, county, 
or local government--
            (1) experiencing a level of unemployment greater than the 
        national average; or
            (2) which has been determined to be substantially and 
        seriously affected, as defined by section 4003(5) of the 
        Defense Economic Adjustment, Diversification, Conversion, and 
        Stabilization Act of 1990, due to--
                    (A) realignment or closure of a military 
                installation or defense facility; or
                    (B) cancellation or curtailment of a major defense 
                contract.

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