[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4594 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4594

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 16, 1994

  Mr. Wise (for himself and Mr. Petri) introduced the following bill; 
         which was referred to the Committee on Foreign Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Japan-United States Friendship Act 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. 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. 2. 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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