[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1621 Engrossed in Senate (ES)]

103d CONGRESS

  1st Session

                                S. 1621

_______________________________________________________________________

                                 AN ACT

    To revise certain authorities relating to Pershing Hall, France.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
103d CONGRESS
  1st Session
                                S. 1621

_______________________________________________________________________

                                 AN ACT


 
    To revise certain authorities relating to Pershing Hall, France.

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

SECTION 1. REVISION OF AUTHORITY RELATING TO PERSHING HALL, FRANCE.

    (a) Increase in Transfer Authority.--Subsection (d)(2) of section 
403 of the Veterans' Benefits Programs Improvement Act of 1991 (36 
U.S.C. 493(d)(2)) is amended by striking out ``$1,000,000'' and 
inserting in lieu thereof ``$1,250,000''.
    (b) Disposal Authority.--Such section is further amended--
            (1) by redesignating subsection (e) as subsection (f); and
            (2) by inserting after subsection (d) the following new 
        subsection (e):
    ``(e) Disposal Authority.--(1) Subject to paragraph (2), the 
Secretary of Veterans Affairs may sell or otherwise dispose of all 
right, title, and interest of the United States in and to Pershing 
Hall.
    ``(2) The Secretary may not sell or otherwise dispose of Pershing 
Hall under this subsection unless the Secretary determines that--
            ``(A) the sale or other disposal is in the best interests 
        of the United States; and
            ``(B) the consideration to be paid for such sale or other 
        disposal is acceptable.
    ``(3)(A) Except as provided in subparagraph (B), the Secretary 
shall deposit in the general fund of the Treasury of the United States 
an amount equal to the amount of any cash consideration paid to the 
United States for the sale or other disposal of Pershing Hall under 
this subsection.
    ``(B) The Secretary may utilize an amount not to exceed $250,000 of 
such cash consideration to recoup the cost of administrative expenses 
incurred by the Secretary with respect to the sale or other disposal of 
Pershing Hall.''.
    (c) Closing of Revolving Fund Upon Disposal of Pershing Hall.--
Subsection (d) of such section is amended by adding at the end the 
following new paragraph (7):
    ``(7) Upon sale or other disposal of all right, title, and interest 
of the United States in and to Pershing Hall under subsection (e), the 
Secretary shall--
            ``(A) pay out of funds in or proceeds from the sale or 
        redemption of interest-bearing obligations credited to the 
        Revolving Fund all outstanding liabilities of the Revolving 
        Fund, including any unpaid expenses of the Revolving Fund and 
        reimbursements of any funds transferred to the Revolving Fund 
        under paragraph (2);
            ``(B) transfer any funds that remain in the Revolving Fund 
        after the payment of the liabilities described in subparagraph 
        (A) into the general fund of the Treasury of the United States; 
        and
            ``(C) close the Revolving Fund.''.

            Passed the Senate November 11 (legislative day, November 
      2), 1993.

            Attest:






                                                             Secretary.