[Congressional Record Volume 148, Number 120 (Friday, September 20, 2002)]
[Senate]
[Pages S8983-S8985]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 4695. Mrs. FEINSTEIN (for herself. Mr. Fitzgerald, Mr. Harkin, Mr. 
Lugar, and Ms. Cantwell) submitted an amendment intended to be proposed 
to amendment SA 4471 proposed by Mr. Lieberman to the bill H.R. 5005, 
to establish the Department of Homeland Security, and for other 
purposes; which was ordered to lie on the table; as follows:

       On page 347, after line 5, add the following:

              DIVISION D--EXEMPT COMMODITIES TRANSACTIONS

     SEC. 3101. SHORT TITLE.

       This division may be cited as the ``Exempt Commodities 
     Transactions Act''.

     SEC. 3102. OFF-EXCHANGE TRANSACTIONS IN EXEMPT COMMODITIES.

       Section 2 of the Commodity Exchange Act (7 U.S.C. 2) is 
     amended by striking subsections (g) and (h) and inserting the 
     following:
       ``(g) Off-Exchange Transactions in Exempt Commodities.--
       ``(1) Definitions.--In this subsection:
       ``(A) Covered entity.--The term `covered entity' means--
       ``(i) an electronic trading facility; and
       ``(ii) a dealer market.
       ``(B) Dealer market.--
       ``(i) In general.--The term `dealer market' has the meaning 
     given the term by the Commission.
       ``(ii) Inclusions.--The term `dealer market' includes each 
     bilateral or multilateral agreement, contract, or transaction 
     determined by the Commission, regardless of the means of 
     execution of the agreement, contract, or transaction.
       ``(2) Exemption for transactions not on trading 
     facilities.--Except as provided in paragraph (4), nothing in 
     this Act shall apply to an agreement, contract, or 
     transaction in an exempt commodity that--
       ``(A) is entered into solely between persons that are 
     eligible contract participants at the time the persons enter 
     into the agreement, contract, or transaction; and
       ``(B) is not entered into on a trading facility.
       ``(3) Exemption for transactions on covered entities.--
     Except as provided in paragraphs (4), (5), and (6), nothing 
     in this Act shall apply to an agreement, contract, or 
     transaction in an exempt commodity that is--
       ``(A) entered into on a principal-to-principal basis solely 
     between persons that are eligible contract participants at 
     the time at which the persons enter into the agreement, 
     contract, or transaction; and
       ``(B) executed or traded on a covered entity.
       ``(4) Regulatory and oversight requirements.--
       ``(A) In general.--An agreement, contract, or transaction 
     described in paragraph (2) or (3) (and the covered entity on 
     which the agreement, contract, or transaction is executed) 
     shall be subject to--
       ``(i) sections 5b, 12(e)(2)(B), and 22(a)(4);
       ``(ii) the provisions relating to manipulation and 
     misleading transactions under sections 4b, 4c(a), 4c(b), 4o, 
     6(c), 6(d), 6c, 6d, 8a, and 9(a)(2);
       ``(iii) the provisions relating to fraud and misleading 
     transactions under sections 4b, 4c(a), 4c(b), 4o, and 8a; and
       ``(iv) in the case of a transaction or covered entity 
     performing a significant pricing or price discovery function 
     for transactions in the cash market for the underlying 
     commodity, the requirements (to the extent the Commission 
     determines appropriate by regulation) that--

       ``(I) notice be provided to the Commission in such form as 
     the Commission may require;
       ``(II)(aa) reports be filed with the Commission (including 
     large trader position reports); and
       ``(bb) timely dissemination of price, trading volume, and 
     other trading data be provided; and
       ``(III) consistent with section 4i, books and records be 
     maintained relating to each transaction in such form as the 
     Commission may require for a period of at least 5 years after 
     the date of the transaction.

       ``(B) Transactions exempted by commission action.--
     Notwithstanding any exemption by the Commission under section 
     4(c), an agreement, contract, or transaction described in 
     paragraph (2) or (3) shall be subject to the authorities in 
     clauses (i), (ii), and (iii) of subparagraph (A).
       ``(5) Covered entities.--An agreement, contract, or 
     transaction described in paragraph (3) and the covered entity 
     on which the agreement, contract, or transaction is executed, 
     shall be subject to (to the extent the Commission determines 
     appropriate)--
       ``(A) section 5a, to the extent provided in section 5a(g)) 
     and 5d;
       ``(B) consistent with section 4i, a requirement that books 
     and records relating to the business of the covered entity on 
     which the agreement, contract, or transaction is executed be 
     made available to representatives of the Commission and the 
     Department of Justice for inspection for a period of at least 
     5 years after the date of each transaction, including--
       ``(i) information relating to data entry and transaction 
     details sufficient to enable the Commission to reconstruct 
     trading activity on the covered entity; and
       ``(ii) the name and address of each participant on the 
     covered entity authorized to enter into transactions; and
       ``(C) a requirement that information on volume, settlement 
     price, open interest, opening and closing ranges, and any 
     other information that the Commission determines to be 
     appropriate for public disclosure be made available to the 
     public on a daily basis, except that the Commission shall 
     not--
       ``(i) require the real-time publication of proprietary 
     information; or
       ``(ii) prohibit the commercial sale of real-time 
     proprietary information.
       ``(6) Notification, disclosures, and other requirements for 
     covered entities.--A covered entity subject to the exemption 
     under paragraph (3) shall (to the extent the Commission 
     determines appropriate)--
       ``(A) notify the Commission of the intention of the covered 
     entity to operate as a covered entity subject to the 
     exemption under paragraph (3), which notice shall include--
       ``(i) the name and address of the covered entity and a 
     person designated to receive communications from the 
     Commission;
       ``(ii) the commodity categories that the covered entity 
     intends to list or otherwise make available for trading on 
     the covered entity in reliance on the exemption under 
     paragraph (3);
       ``(iii) certifications that--

       ``(I) no executive officer or member of the governing board 
     of, or any holder of a 10 percent or greater equity interest 
     in, the covered entity is a person described in any of 
     subparagraphs (A) through (H) of section 8a(2);
       ``(II) the covered entity will comply with the conditions 
     for exemption under this subsection; and
       ``(III) the covered entity will notify the Commission of 
     any material change in the information previously provided by 
     the covered entity to the Commission under this paragraph; 
     and

       ``(iv) the identity of any derivatives clearing 
     organization to which the covered entity transmits or intends 
     to transmit transaction data for the purpose of facilitating 
     the clearance and settlement of transactions conducted on the 
     covered entity subject to the exemption under paragraph (3);
       ``(B)(i) provide the Commission with access to the trading 
     protocols of the covered entity and electronic access to the 
     covered entity with respect to transactions conducted in 
     reliance on the exemption under paragraph (3); and
       ``(ii) on special call by the Commission, provide to the 
     Commission, in a form and manner and within the period 
     specified in the special call, such information relating to 
     the business of the covered entity as a covered entity exempt 
     under paragraph (3), including information relating to data 
     entry and transaction details with respect to transactions 
     entered into in reliance on the exemption under paragraph 
     (3), as the Commission may determine appropriate--
       ``(I) to enforce the provisions specified in paragraph (4);
       ``(II) to evaluate a systemic market event; or
       ``(III) to obtain information requested by a Federal 
     financial regulatory authority to enable the authority to 
     fulfill the regulatory or supervisory responsibilities of the 
     authority;
       ``(C)(i) on receipt of any subpoena issued by or on behalf 
     of the Commission to any foreign person that the Commission 
     believes is conducting or has conducted transactions in 
     reliance on the exemption under paragraph (3) on or through 
     the covered entity relating to the transactions, promptly 
     notify the foreign person of, and transmit to the foreign 
     person, the subpoena in a manner that is reasonable under the 
     circumstances, or as specified by the Commission; and
       ``(ii) if the Commission has reason to believe that a 
     person has not timely complied with a subpoena issued by or 
     on behalf of the Commission under clause (i), and the 
     Commission in writing directs that a covered entity relying 
     on the exemption under paragraph (3) deny or limit further 
     transactions by the person, deny that person further trading 
     access to the covered entity or, as applicable, limit that 
     access of the person to the covered entity for liquidation 
     trading only;
       ``(D) comply with the requirements of this subsection 
     applicable to the covered entity and require that each 
     participant, as a condition of trading on the covered entity 
     in reliance on the exemption under paragraph (3), agree to 
     comply with all applicable law;
       ``(E) certify to the Commission that the covered entity has 
     a reasonable basis for believing that participants authorized 
     to conduct transactions on the covered entity in reliance on 
     the exemption under paragraph (3) are eligible contract 
     participants;
       ``(F) maintain sufficient capital, commensurate with the 
     risk associated with the transaction; and
       ``(G) not represent to any person that the covered entity 
     is registered with, or designated, recognized, licensed, or 
     approved by the Commission.

[[Page S8984]]

       ``(7) Hearing.--A person named in a subpoena referred to in 
     paragraph (6)(C) that believes the person is or may be 
     adversely affected or aggrieved by action taken by the 
     Commission under this subsection, shall have the opportunity 
     for a prompt hearing after the Commission acts under 
     procedures that the Commission shall establish by rule, 
     regulation, or order.
       ``(8) Private regulatory organizations.--
       ``(A) Delegation of functions under core principles.--A 
     covered entity may comply with any core principle under 
     subparagraph (B) that is applicable to the covered entity 
     through delegation of any relevant function to--
       ``(i) a registered futures association under section 17; or
       ``(ii) another registered entity.
       ``(B) Core principles.--The Commission may establish core 
     principles requiring a covered entity to monitor trading to--
       ``(i) prevent fraud and manipulation;
       ``(ii) prevent price distortion and disruptions of the 
     delivery or cash settlement process;
       ``(iii) ensure that the covered entity has adequate 
     financial, operational, and managerial resources to discharge 
     the responsibilities of the covered entity; and
       ``(iv) ensure that all reporting, recordkeeping, notice, 
     and registration requirements under this subsection are 
     discharged in a timely manner.
       ``(C) Responsibility.--A covered entity that delegates a 
     function under subparagraph (A) shall remain responsible for 
     carrying out the function.
       ``(D) Noncompliance.--If a covered entity that delegates a 
     function under subparagraph (A) becomes aware that a 
     delegated function is not being performed as required under 
     this Act, the covered entity shall promptly take action to 
     address the noncompliance.
       ``(E) Violation of core principles.--
       ``(i) In general.--If the Commission determines, on the 
     basis of substantial evidence, that a covered entity is 
     violating any applicable core principle specified in 
     subparagraph (B), the Commission shall--

       ``(I) notify the covered entity in writing of the 
     determination; and
       ``(II) afford the covered entity an opportunity to make 
     appropriate changes to bring the covered entity into 
     compliance with the core principles.

       ``(ii) Failure to make changes.--If, not later than 30 days 
     after receiving a notification under clause (i)(I), a covered 
     entity fails to make changes that, as determined by the 
     Commission, are necessary to comply with the core principles, 
     the Commission may take further action in accordance with 
     this Act.
       ``(F) Reservation of emergency authority.--Nothing in this 
     paragraph limits or affects the emergency powers of the 
     Commission provided under section 8a(9).
       ``(9) No effect on other authority.--This subsection shall 
     not affect the authority of the Federal Energy Regulatory 
     Commission to regulate an agreement, contract, or transaction 
     under the Federal Power Act (16 U.S.C. 791a et seq.) or the 
     Natural Gas Act (15 U.S.C 717 et seq.).''.

     SEC. 3103. FRAUDULENT TRANSACTIONS PROHIBITED.

       Section 4b of the Commodity Exchange Act (7 U.S.C. 6b) is 
     amended by striking subsection (a) and inserting the 
     following:
       ``(a) Prohibition.--It shall be unlawful for any person, 
     directly or indirectly, in or in connection with any account, 
     or any offer to enter into, the entry into, or the 
     confirmation of the execution of, any agreement, contract, or 
     transaction subject to this Act--
       ``(1) to cheat or defraud or attempt to cheat or defraud 
     any person;
       ``(2) willfully to make or cause to be made to any person 
     any false report or statement, or willfully to enter or cause 
     to be entered for any person any false record;
       ``(3) willfully to deceive or attempt to deceive any person 
     by any means whatsoever; or
       ``(4) except as permitted in written rules of a registered 
     entity--
       ``(A) to bucket an order;
       ``(B) to fill an order by offset against the 1 or more 
     orders of another person; or
       ``(C) willfully and knowingly, for or on behalf of any 
     other person and without the prior consent of the person, to 
     become--
       ``(i) the buyer with respect to any selling order of the 
     person; or
       ``(ii) the seller with respect to any buying order of the 
     person.''.

     SEC. 3104. FERC LIAISON.

       Section 2(a)(9) of the Commodity Exchange Act (7 U.S.C. 
     2(a)(9)) is amended by adding at the end the following:
       ``(C) Liaison with federal energy regulatory commission.--
     The Commission shall, in cooperation with the Federal Energy 
     Regulatory Commission, maintain a liaison between the 
     Commission and the Federal Energy Regulatory Commission.''.

     SEC. 3105. CRIMINAL AND CIVIL PENALTIES.

       (a) Enforcement Powers of Commission.--Section 6(c) of the 
     Commodity Exchange Act (7 U.S.C. 9, 15) is amended in 
     paragraph (3) of the tenth sentence--
       (1) by inserting ``(A)'' after ``assess such person''; and
       (2) by inserting after ``each such violation'' the 
     following: ``, or (B) in any case of manipulation of, or 
     attempt to manipulate, the price of any commodity, a civil 
     penalty of not more than the greater of $1,000,000 or triple 
     the monetary gain to such person for each such violation,''.
       (b) Manipulations or Other Violations.--Section 6(d) of the 
     Commodity Exchange Act (7 U.S.C. 13b) is amended in the first 
     sentence--
       (1) by striking ``paragraph (a) or (b) of section 9 of this 
     Act'' and inserting ``subsection (a), (b), or (f) of section 
     9''; and
       (2) by striking ``said paragraph 9(a) or 9(b)'' and 
     inserting ``subsection (a), (b), or (f) of section 9''.
       (c) Nonenforcement of Rules of Government or Other 
     Violations.--Section 6b of the Commodity Exchange Act (7 
     U.S.C. 13a) is amended--
       (1) in the first sentence--
       (A) by inserting ``section 2(g)(8),'' after ``sections 5 
     through 5c,''; and
       (B) by inserting before the period at the end the 
     following: ``, or, in any case of manipulation of, or an 
     attempt to manipulate, the price of any commodity, a civil 
     penalty of not more than $1,000,000 for each such 
     violation''; and
       (2) in the second sentence, by inserting before the period 
     at the end the following: ``, except that if the failure or 
     refusal to obey or comply with the order involved any offense 
     under section 9(f), the registered entity, director, officer, 
     agent, or employee shall be guilty of a felony and, on 
     conviction, shall be subject to penalties under section 
     9(f)''.
       (d) Action to Enjoin or Restrain Violations.--Section 6c(d) 
     of the Commodity Exchange Act (7 U.S.C. 13a-1(d)) is amended 
     by striking ``(d)'' and all that follows through the end of 
     paragraph (1) and inserting the following:
       ``(d) Civil Penalties.--
       ``(1) In general.--In any action brought under this 
     section, the Commission may seek and the court shall have 
     jurisdiction to impose, on a proper showing, on any person 
     found in the action to have committed any violation--
       ``(A) a civil penalty in the amount of not more than the 
     greater of $100,000 or triple the monetary gain to the person 
     for each violation; or
       ``(B) in any case of manipulation of, or an attempt to 
     manipulate, the price of any commodity, a civil penalty in 
     the amount of not more than the greater of $1,000,000 or 
     triple the monetary gain to the person for each violation.''.
       (e) Violations Generally.--Section 9 of the Commodity 
     Exchange Act (7 U.S.C. 13) is amended--
       (1) by redesignating subsection (f) as subsection (e); and
       (2) by adding at the end the following:
       ``(f) Price Manipulation.--It shall be a felony punishable 
     by a fine of not more than $1,000,000 for each violation or 
     imprisonment for not more than 10 years, or both, together 
     with the costs of prosecution, for any person--
       ``(1) to manipulate or attempt to manipulate the price of 
     any commodity in interstate commerce, or for future delivery 
     on or subject to the rules of any registered entity;
       ``(2) to corner or attempt to corner any such commodity;
       ``(3) knowingly to deliver or cause to be delivered (for 
     transmission through the mails or interstate commerce by 
     telegraph, telephone, wireless, or other means of 
     communication) false or misleading or knowingly inaccurate 
     reports concerning crop or market information or conditions 
     that affect or tend to affect the price of any commodity in 
     interstate commerce; or
       ``(4) knowingly to violate section 4 or 4b, any of 
     subsections (a) through (e) of subsection 4c, or section 4h, 
     4o(1), or 19.''.

     SEC. 3106. FEDERAL ENERGY REGULATORY COMMISSION REVIEW OF 
                   ENERGY TRADING MARKETS.

       Section 402 of the Department of Energy Organization Act 
     (42 U.S.C. 7172) is amended by adding at the end the 
     following:
       ``(i) Review of Derivatives Transactions.--
       ``(1) In general.--To the extent that the Commission 
     determines that any contract that comes before the Commission 
     is not under the jurisdiction of the Commission, the 
     Commission shall refer the contract to the appropriate 
     Federal agency.
       ``(2) Meetings.--A designee of the Commission shall meet 
     quarterly with a designee of the Commodity Futures Trading 
     Commission, the Securities Exchange Commission, the 
     Department of the Treasury, and the Federal Reserve Board to 
     discuss--
       ``(A) conditions and events in energy trading markets; and
       ``(B) any changes in Federal law (including regulations) 
     that may be appropriate to regulate energy trading markets.
       ``(3) Liaison.--The Commission shall, in cooperation with 
     the Commodity Futures Trading Commission, maintain a liaison 
     between the Commission and the Commodity Futures Trading 
     Commission.''.

     SEC. 3107. CONFORMING AMENDMENTS.

       (a) Section 2 of the Commodity Exchange Act (7 U.S.C. 2) is 
     amended--
       (1) in subsection (d)(1), by striking ``section 5b'' and 
     inserting ``section 5a(g), 5b,'';
       (2) in subsection (e)--
       (A) in paragraph (1), by striking ``, 2(g), or 2(h)(3)''; 
     and
       (B) in paragraph (3), by striking ``2(h)(5)'' and inserting 
     ``2(g)(6)'';
       (3) by redesignating subsection (i) as subsection (h); and
       (4) in subsection (h) (as redesignated by paragraph (3)); 
     and
       (A) in paragraph (1)--

[[Page S8985]]

       (i) by striking ``No provision'' and inserting ``In 
     general.--Subject to subsection (g), no provision''; and
       (ii) in subparagraph (A)--

       (I) by striking ``section 2(c), 2(d), 2(e), 2(f), or 2(g) 
     of this Act'' and inserting ``subsection (c), (d), (e), or 
     (f)''; and
       (II) by striking ``section 2(h)'' and inserting 
     ``subsection (g)''; and

       (B) in paragraph (2), by striking ``No provision'' and 
     inserting ``In general.--Subject to subsection (g), no 
     provision''.
       (b) Section 4i of the Commodity Exchange Act (7 U.S.C. 6i) 
     is amended in the first sentence by inserting ``, or pursuant 
     to an exemption under section 4(c)'' after ``transaction 
     execution facility''.
       (c) Section 8a(9) of the Commodity Exchange Act (7 U.S.C. 
     12a(9)) is amended--
       (1) by inserting ``or covered entity under section 2(g)'' 
     after ``direct the contract market'';
       (2) by striking ``on any futures contract''; and
       (3) by inserting ``or covered entity under section 2(g)'' 
     after ``given by a contract market''.
  SA 4696. Mr. BINGAMAN submitted an amendment intended to be proposed 
to amendment SA 4471 proposed by Mr. Lieberman to the bill H.R. 5005, 
to establish the Department of Homeland Security, and for other 
purposes; which was ordered to lie on the table; as follows:

       On page 85, between lines 3 and 4, insert the following:
       (4) Operational test and evaluation.--
       (A) Principal official for operational test and 
     evaluation.--The Under Secretary is the official within the 
     Department who, under the Secretary, is responsible for 
     operational test and evaluation activities of the Department. 
     As such, the Under Secretary is the principal adviser to the 
     Secretary regarding such activities and shall carry out the 
     duties set forth in the other provisions of this paragraph 
     subject to the authority, direction, and control of the 
     Secretary.
       (B) Policies and procedures.--The Under Secretary shall 
     prescribe policies and procedures for the conduct of 
     operational test and evaluation activities of the Department.
       (C) Monitoring and review.--The Under Secretary shall 
     monitor and review the conduct of operational test and 
     evaluation activities of the Department. The Under Secretary 
     shall require prompt reports on the conduct of such 
     activities.
       (D) Coordination.--The Under Secretary shall coordinate 
     operational test and evaluation that is carried out jointly 
     by two or more Under Secretaries of Homeland Security.
       (E) Financial management.--The Under Secretary shall review 
     all matters relating to the budget and financial management 
     for operational test and evaluation by the Department and 
     submit to the Secretary any recommendations that the Under 
     Secretary determines appropriate regarding such matters.
       (F) Access to information.--The Under Secretary shall have 
     access to any records and other information of the Department 
     that the Under Secretary determines necessary to carry of the 
     duties of the position under this paragraph.
       (G) Annual report to congress.--Not later than February 15 
     of each year, the Under Secretary shall submit to Congress a 
     report on the conduct of operational test and evaluation 
     activities of the Department during the fiscal year ending in 
     the preceding year. The report shall include an assessment of 
     the overall strength and effectiveness of the operational 
     test and evaluation infrastructure of the Department and, for 
     each major system subjected to operational test and 
     evaluation during the fiscal year covered by the report, the 
     following information:
       (i) System mission.--The mission of the major system.
       (ii) Background system information.--Background technical 
     and programmatic information on the major system.
       (iii) Test and evaluation activities.--A discussion of the 
     operational test and evaluation conducted on the major system 
     during such fiscal year.
       (iv) Operational effectiveness assessment.--An assessment 
     of the operational effectiveness of the major system, as 
     determined on the basis of the results of the operational 
     test and evaluation.
       (H) Definitions.--In this paragraph:
       (i) Major system.--The term ``major system'' has the 
     meaning given such term in section 4(9) of the Office of 
     Federal Procurement Policy Act (41 U.S.C. 403(9)).
       (ii) Operational test and evaluation.--The term 
     ``operational test and evaluation'' means a test, under 
     realistic combat conditions, of any item (or key component) 
     of a technology, of a device, or of equipment for the purpose 
     of determining the effectiveness and suitability of the 
     technology, device, or equipment for use by typical users to 
     meet homeland security needs or objectives, together with an 
     evaluation of the results of such test.
       (I) GAO report.--Not later than two years after the 
     effective date of this division, the Comptroller General 
     shall submit to Congress a report on the administration of 
     operational test and evaluation within the Department. The 
     report shall include a discussion of the implementation of 
     this paragraph, together with any recommendations for 
     improvement of the implementation of this section that the 
     Comptroller General considers appropriate. Effective 90 days 
     after the date on which the report under this section is due, 
     this subparagraph is repealed.
       On page 91, beginning on line 9, strike ``(h) Office for 
     Technology Evaluation and Transition.--'' and insert ``(h) 
     Office for Testing, Evaluation, and Transition.--''.
       On page 91, beginning on line 14, strike ``Office for 
     Technology Evaluation and Transition'' and insert ``Office 
     for Testing, Evaluation, and Transition''.
       On page 91, between lines 16 and 17, insert
       ``(A) carry out the duties of the Under Secretary with 
     respect to operational test and evaluation;''.
       On page 92, line 11, insert ``(except for the function 
     described in paragraph (2)(A))'' after ``The functions 
     described under this subsection''.
                                 ______
                                 
  SA 4697. Mr. BYRD (for Mr. Biden) proposed an amendment to the bill 
H.R. 2121, An Act to make available funds under the Foreign Assistance 
Act of 1961 to expand democracy, good governance, and anti-corruption 
programs in the Russian Federation in order to promote and strengthen 
democratic government and civil society and independent media in that 
country; as follows:

       At the appropriate place in the bill insert the following:

     SEC.   . PRESERVING THE ARCHIVES OF HUMAN RIGHTS ACTIVIST AND 
                   NOBEL PEACE PRIZE WINNER ANDREI SAKHAROV.

       (a) Authorization.--The President is authorized, on such 
     terms and conditions as the President determines to be 
     appropriate, to make a grant to Brandeis University for an 
     endowment for the Andrei Sakharov Archives and Human Rights 
     Center for the purpose of collecting and preserving documents 
     related to the life of Andrei Sakharov and the administration 
     of such Center.
       (b) Funding.--There is authorized to be appropriated to the 
     President to carry out subsection (a) not more than 
     $1,500,000.

     SEC.   . EXTENSION OF LAW.

       The provisions of section 108(c) of H.R. 3427, as enacted 
     by section 1000(a)(7) of P.L. 106-113, shall apply to U.S. 
     contributions for fiscal year 2003 to the organization 
     described in section 108(c) of H.R. 3427.

                          ____________________