[Weekly Compilation of Presidential Documents Volume 34, Number 43 (Monday, October 26, 1998)]
[Pages 2078-2079]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Signing the Year 2000 Information and Readiness Disclosure 
Act

October 19, 1998

    Today I am pleased to sign into law S. 2392, the ``Year 2000 
Information and Readiness Disclosure Act.''
    As our Nation prepares for the year 2000 (Y2K), we face an urgent 
need to address the Y2K problem, which may cause computers and embedded 
systems that run America's critical infrastructure to malfunction or 
even shut down. With little over a year until January 1, 2000, this is a 
serious global challenge that businesses and governments around the 
world must address.
    Today, my Council on Year 2000 Conversion is launching ``National 
Y2K Action Week,'' to urge small- and medium-sized businesses to take 
the necessary steps to ensure that the technologies they and their 
business partners depend upon are ready for the year 2000. Over the next 
5 days, the Small Business Administration, the Department of Commerce, 
and several other Federal agencies will host Y2K educational events at 
their field offices across the Nation. As part of this week, we are also 
urging State, local, tribal governments, and community organizations to 
address this critical problem. More than 160 national organizations 
representing industries, professions, government, and the nonprofit 
sector have joined the Council in promoting Y2K action during this week.
    This legislation will help provide businesses, governments, and 
other organizations with the necessary informational tools to overcome 
the Y2K computer problem. This Act, which builds upon a proposal my 
Administration submitted to the Congress in July, is an important 
bipartisan accomplishment. I particularly want to thank those in the 
Congress whose hard work and support of this legislation made its 
passage possible. Representatives Horn, Kucinich, Morella, Barcia, 
Leach, LaFalce, Hyde, Conyers, Dreier, and Eschoo and Senators Bennett 
Dodd, Hatch, Leahy, and Kyl were integral to getting this work done and 
done quickly.
    Many organizations have been reluctant to share valuable information 
about their experiences in dealing with the Y2K problem or the status of 
their Y2K efforts for fear of lawsuits. The Act's limited liability 
protections will promote and encourage greater information sharing about 
both experiences and solutions, which will significantly enhance public 
and private sector efforts to prepare the Nation's computer systems for 
the new millennium. However, the bill will not affect liability that may 
arise from Y2K failures of systems or devices.
    While I understand that companies have a wide range of concerns 
related to the Y2K transition and potential litigation, we must

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also protect the rights of consumers. Therefore, this legislation is 
focused exclusively on exposure related to information exchange and 
would not cover statements to individual consumers in marketing a 
product normally used for personal use.
    Firms within an industry confront similar challenges as they work to 
ensure that their computer systems are Y2K compliant. Although the 
Department of Justice has already indicated that competitors in an 
industry who merely share information on Y2K solutions would not be in 
violation of the antitrust laws, this Act creates a specific exemption 
from the antitrust laws for these activities. The limited antitrust 
exemption created by S. 2392 will make it easier for firms to cooperate 
with one another to solve the Y2K problem while continuing to protect 
consumers from industry agreements to boycott, allocate a market, or fix 
prices or output.
    Information sharing will be important not only to those who have 
already made progress addressing the Y2K problem, but also to the many 
small business and State, local, and tribal governments that are just 
beginning their Y2K work. I urge trade associations and umbrella 
organizations to collect such information from their members and provide 
it to others through websites and other means devoted to discussing Y2K 
experiences and solutions. My Council on Year 2000 Conversion looks 
forward to working with Federal agencies, other levels of government, 
and consumer and industry groups in expanding the website, www.y2k.gov, 
that already supports activities related to our Nation's efforts to 
address issues related to the Y2K transition.
    The Y2K problem is an enormous challenge, and we must meet it. 
Enactment of this legislation is a significant achievement toward 
allowing all of us to take a successful step into the new millennium.
                                            William J. Clinton
The White House,
October 19, 1998.

Note: S. 2392, approved October 19, was assigned Public Law No. 105-271.