    [Weekly Compilation of Presidential Documents Volume 40, Number 39 (Monday, September 27, 2004)]
    [Pages 2068-2069]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Memorandum on Intention To Grant Waiver of the Application of Section
    901(j) of the Internal Revenue Code With Respect to Libya

    September 20, 2004

    Presidential Determination No. 2004-48

    Memorandum for the Secretary of Treasury

    Subject: Intention to Grant Waiver of the Application of Section 901(j)
    of the Internal Revenue Code with Respect to Libya

        By virtue of the authority vested in me by the Constitution and the
    laws of the United States, including section 901(j)(5) of the Internal
    Revenue Code (the ``Code'') and section 301 of title 3, United States
    Code:

        (a) I hereby determine that the waiver of the application of section
    901(j)(1) of the Code with respect to Libya is in the national interest
    of the United States and will expand trade and investment opportunities
    for U.S. companies in Libya;

        (b) I intend to grant such a waiver with respect to Libya; and

        (c) I authorize and direct you to report to the Congress in
    accordance with section 901(j)(5)(B) of the Code my intention to grant
    the waiver and the reason for this determination and to arrange for
    publication of this determination in the Federal Register.
                                                    George W. Bush

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