[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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