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(Original Signature of Member)

108TH CONGRESS

2D SESSION

H. R. 4654

To reauthorize the Tropical Forest Conservation Act of 1998 through fiscal

vcar 2007, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

Mr. PORTMAV (for himself, Mr. LANTOS (see attached list of cosponsors]) in

troduced the following bill; which was referred to the Committee on

A BILL

To reauthorize the Tropical Forest Conservation Act of 1998

through fiscal year 2007, and for other purposes.

1

Be it enacted by the Senate and House of Representa

2 tives of the United States of America in Congress assembled,

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H.L.C.

2 1 SECTION 1. REDUCTION OF DEBT UNDER THE FOREIGN AS

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5

Section 806(d) of the Tropical Forest Conservation

6 Act of 1998 (22 U.S.C. 2431d(d)) is amended by adding

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11 SEC. 2. USE OF FUNDS TO CONDUCT PROGRAM AUDITS

12

AND EVALUATIONS.

13

Section 806 of the Tropical Forest Conservation Act

14 of 1998 (22 U.S.C. 2431d) is amended by adding at the

15 end the following new subsection:

16

"(e) USE OF FUNDS TO CONDUCT PROGRAM AUDITS

17 AND EVALUATIONS.-Of the amounts made available to

18 carry out this part for a fiscal year, $200,000 is author19 ized to be made available to carry out audits and evalua20 tions of programs under this part, including personnel

21 costs associated with such audits and evaluations.”.

22 SEC. 3. AUTHORITY TO ALLOW FOR PAYMENTS OF INTER

23

EST AND PRINCIPAL IN LOCAL CURRENCIES.

24 (a) AUTHORITY UNDER THE FOREIGN ASSISTANCE 25 ACT OF 1961.–Section 806(c) of the Tropical Forest

H.L.C.

3

1 Conservation Act of 1998 (22 U.S.C. 2431d(c)) is

2 amended

3

(1) in the matter preceding paragraph (1), by

4

striking "The following" and inserting "(1) The fol

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6

(2) by redesignating paragraphs (1) and (2) as

7

subparagraphs (A) and (B), respectively; and

8

(3) by adding at the end the following:

9

“(2) In addition to the application of the provisions

10 relating to repayment of principal under section 705 of

11 this Act to the reduction of debt under subsection (a)(1)

12 (in accordance with paragraph (1)(A) of this subsection),

13 repayment of principal on a new obligation established

14 under subsection (b) may be made in the local currency

15 of the beneficiary country and deposited in the Tropical

16 Forest Fund of the country in the same manner as the

17 provisions relating to payment of interest on new obliga

18 tions under section 706 of this Act.".

19

(b) AUTHORITY UNDER TITLE I OF THE AGRICUL

20 TURAL TRADE DEVELOPMENT AND ASSISTANCE ACT OF

21 1954.-Section 807(c) of the Tropical Forest Conserva

22 tion Act of 1998 (22 U.S.C. 2431e(c)) is amended

23

(1) in the matter preceding paragraph (1), by

24

striking "The following” and inserting “(1) The fol

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H.L.C.

4

1

(2) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively; and

2

3

(3) by adding at the end the following:

4

“(2) In addition to the application of the provisions

5 relating to repayment of principal under section 605 of

6 the Agricultural Trade Development and Assistance Act

7 of 1954 to the reduction of debt under subsection (a)(1)

8 (in accordance with paragraph (1)(A) of this subsection),

9 repayment of principal on a new obligation established

10 under subsection (b) may be made in the local currency

11 of the beneficiary country and deposited in the Tropical

12 Forest Fund of the country in the same manner as the

13 provisions relating to payment of interest on new. obliga

14 tions under section 606 of such Act.”.

15

(c) CONFORMING AMENDMENT.—Section 810(a) of (

16 the Tropical Forest Conservation Act of 1998 (22 U.S.C.

17 2431h(a)) is amended by inserting “and principal” after

18 "interest".

TROPICAL FOREST CONSERVATION ACT REAUTHORIZATION ORIGINAL
COSPONSORS
INTRODUCED BY REPRESENTATIVE ROB PORTMAN

Lantos (listed on attached bill)
Ballenger
Royce
Ros-Lehtinen
Leach
Gallegly
Wexler
Faleomavacga
Sherman
Chabot
Houghton
Weller
Brown (OH)
Pickering
Oxley
Cardin
Slaughter
Camp
Tanner
Hobson
Shaw
Ford
Ehlers
LaTourette
Gutierrez
English
Pryce
Tiberi
Tauscher

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