article: entitled ``Joint Resolution making further continuing appropriations for the fiscal year 1986, and for other purposes'' (Public Law 99- 190; 99 Stat. 1251) is repealed. (2) Exception.--The authority provided in the matter repealed by paragraph (1) of this subsection shall be preserved to the extent necessary to carry out obligations of the United States with respect to clean coal technology projects selected by the Secretary of Energy pursuant to the fifth general request for proposals issued by the Secretary under such section 101(d) (and pursuant to any such general request issued before the fifth general request). (c) Rescission.--Any unobligated funds previously appropriated for the Clean Coal Technology program are rescinded. TITLE IV--FOREIGN OPERATIONS PROGRAMS SEC. 401. TERMINATION OF OVERSEAS PRIVATE INVESTMENT CORPORATION. (a) Termination.-- (1) Termination of authority to make new obligations.--(A) Effective 60 days after the date of the enactment of this Act, the Overseas Private Investment Corporation shall not issue any insurance, guaranties, or reinsurance, make any loan, or acquire any securities, under section 234 of the Foreign Assistance Act of 1961, enter into any agreements for any other activity authorized by such section 234, or enter into risk sharing arrangements authorized by section 234A of that Act. (B) Subparagraph (A) does not require the termination of any contract or other agreement entered into before such paragraph takes effect. (2) Termination of opic.--Effective 180 days after the date of the enactment of this Act, the Overseas Private Investment Corporation is abolished. (3) Transfer of operations to omb.--The Director of the Office of Management and Budget shall, effective 180 days after the date of the enactment of this Act, perform the functions of the Overseas Private Investment Corporation with respect to contracts and agreements described in paragraph (1)(B) until the expiration of such contracts and agreements, but shall not renew any such contract or agreement. The Director shall take the necessary steps to wind up the affairs of the Corporation. (4) Repeal of authorities.--Effective 180 days after the date of the enactment of this Act, title IV of chapter 2 of part I of the Foreign Assistance Act of 1961 (22 U.S.C. 2191 and following) is repealed, but shall continue to apply with respect to functions performed by the Director of the Office of Management and Budget under paragraph (3). (5) Appropriations.--Funds available to the Corporation shall, upon the effective date of the repeal made by paragraph (4), be transferred to the Director of the Office of Management and Budget for use in performing the functions of the Corporation under paragraph (3). Upon the expiration of the contracts and agreements with respect to which the Director is exercising such functions, any unexpended balances of the funds transferred under this subsection shall be deposited in the Treasury as miscellaneous receipts. (b) Savings Provisions.-- (1) Prior determinations not affected.--The repeal made by subsection (a)(4) of the provisions of law set forth in such subsection shall not affect any order, determination, regulation, or contract that has been issued, made, or allowed to become effective under such provisions before the effective date of the repeal. All such orders, determinations, regulations, and contracts shall continue in effect until modified, superseded, terminated, set aside, or revoked in accordance with law by the President, the Director of the Office of Management and Budget, or other authorized official, a court of competent jurisdiction, or by operation of law. (2) Pending proceedings.--(A) The repeal made by subsection (a)(4) shall not affect any proceedings, including notices of proposed rulemaking, pending on the effective date of the repeal, before the Overseas Private Investment Corporation, except that no insurance, reinsurance, guarantee, or loan may be issued pursuant to any application pending on such effective date. Such proceedings, to the extent that they relate to functions performed by the Director of the Office of Management and Budget after such repeal, shall be continued. Orders shall be issued in such proceedings, appeals shall be taken therefrom, and payments shall be made pursuant to such orders, as if this Act had not been enacted; and orders issued in any such proceedings shall continue in effect until modified, terminated, superseded, or revoked by the Director, by a court of competent jurisdiction, or by operation of law. Nothing in this paragraph shall be deemed to prohibit the discontinuance or modification of any such proceeding under the same terms and conditions and to the same extent that such proceeding could have been discontinued or modified if this section had not been enacted. (B) The Director of the Office of Management and Budget is authorized to issue regulations providing for the orderly transfer of proceedings continued under subparagraph (A). (3) Actions.--Except as provided in paragraph (5)-- (A) the provisions of this Act shall not affect suits commenced before the effective date of the repeal made by subsection (a)(4); and (B) in all such suits, proceedings shall be had, appeals taken, and judgments rendered in the same manner and effect as if this section had not been enacted. (4) Liabilities incurred.--No suit, action, or other proceeding commenced by or against any officer in the official capacity of such individual as an officer of the Overseas Private Investment Corporation, shall abate by reason of the enactment of this section. No cause of action by or against the Overseas Private Investment Corporation, or by or against any officer thereof in the official capacity of such officer shall abate by reason of the enactment of this section. (5) Parties.--If, before the effective date of the repeal made by subsection (a)(4), the Overseas Private Investment Corporation or an officer thereof in the official capacity of such officer, is a party to a suit, then such suit shall be continued with the Director of the Office of Management and Budget substituted or added as a party. (6) Review.--Orders and actions of the Director of the Office of Management and Budget in the exercise of functions of the Overseas Private Investment Corporation shall be subject to judicial review to the same extent and in the same manner as if such orders and actions had been issued or taken by the Overseas Private Investment Corporation. Any statutory requirements relating to notice, hearings, action upon the record, or administrative review that apply to any function of the Overseas Private Investment Corporation shall apply to the exercise of such function by the Director of the Office of Management and Budget. (c) Technical and Conforming Amendments.-- (1) Title 5, united states code.--(A) Section 5314 of title 5, United States Code, is amended by striking ``President, Overseas Private Investment Corporation.''. (B) Section 5315 of title 5, United States Code, is amended by striking ``Executive Vice President, Overseas Private Investment Corporation.''. (C) Section 5316 of title 5, United States Code, is amended by striking ``Vice Presidents, Overseas Private Investment Corporation (3).''. (2) Other amendments and repeals.--(A) Section 222(a) of the Foreign Assistance Act of 1961 is amended by inserting after ``section 238(c)'' the following: ``as in effect on the day before the effective date of the repeal of that section made by section 401(a)(4) of the Omnibus Corporate Welfare Reduction Act of 1997''. (B) Section 2301(b)(9) of the Export Enhancement Act of 1988 (15 U.S.C. 4721(b)(9)) is amended by striking ``the Overseas Private Investment Corporation,''. (C) Section 2312(d)(1) of the Export Enhancement Act of 1988 (15 U.S.C. 4727(d)(1)) is amended-- (i) by striking subparagraph (K); and (ii) by redesignating subparagraphs (L) and (M) as subparagraphs (K) and (L), respectively. (D) Section 5402(b) of the Omnibus Trade and Competitiveness Act of 1988 (15 U.S.C. 4902(b)) is amended-- (i) in paragraph (12) by adding ``and'' after the semicolon; (ii) by striking paragraph (13); and (iii) by redesignating paragraph (14) as paragraph (13). (E) Section 624 of the Higher Education Act of 1965 (20 U.S.C. 1131c) is amended by striking ``the Overseas Private Investment Corporation,''. (F) Section 481(e)(4)(A) of the Foreign Assistance Act of 1961 (22 U.S.C. 2291(e)(4)(A)) is amended by striking ``(including programs under title IV of chapter 2, relating to the Overseas Private Investment Corporation)''. (G)(i) Section 574 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1996 (22 U.S.C. 2394 note) is amended-- (I) by amending subsection (b) to read as follows: ``(b) Countries.--The countries referred to in subsection (a) are countries for which in excess of $5,000,000 has been obligated during the previous fiscal year for assistance under sections 103 through 106, chapters 10 and 11 of part I, and chapter 4 of part II of the Foreign Assistance Act of 1961, and under the Support for East European Democracy Act of 1989.''; and (II) in the first sentence of subsection (c) by striking ``the Administrator'' and all that follows through ``Corporation'' and inserting ``and the Administrator of the Agency for International Development''. (ii) The amendment made by clause (i) shall first apply to the annual report required to be submitted under section 574(a) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1996 in the fiscal year following the fiscal year in which no funds have been obligated by the Overseas Private Investment Corporation by virtue of this section. (H) Section 2(c)(12) of the Support for East European Democracy (SEED) Act of 1989 (22 U.S.C. 5401(c)(12)) is repealed. (I) Section 202(b)(2)(B) of the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 (22 U.S.C. 6062(b)(2)(B)) is amended-- (i) by striking clause (iv); and (ii) by redesignating clauses (v), (vi), and (vii) as clauses (iv), (v), and (vi), respectively. (J) Section 9101(3) of title 31, United States Code, is amended-- (i) by striking subparagraph (H); and (ii) by redesignating subparagraphs (I) through (P) as subparagraphs (G) through (O), respectively. (K) The following provisions of law are repealed: (i) Section 5(b)(2) of the Overseas Private Investment Corporation Amendments Act of 1981 (22 U.S.C. 2194a). (ii) Section 5 of the Taiwan Relations Act (22 U.S.C. 3304). (iii) Subsections (b), (c), and (d) of section 576 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1991. (iv) Subsections (b), (c), and (d) of section 597 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1990. (v) Sections 109 and 111 of the Overseas Private Investment Corporation Amendments Act of 1988, as enacted by reference in section 555 of Public Law 100- 461. (3) Effective date.--The amendments and repeals made by this subsection shall take effect 180 days after the date of the enactment of this Act. SEC. 402. SENSE OF THE CONGRESS THAT THE UNITED STATES SHOULD NOT PARTICIPATE IN THE LATEST ROUND OF THE IMF GENERAL AGREEMENTS TO BORROW. (a) Findings.--The Congress finds that-- (1) the International Monetary Fund (IMF) operates outside of public scrutiny, releasing almost no information to the public, thereby avoiding adequate accountability for its programs; (2) to ensure that it gets repaid, the IMF frequently imposes ``conditionality'' on its loans--policy changes that borrowing countries must undertake to receive a loan; (3) frequently, the IMF has forced developing nations to enact unsound economic policies, which have led to tax increases on the poor, draconian currency devaluations, and resource exploitation; (4) the IMF will do considerable harm to developing countries by continuing to make loans to their governments; (5) bailing out these governments only encourages them to continue policies detrimental to their citizens, such as destroying scarce natural resources, maintaining bloated bureaucracies, operating money-losing state-sponsored industries, and spending too much on their militaries; and (6) new IMF funding to developing countries frequently ends up substituting IMF debt for reschedulable commercial bank debt. (b) Sense of the Congress.--It is the sense of the Congress that the United States should not participate in the latest round of the General Agreements to Borrow, commonly referred to as the ``New Arrangements to Borrow''. SEC. 403. SENSE OF THE CONGRESS THAT THE UNITED STATES SHOULD NOT PROVIDE ADDITIONAL RESOURCES TO THE IMF ENHANCED STRUCTURAL ADJUSTMENT FACILITY. (a) Findings.--The Congress finds that-- (1) the Enhanced Structural Adjustment Facility (ESAF) of the International Monetary Fund makes low interest loans to the poorest developing countries that cannot pay their bills; (2) countries that borrow from the ESAF must be prepared to adopt multi-year economic and structural ``reform'' programs, which have frequently done the countries more harm than good; and (3) despite 10 years of ESAF lending, poverty continues to increase in many countries that are eligible for loans from the ESAF. (b) Sense of the Congress.--It is the sense of the Congress that the United States should not provide additional resources to the Enhanced Structural Adjustment Facility. TITLE V--TRANSPORTATION PROGRAMS SEC. 501. SENSE OF CONGRESS CONCERNING HIGHWAY DEMONSTRATION PROJECTS. (a) Finding.--Congress finds that-- (1) the Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA) included a five-fold increase in demonstration projects compared to the Surface Transportation and Uniform Relocation Assistance Act of 1987; (2) highway demonstration projects provide limited economic benefits; and (3) highway demonstration projects frequently are not consistent with key transportation priorities, do not appear on State or regional transportation plans, and draw funds away from other major Federal-aid highway programs. (b) Sense of Congress.--It is therefore the sense of Congress that highway demonstration projects should not be required by Federal law. SEC. 502. ELIMINATION OF APPALACHIAN DEVELOPMENT HIGHWAY SYSTEM PROGRAM. (a) Repeal.--Section 201 of the Appalachian Regional Development Act of 1965 (40 U.S.C. App. 201) is repealed. (b) Conforming Amendments.--Section 401 of such Act (40 U.S.C. App. 401) is amended-- (1) by striking ``in section 201 for the Appalachian Development Highway System and Local Access Roads, and''; and (2) by striking ``and in section 201(g) for the Appalachian development highway system and local access roads,''.
summary: TABLE OF CONTENTS: Title I: Agriculture Programs Title II: Energy and Water Programs Title III: Interior Programs Title IV: Foreign Operations Programs Title V: Transportation Programs Omnibus Corporate Welfare Reduction Act of 1997 - Title I: Agriculture Programs - Repeals the Rural Electrification Act of 1936 (REA), provisions of the Disaster Relief Act of 1970 relating to adjusting the repayment schedules on REA loans, and provisions of Federal law regarding: (1) congressional policy concerning making funds available to rural electric and telephone systems; (2) congressional policy with respect to rural telephone system financing; (3) loan programs under the Rural Electrification and Telephone Revolving Fund; and (4) rural advanced telecommunications. Rescinds related unobligated balances. (Sec. 102) Repeals provisions of the Agricultural Trade Act of 1978 regarding an agricultural commodity export promotion program. Title II: Energy and Water Programs - Prohibits obligating or spending funds for the Animas-La Plata Project, Colorado and New Mexico, except regarding alternatives that would satisfy the water rights interests of the Ute Mountain Ute Indian Tribe and the Southern Ute Indian Tribe. (Sec. 202) Declares that the Congress is concerned about the pyroprocessing program and should not proceed with a liquid metal reactor program. Amends provisions of the Energy Policy Act of 1992 relating to advanced nuclear reactors to remove references to liquid metal reactors. Title III: Interior Programs - Prohibits the Department of Energy from conducting any fossil energy research and development, except as required by contracts entered into before enactment of this Act and as necessary to terminate ongoing activities. Authorizes appropriations. (Sec. 302) Amends Federal law commonly known as the National Forest Roads and Trails Act to modify requirements regarding the construction of forest development roads. Declares that it is the sense of the Congress that the full cost of forest road design, construction, and maintenance should be recovered through user fees. (Sec. 303) Prohibits fund obligation for the Clean Coal Technology program. Repeals, subject to exception, related appropriations from an appropriations Act for FY 1986 and rescinds any related unobligated funds. Title IV: Foreign Operations Programs - Abolishes the Overseas Private Investment Corporation (OPIC) and repeals related provisions. Requires that the Office of Management and Budget perform OPIC functions on certain existing contracts until their expiration. Prohibits contract renewal. Deposits unexpended balances in the Treasury as miscellaneous receipts. (Sec. 402) Sets forth findings regarding the International Monetary Fund and its Enhanced Structural Adjustment Facility (ESAF). Declares that it is the sense of the Congress that the United States should not participate in the latest round of General Agreements to Borrow (commonly referred to as the New Arrangement to Borrow) or provide additional resources to the ESAF. Title V: Transportation Programs - Expresses the sense of the Congress that highway demonstration projects should not be required by Federal law. (Sec. 502) Repeals provisions of the Appalachian Regional Development Act of 1965 authorizing the Appalachian development highway system.