Page:United States Statutes at Large Volume 112 Part 1.djvu/913

 PUBLIC LAW 105-214 --JULY 29, 1998 112 STAT. 887 "(6) ELIGIBLE COUNTRY. — The term 'eligible country' means a country designated by the President in accordance with section 805. "(7) TROPICAL FOREST AGREEMENT. — The term Tropical Forest Agreement' or 'Agreement' means a Tropical Forest Agreement provided for in section 809. "(8) TROPICAL FOREST FACILITY. —The term 'Tropical Forest Facility* or 'Facility* means the Tropical Forest Facility established in the Department of the Treasury by section 804. "(9) TROPICAL FOREST FUND. — The term 'Tropical Forest Fund' or 'Fund' means a Tropical Forest Fund provided for in section 810. "SEC. 804. ESTABLISHMENT OF THE FACILITY. 22 USC 2431b. "There is established in the Department of the Treasury an entity to be known as the 'Tropical Forest Facility* for the purpose of providing for the administration of debt reduction in accordance with this part. '<SEC. 805. ELIGIBILITY FOR BENEFITS. 22 USC 2431c. " (a) IN GENERAL. —To be eligible for benefits from the Facility under this part, a country shall be a developing country with a tropical forest— "(1) whose government meets the requirements applicable to Latin American or Caribbesm countries under paragraphs (1) through (5) and (7) of section 703(a) of this Act; and "(2) that has put in place major investment reforms, as evidenced by the conclusion of a bilateral investment treaty with the United States, implementation of an investment sector loan with the Inter-American Development Bank, World Bank-supported investment reforms, or other measures, as appropriate. "(b) ELIGIBILITY DETERMINATIONS. — President. "(1) IN GENERAL. — Consistent with subsection (a), the President shall determine whether a country is eligible to receive benefits under this part. "(2) CONGRESSIONAL NOTIFICATION.— The President shall notify the appropriate congressional committees of his intention ?i- to designate a country as an eligible country at least 15 days in advance of any formal determination. "SEC. 806. REDUCTION OF DEBT OWED TO THE UNITED STATES AS 22 USC 2431d. A RESULT OF CONCESSIONAL LOANS UNDER THE FOREIGN ASSISTANCE ACT OF 1961. "(a) AUTHORITY TO REDUCE DEBT.— "(1) AUTHORITY.—The President may reduce the amount owed to the United States (or any agency of the United States) that is outstanding as of January 1, 1998, as a result of concessional loans made to an eligible country by the United States under part I of this Act, chapter 4 of part II of this Act, or predecessor foreign economic assistsince legislation. "(2) AUTHORIZATION OF APPROPRIATIONS. —For the cost (as defined in section 502(5) of the Federal Credit Reform Act of 1990) for the reduction of any debt pursuant to this section, there are authorized to be appropriated to the President— "(A) $25,000,000 for fiscal year 1999; "(B) $75,000,000 for fiscal year 2000; and "(C) $100,000,000 for fiscal year 2001.

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