Page:United States Statutes at Large Volume 99 Part 1.djvu/267

 PUBLIC LAW 99-83—AUG. 8, 1985

99 STAT. 245

15 days in advance in accordance with the procedures applicable to reprogrammings pursuant to section 634A of this Act. "(e) The authority of this section shall expire on September 30, 1987.".

Post, p. 278. Expiration date.

SEC. 713. USE OF EMPLOYEE STOCK OWNERSHIP PLANS IN DEVELOPMENT EFFORTS.

(a) FINDINGS.—The Congress declares that— Business and (1) employee stock ownership plans in industrial, farming, industry. banking, and other enterprises in Central America and the Caribbean can be an important component in achieving United States goals in Central America and the Caribbean; and (2) employee stock ownership plans should be used as an instrument in financing growth and transfers of equity in the region, in reorganizing state-owned enterprises into viable employee-owned businesses, in expanding political and economic pluralism, and in strengthening democratic institutions in the region. (b) PLAN FOR EXPANDED U S E OF E S O P S. — The President is urged to develop a plan for the expanded use of employee stock ownership plans in development efforts of the United States in Central America and the Caribbean, with an emphasis on policy and infrastructural changes needed to encourage voluntary employee stock ownership initiatives by multinational corporations and other private sector enterprises which have investments, are considering making new investments, or are interested in management contracts and joint ventures in the region. (c) TASK FORCE.—To assist in this effort, there is established a Presidential Presidential Task Force on Project Economic Justice (hereafter in Task Force on Project this section referred to as the "Task Force"), which shall consist of Economic individuals appointed by the President who are distinguished lead- Justice, ers of the private sector of the United States, including significant establishment. representation of union representatives of workers in successful companies with employee stock ownership plans and of nationally recognized experts in all phases of design, implementation, and operation of employee stock ownership plans. The President shall designate one of the members of the Task Force to serve as Chairman. The Chairman of the Task Force shall appoint a volunteer fund-raising committee, and all the expenses of the Task Force shall be paid without the use of public funds. (d) REPORT.—Not later than December 31, 1985, the Task Force shall prepare and transmit to the President and the Congress a report on the expanded use of employee stock ownership plans in the development efforts of the United States in Central America and the Caribbean, including specific recommendations on strategies for using employee stock ownership plans as a means of accelerating the rate of private sector capital formation in Central America and the Caribbean that is systematically linked to expanding ownership and profit-sharing opportunities for all employees. SEC. 714. INTERNATIONAL ADVISORY COMMISSION FOR THE CARIBBEAN REGION.

(a) FINDINGS.—The Congress finds that— (1) many of the social, agricultural, educational, and economic problems which confront nations in the Caribbean Region result primarily from social and economic injustice and inadequate economic and agricultural development;

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