text: 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          190; 99 Stat. 1251) is repealed.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          repealed by paragraph (1) of this subsection shall be preserved 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  the Clean Coal Technology program are rescinded.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,''.
target: 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.
feat_title: Omnibus Corporate Welfare Reduction Act of 1997