Statement of Administration Policy: H.R. 5071 - Federal Triangle Development Act Amendments of 1990

(House)
(Bosco (D) California)

The Administration has no objection to House passage of H.R. 5071.

However, the Administration will seek at a minimum the following Senate amendments to:

• Modify proposed new section 5(h)(3) of the Federal Triangle Development Act, which would authorize the Pennsylvania Avenue Development Corporation (PADC) to enter into agreements for the issuance of securities backed by the General Services Administration (GSA). Any amendment to the law should authorize and direct PADC to secure financing directly from the Federal Financing Bank, not from private sources.
• Delete section 10(c), which would authorize appropriations to GSA to cover any shortfalls in lease payments by the International Cultural and Trade Center Commission (ICTCC). This provision authorizes unlimited appropriations to underwrite the ICTCC. The original intent of the Act was for the ICTCC to be self-sufficient.