
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC3715c]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                        CHAPTER 51--PANAMA CANAL
 
              SUBCHAPTER I--ADMINISTRATION AND REGULATIONS
 
                       Part 3--Funds and Accounts
 
                            subpart i--funds
 
Sec. 3715c. Final evaluation of Fund; deficiency or surplus in 
        Fund
        

(a) Final evaluation of Fund

    By March 31, 1998, the Secretary of Labor shall, on the basis of an 
actuarial study conducted by experts or consultants whose services are 
procured by the Secretary of Labor by contract, make a final 
determination of the amounts estimated to be necessary to meet 
expenditures for workers' compensation benefits and other payments 
described in section 3715a(a) of this title, as calculated in accordance 
with the second sentence of section 3715a(b) of this title. Amounts in 
the Fund shall be used to pay for the final determination under this 
subsection.

(b) Deficiency or surplus in Fund

    If amounts in the Fund are not sufficient to meet expenditures as 
determined by the Secretary of Labor under subsection (a) of this 
section for workers' compensation benefits and other payments described 
in section 3715a(a) of this title, then amounts in the Panama Canal 
Revolving Fund not otherwise obligated shall be transferred to the Fund 
to make up the deficiency. Any amounts remaining in the Fund in excess 
of the final determination amount as described in subsection (a) of this 
section shall be transferred to the Panama Canal Revolving Fund, and may 
be used to satisfy lawful obligations of the Revolving Fund arising on 
or before December 31, 1999.

(c) Continuity of Fund

    (1) Amounts in the Fund (including amounts transferred as a result 
of the final determination made under subsection (a) of this section) 
shall be maintained by the Secretary of the Treasury, shall be made 
available for transfer to the Employees' Compensation Fund in such 
amounts as are requested by the Secretary of Labor pursuant to section 
3715b of this title, and may be discontinued only in accordance with 
paragraph (2).
    (2) At such time as the Secretary of Labor certifies that no further 
liability exists for workers compensation benefits or other payments 
described in section 3715a(a) of this title, the Secretary of the 
Treasury may discontinue the Fund in the manner provided by law.

(Pub. L. 100-705, Sec. 5, Nov. 19, 1988, 102 Stat. 4686; Pub. L. 101-
510, div. C, title XXXV, Sec. 3507, Nov. 5, 1990, 104 Stat. 1847; Pub. 
L. 105-85, div. C, title XXXV, Sec. 3545, Nov. 18, 1997, 111 Stat. 
2072.)

                          Codification

    Section was enacted as part of the Panama Canal Commission 
Compensation Fund Act of 1988, and not as part of the Panama Canal Act 
of 1979 which comprises this chapter.


                               Amendments

    1997--Subsec. (a). Pub. L. 105-85 substituted ``By March 31, 1998'' 
for ``Upon the termination of the Panama Canal Commission''.
    1990--Pub. L. 101-510, Sec. 3507(1), struck out ``Upon the 
termination of the Panama Canal Commission:'' before subsec. (a).
    Subsec. (a). Pub. L. 101-510, Sec. 3507(2), substituted ``Upon the 
termination of the Panama Canal Commission, the Secretary of Labor'' for 
``The Secretary of Labor'' and struck out at end ``The Secretary of the 
Treasury shall, in accordance with such final determination, transfer 
from the Fund to the Employee Compensation Fund amounts sufficient to 
meet expenditures for workers compensation benefits and other payments 
described in section 3715a(a) of this title.''
    Subsec. (b). Pub. L. 101-510, Sec. 3507(3), inserted ``under 
subsection (a) of this section'' after ``Secretary of Labor'' and struck 
out ``Employees Compensation'' before ``Fund to make up''.
    Subsec. (c). Pub. L. 101-510, Sec. 3507(4), added subsec. (c).


                             Effective Date

    Section effective Oct. 1, 1988, see section 10 of Pub. L. 100-705, 
set out as an Effective Date of 1988 Amendment note under section 3612 
of this title.
