Amendment102nd Congress
An amendment which specifies the manner in which the bill's authorization in the amount of $1 billion for economic conversion purposes is to be spent. The amendment requires OMB to determine that the $1 billion earmarked by the amendment would be scored as defense spending under the 1990 budget agreement; creates an Assistant Secretary of Defense for Reinvestment to supervise the economic reinvestment activities; and authorizes funds for programs in several areas.
- Amendment Number
- 587
- Description
- An amendment which specifies the manner in which the bill's authorization in the amount of $1 billion for economic conversion purposes is to be spent. The amendment requires OMB to determine that the $1 billion earmarked by the amendment would be scored as defense spending under the 1990 budget agreement; creates an Assistant Secretary of Defense for Reinvestment to supervise the economic reinvestment activities; and authorizes funds for programs in several areas.
- Purpose
- Amendment authorizes $1 billion for economic conversion of defense activities. Its purpose is to: (1) help defense businesses grow in civilian markets by giving them access to dual use technology, promoting commercialization, and providing venture capital; (2) provide additional job training assistance for civilian workers and military personnel; and (3) assist local communities impacted by defense reductions.
- Congress
- 102
- Type
- HAMDT
- Latest Action Date
- Jun 4, 1992
- Latest Action Text
- On agreeing to the Frost amendment (A012) Agreed to by recorded vote: 275 - 105 (Roll no. 166).
- Latest Action Time
- 19:45:02
- Submitted Date
- Jun 4, 1992
- Chamber
- House of Representatives
- Update Date
- Jul 10, 2021