To approve the determination of the President that Colombia is a major illicit drug producing country and/or a major drug-transit country and has failed to fully cooperate with the U.S. in its anti-narcotic efforts, and to provide for a waiver of the requirement to withhold United States assistance for Colombia for fiscal year 1997 pursuant to that determination.

Approves the President's determination pursuant to the Foreign Assistance Act of 1961 that Colombia is a major illicit drug producing country or a major drug-transit country and has failed to cooperate with the United States in its anti-narcotic efforts.

Waives the requirement to withhold U.S. assistance and to vote against multilateral development bank assistance with respect to Colombia until March 1, 1998, if the President certifies to the Congress that vital U.S. national interests require such a waiver.