Panama Canal Commission Authorization Act for Fiscal Year 1998

TABLE OF CONTENTS:

Subtitle A: Authorization of Appropriations

Subtitle B: Amendments to Panama Canal Act of 1979

Subtitle A: Authorization of Appropriations - Panama Canal Commission Authorization Act for Fiscal Year 1998 - Authorizes the Panama Canal Commission to make expenditures as necessary for the operation, maintenance, improvement, and administration of the Panama Canal for FY 1998. Makes funds available for the purchase, and transportation to Panama, of passenger motor vehicles (limiting the per vehicle purchase price to $22,000).

Subtitle B: Amendments to Panama Canal Act of 1979 - Panama Canal Act Amendments of 1979 (sic) - Amends the Panama Canal Act of 1979 to: (1) empower the Commission to appoint U.S. citizens as notaries public, and to conduct and promote commercial activities related to the management, operation, or maintenance of the Canal; (2) exempt Commission officers and employees from Federal post-employment restrictions following termination of their employment on December 31, 1999; (3) repeal certain Commission employee pay, travel and transportation provisions; (4) authorize the Administrator of the Commission to pay a bonus to a newly recruited employee or an employee who must relocate to accept a position (requires the employee to contract to complete a period of employment established by the Commission) and to pay a retention bonus to other employees under specified circumstances; (5) authorize the Commission (currently, the President) to regulate the Panama Canal Board of Appeals; (6) authorize use of the Panama Canal Revolving Fund to pay severance pay to Commission employees; (7) direct an executive agency (currently, the Commission) to enter into supplies and materials contracts and other transactions with the Republic of Panama; (8) provide a time limitation with respect to the filing of admiralty claims with the Commission; (9) authorize the Commission to establish toll rates for yachts using the Canal; (10) revise generally Federal provisions concerning retirement eligibility for Commission employees; and (11) authorize reserve and retired military personnel to accept employment with the Panama Canal Authority (the successor to the Commission).