Library of Congress Financial Management Act of 1999

Library of Congress Financial Management Act of 1999 - Title I: Library of Congress Revolving Fund - Authorizes the Librarian of Congress to: (1) establish Fund service units to carry out Fund service activities, including certain library, sales, and special event services as well as the preparation of research reports, translations, analytical studies, and related services for Federal Government entities; and (2) make the library products and services constituting such activities available for purchase adequate to recover related costs.

(Sec. 102) Specifies the Fund service activities that may be conducted by Fund Service units.

(Sec. 103) Establishes the Library of Congress Revolving Fund, to be made available to the Librarian without fiscal year limitation, for the conduct of Fund service activities. Limits the obligations for such activities for any fiscal year to the total amounts specified in appropriations Acts for such fiscal year.

Authorizes the Librarian, in the operation of Fund activities, to enter into: (1) contracts for the lease and acquisition of goods and services for a period that begins in one fiscal year and ends in the next fiscal year; and (2) multi-year contracts for the acquisition of property and services in the same manner and to the same extent as the head of an executive agency may enter into such contracts under provisions of the Federal Property and Administrative Services Act.

(Sec. 105) Repeals provisions of the Legislative Branch Appropriations Act, 1998 establishing the Cooperative Acquisitions Program Revolving Fund for financing a Library program to acquire foreign publications and research materials on behalf of participating institutions on a cost-recovery basis.

Title II: Cataloging Products and Services - Authorizes the Librarian of Congress to make cataloging products and services, created by the Library, available for purchase at prices that reflect as closely as practicable the cost of distribution over a reasonable period.

(Sec. 202) Repeals Federal law provisions that authorize the Librarian of Congress to sell copies of card indexes and other publications to institutions or individuals.

Title III: Library of Congress Trust Fund Board Amendments - Revises the composition of the Library of Congress Trust Fund Board to include the vice chair of the Joint Committee on the Library. Provides for a temporary extension of Board members' terms. Decreases from nine to seven members the Board's quorum for the transaction of business.