Stabilization and Pacification of Southern Serbia Act

Stabilization and Pacification of Southern Serbia Act - Declares it is U.S. policy to: (1) promote dialog between representatives of the Albanian community of southern Serbia and the authorities of the Republic of Serbia and the Federal Republic of Yugoslavia aimed at addressing the concerns of both the ethnic Albanian residents of the region and those of the Serbian authorities; (2) address the deteriorating security situation in the Presevo valley of southern Serbia in conjunction with the North Atlantic Treaty Organization (NATO), the NATO-led international security force for Kosovo (KFOR), and the Serbian authorities; (3) urge the authorities of Yugoslavia and Serbia to work with the Government of the Former Yugoslav Republic of Macedonia to find agreement on a demarcation of the border between Serbia and Macedonia; (4) support efforts of Yugoslavia, Serbia, and Macedonia to maintain security along the agreed upon border; and (5) oppose any modification of the political status of the Province of Kosovo unless and until all ethnically motivated violence by Kosovo Albanians against Serbian residents of Kosovo has subsided, and all assistance by Kosovo residents to parties using violent means to further separatist aims in southern Serbia or Macedonia has ceased.

Prohibits the expenditure of certain economic support fund assistance (not including international narcotics control and law enforcement funds) for Kosovo after June 30, 2001, unless the President certifies to Congress that all concerned parties are taking steps to end the ethnically-motivated violence in southern Serbia, Kosovo, and Macedonia. Authorizes the President to waive the requirements of this Act if it is in the national interests of the United States.