S.Amdt. 4910

SA 4910. Mr. MENENDEZ submitted an amendment intended to be proposed
by him to the bill S. 2328, to reauthorize and amend the National Sea
Grant College Program Act, and for other purposes; which was ordered to
lie on the table; as follows:

Strike section 209 and insert the following:

SEC. 209. TERMINATION OF BOARD.

A Board shall terminate on certification by the Board
that--
(1) the Board has been in operation for not less than 3
years and the applicable territorial government has adequate
access, on an unsecured basis, to short-term and long-term
credit markets at reasonable interest rates to meet the
borrowing needs of the territorial government using a
compliant budget; or
(2) for not less than 3 consecutive fiscal years prior to
the certification, the expenditures made by the applicable
territorial government for each fiscal year did not exceed
the revenues of the territorial government during that fiscal
year, using a compliant budget.
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