PUBLIC LAW 97-357—OCT. 19, 1982 "(b) The Governors of Guam and the Virgin Islands shall, as a condition for a grant pursuant to subsection (a) of this section, submit a plan which is designed to eliminate the respective territory's general fund deficit by the beginning of fiscal year 1987 to the Secretary of the Interior. Within sixty days after he has received such a plan, the Secretary of the Interior shall transmit the plan, together with his comments and recommendations to the Congress. The plan shall provide for— "(1) implementation of an effective budgetary and accounting system; "(2) realistic revenue and expenditure projections which will progressively reduce current year general fund deficits and result in a balanced general fund budget no later than the beginning of fiscal year 1987; "(3) financing of accumulated general fund deficits; and "(4) quarterly goals and timetables for implementing the plan. The plan shall also indicate that the Governor has the necessary authority to implement the plan. "(c) Not later than thirty days after the close of each quarter which occurs after the plan has been transmitted to the Congress, the respective Governor shall submit a report to the Secretary of the Interior and the Congress describing in detail the success or failure of such territory in meeting the goals and timetables described in such plan.". Approved October 19, 1982.
LEGISLATIVE HISTORY—H.R. 5139: HOUSE REPORT No. 97-387 (Comm. on Interior and Insular Affairs). SENATE REPORT No. 97-372 (Comm. on Energy and Natural Resources). CONGRESSIONAL RECORD: Vol. 127 (1981): Dec. 11, considered and passed House. Vol. 128 (1982): May 10, considered and passed Senate, amended. Sept. 9, House concurred in Senate amendment with an amendment. Sept. 30, Senate concurred in House amendment with amendments. Oct. 1, House concurred in Senate amendments.
96 STAT. 1713 Plan, submittal to Secretary of Interior and Congress.
Report to Secretary of Interior and Congress.
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