Arms Control Competitive and Economic Adjustment Commission Act of 1988

Summary

Arms Control Competitive and Economic Adjustment Commission Act of 1988 - Establishes an Arms Control Competitive and Economic Adjustment Commission. Requires the Commission to investigate, hear, and determine claims against the United States by any person who has suffered a competitive disadvantage in the actual or proposed procurement of goods or services by the United States or a serious economic injury as a result of the verification provisions of an arms control agreement. Allows a claim to be filed with the Commission at any time within one year of the date such competitive disadvantage or injury was or should reasonably have been discovered. Specifies the form and content of such claim. Sets forth procedures for the investigation, hearing, and determination of claims by the Commission. Sets forth factors to be considered in determining the appropriate remedy for such competitive disadvantage or serious economic injury. Lists possible remedies, including: (1) compensation equal to the economic loss, including the loss of profits (or the loss of tax revenues for a State or local government), sustained by the claimant; (2) compensation equal to the capital investment made by the claimant in the reasonable expectation that it or another party would be awarded a contract for the goods or services in question or would have the opportunity to compete for such contract; (3) compensation equal to the amount necessary to enable the claimant to reduce or eliminate the competitive disadvantage or serious economic injury as a result of the verification provisions of an arms control agreement; and (4) in the case of a claimant who is a Government contractor, a recommendation to the President that the claimant be given a countervailing competitive advantage in the award of or competition for Government contracts of equivalent value. Provides for judicial review of Commission action and determinations. Directs the Commission to submit annual reports to the President and the Congress on: (1) the effects of verification provisions of an arms control agreements on State and local governments, businesses, organizations, and individuals; (2) the resulting adjustments by such entities; (3) the effectiveness of the Commission in assisting such entities in making such adjustments; (4) statutory revisions which would increase the Commission's effectiveness; and (5) the findings made and remedies granted by the Commission on claims submitted. Authorizes appropriations.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 22 February 1988

   Introduced

   Read twice and referred to the Committee on Judiciary.

   Source: IntroReferral

2. 22 February 1988

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 22 February 1988

  Open at official source

Sponsors

• Sen. Hatch, Orrin G. [R-UT] · R · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• · ssju00 · Standing

Related records

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