[FEDERAL] 'Leach National Y2K Assessment Bill'
'ITAA's Year 2000 Outlook
May 22, 1998 Volume 3, No. 20
Published by the Information Technology Association of America, Arlington, VA
Bob Cohen, Editor bcohen@itaa.org
Read in over 60 countries around the world
ITAA's Year 2000 Outlook is sponsored in part by CACI International Inc.,
DMR Consulting Group Inc., and Y2Kplus
Leach National Y2K Assessment Bill
Rep. James A. Leach (R-IA), Chairman of the House Banking and Financial Services
Committee, today announced the introduction of the "National Year 2000 Readiness
Act." The bill calls on the President's Year 2000 Conversion Council to submit
to Congress within 90 days a national assessment of the Year 2000 problem and
a comprehensive strategy for ensuring that critical national infrastructures in
banking and finance, energy, telecommunications, transportation, and vital human
services affecting public health, safety, water supply, and environment, are
ready for the transition to the Year 2000.
"It has become increasingly clear that the Year 2000 computer problem has
enormous economic implications for the economy," Leach said. ".Even if every
bank in the nation successfully repairs its own internal systems, our financial
system is still critically dependent on functioning telecommunications and
electrical power infrastructures to conduct business in January 2000. It is
disquieting to hear from the FDIC that although many bankers are trying to
assess the risks from such infrastructure providers, telephone and power
companies have not responded to their correspondence nor addressed the issue on
their Internet sites.
"It is important to public confidence and the continuity of critical public and
private services that a reliable assessment and a comprehensive strategy be put
together immediately. This bill will ensure that," Leach said.
In addition to the national assessment and strategy, the bill:
* Requires that the strategy include a plan for ensuring the availability of
an adequate supply of technical personnel in the private sector as well as in
government, and make recommendations on any need to raise immigrant visa
ceilings.
* Requires the strategy to include, in consultation with the Federal Reserve
and Treasury, the goals and strategies the United States will pursue to ensure
that foreign banks, as well as international financial institutions, are ready
for the Year 2000 transition, and to engage multilateral institutions in
providing funding or technical assistance to developing countries to address
their Year 2000 problems.
* Requires the Chairman of the President's Council on Year 2000 Conversion
to submit quarterly reports to Congress on the progress being made under that
strategy in all critical national infrastructures and in the development of
contingency plans.
* Provides that the Federal Acquisition Regulation may be revised to
disqualify for an appropriate period of time a federal contractor who knowingly
provides non-Y2K-compliant goods and services to federal agencies from receiving
any other federal contract. However, any such restrictions may be waived if new
goods and services are compliant.
The legislation is cosponsored by Ranking Member John LaFalce (D-NY),
subcommittee Chairmen Marge Roukema (R-NJ), Spencer Bachus (R-AL), Richard H.
Baker (R-LA), Michael Castle (R-DE) and Rick Lazio (R-NY), and Financial
Institutions subcommittee Ranking Member Bruce Vento (D-MN).
The National Year 2000 Readiness Act will be available in the bills section of
the Committee's website: www.house.gov/banking.
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