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(2) to acquire by purchase or exchange any real

or personal property or interest therein;

(3) unless otherwise required by the instrument of transfer, to sell, donate, lease, invest, reinvest, re

tain, or otherwise dispose of any property or income therefrom;

(4) to borrow money and issue bonds, debentures, or other debt instruments;

(5) to sue and be sued, and complain and defend itself in any court of competent jurisdiction, except that the Directors of the Board shall not be personally liable, except for gross negligence;

(6) to enter into contracts or other arrangements with public agencies and private organizations and persons and to make such payments as may be

necessary to carry out its functions; and

(7) to do any and all acts necessary and proper

to carry out the purposes of the Foundation.

19 A gift, devise, or bequest may be accepted by the Founda20 tion even though it is encumbered, restricted, or subject 21 to beneficial interests of private persons, if any current 22 or future interest therein is for the benefit of the Founda

23 tion.

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1 SEC. 205. ADMINISTRATIVE SERVICES AND SUPPORT.

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The Librarian may provide personnel, facilities, and 3 other administrative services to the Foundation, including 4 reimbursement of expenses under section 203, not to ex5 ceed the current per diem rates for the Federal Govern6 ment, and may accept reimbursement therefor. Amounts 7 so reimbursed shall be deposited in the Treasury to the 8 credit of the appropriations then current and chargeable 9 for the cost of providing such services.

10 SEC. 206. VOLUNTEER STATUS.

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The Librarian may accept, without regard to the civil 12 service classification laws, rules, or regulations, the serv13 ices of the Foundation, the Board, and other officers and 14 employees of the Board, without compensation from the 15 Library of Congress, as volunteers in the performance of 16 the functions authorized in this title.

17 SEC. 207. AUDITS, REPORT REQUIREMENTS, AND PETITION OF ATTORNEY GENERAL, FOR EQUITABLE

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RELIEF.

(a) AUDITS.-The Foundation shall be treated as a

21 private corporation established under Federal law for pur22 poses of the Act entitled "An Act to provide for audit of 23 accounts of private corporations established under Federal 24 law.", approved August 30, 1964 (36 U.S.C. 1101-1103). 25 (b) REPORT.-The Foundation shall, as soon as prac26 ticable after the end of each fiscal year, transmit to the

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1 Congress a report of its proceedings and activities during

2 such year, including a full and complete statement of its

3 receipts, expenditures, and investments.

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(c) RELIEF WITH RESPECT TO CERTAIN FOUNDA5 TION ACTS OR FAILURE TO ACT.-If the Foundation

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(1) engages in, or threatens to engage in, any act, practice, or policy that is inconsistent with its

purposes set forth in section 202(b), or

(2) refuses, fails, or neglects to discharge its obligations under this title, or threatens to do so,

11 the Attorney General of the United States may file a peti12 tion in the United States District Court for the District 13 of Columbia for such equitable relief as may be necessary 14 or appropriate.

15 SEC. 208. UNITED STATES RELEASE FROM LIABILITY.

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The United States shall not be liable for any debts,

17 defaults, acts, or omissions of the Foundation, nor shall 18 the full faith and credit of the United States extend to 19 any obligation of the Foundation.

20 SEC. 209. AUTHORIZATION OF APPROPRIATIONS.

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(a) AUTHORIZATION.-There are authorized to be ap22 propriated to the Library of Congress not to exceed 23 $2,000,000 for each of the fiscal years 1996 through 24 2005, to be made available to the Foundation to match. 25 private contributions (whether in currency, services, or

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1 property) made to the Foundation by private persons and

2 State and local governments.

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(b) ADMINISTRATIVE EXPENSES.-No Federal funds 4 authorized under this section may be used by the Founda5 tion for administrative expenses of the Foundation, includ6 ing for salaries, travel, and transportation expenses, and 7 other overhead expenses.

Mr. MOORHEAD. This morning, the ranking minority member of the full committee, Mr. Conyers, is on his way. I left him just a few minutes ago. And he will have, I am sure, an opening statement. But in the meanwhile, our good friend, Howard Berman, who represents a district very much involved in the film industry, just to the west of my district, is here this morning and I am sure he has an opening statement.

Mr. BERMAN. Well, it is true I represent a district which has a lot of people that work in the film industry and in the entertainment industry generally. And the only thing I don't have is an opening statement. But I do appreciate the hearing on these important issues.

We have been talking about a lot of them for a long time. And it is also very nice to have a hearing so close to home. And so I thank you, Mr. Chairman, for scheduling the hearing. And I will be active in the question periods, but I don't have anything particularly to add right now.

Mr. MOORHEAD. Another member that is here, and actually the first member that arrived here, was Xavier Becerra, who represents the district just to the south of us here. He only lives 3 miles from this courthouse.

Mr. BECERRA. Mr. Chairman, I am pleased that you scheduled the hearing 3 miles from my house. It is a lot better than scheduling them 2,500 miles from my house. And I will just associate myself with all the remarks made by my colleague, Mr. Berman, and leave my opening statement as that.

Mr. MOORHEAD. This morning, we have a very distinguished panel before us. Our first witness will be Mr. Jack Valenti, who is the president of the Motion Picture Association of America. I have had the pleasure of working with him on many occasions.

Mr. Valenti is a graduate of the University of Houston and Harvard Business School. He cofounded the advertising and political consulting agency of Weekly & Valenti. He served as Special Assistant to the President in Lyndon Johnson's White House and became the third president and CEO of the MPAA in 1966.

Since that time, Mr. Valenti has presided over many changes in the film industry and has authored numerous books and essays. We welcome Mr. Valenti.

I am going to introduce the other three, and then I will have you come on first.

Our second witness will be Ms. Marilyn Bergman, who is the president and chairman of the American Society of Composers Authors and Publishers, or ASCAP.

Ms. Bergman is a three-time Academy Award winner, a two-time Grammy Award winner, and a two-time Emmy Award winner; all of those awards.

She was introduced into the Song Writers Hall of Fame in 1979. She and her husband, Alan Bergman, are one of the most respected song writing teams in music today. Ms. Bergman is a graduate of New York's high school of music and art and of New York University.

In 1985, she became the first woman to be elected to the board of directors of ASCAP. Ms. Bergman is a member of the executive