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A bill to amend the Panama Canal Act of 1979 with respect to the payment of interest on the investment of the United States.

Public Law 99-195 · H.R. 664 · 99th Congress · began in the House

Signed by Ronald Reagan (R) on Dec 23, 1985 · Government Operations and Politics

Sponsor: Rep. Jack Fields (R-TX-8)

Cosponsors (4): Rep. Walter Jones,

Passage votes

  • HouseVoice vote
  • SenateVoice vote
Data notes

The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.

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Summary

The Congressional Research Service’s plain-language summary of what the law does.

Amends the Panama Canal Act of 1979 to require that the part of the receipts of the Panama Canal Commission that covers interest on the U.S. investment in the Panama Canal shall be deposited in the Treasury as miscellaneous receipts.

Committees

The committees the bill was sent to, and what each did with it.

  • Merchant Marine and Fisheries Committee · House · markup by, referred to, reported bySubcommittee: Panama Canal and Outer Continental Shelf Subcommittee
  • Armed Services Committee · Senate · hearings by (full committee), markup by, referred to, reported by
Data notes

A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.

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Timeline

From introduction to signing, newest first: the committees, the floor and the president. 16 actions.

  1. Dec 23, 1985Became lawBecame law · Became Public Law No: 99-195.
  2. Became lawBecame law · Signed by President.
  3. Dec 13, 1985PresidentPresident · Presented to President.
  4. Dec 11, 1985FloorFloor · Passed Senate without amendment by Voice Vote.
  5. Dec 3, 1985CommitteeCommittee · Reported by Senate Armed Services Committee
  6. Nov 5, 1985CommitteeCommittee · Markup by Senate Armed Services Committee
  7. Sep 19, 1985CommitteeCommittee · Hearings by Senate Armed Services Committee
  8. May 7, 1985CommitteeCommittee · Referred to Senate Armed Services Committee
  9. May 6, 1985FloorFloor · Passed House by Voice Vote.
  10. Apr 22, 1985CommitteeCommittee · Reported by House Merchant Marine and Fisheries Committee
  11. Apr 16, 1985CommitteeCommittee · Markup by House Merchant Marine and Fisheries Committee
  12. Apr 3, 1985CommitteeCommittee · Reported by Panama Canal and Outer Continental Shelf Subcommittee of the House Merchant Marine and Fisheries Committee
  13. CommitteeCommittee · Markup by Panama Canal and Outer Continental Shelf Subcommittee of the House Merchant Marine and Fisheries Committee
  14. Jan 30, 1985CommitteeCommittee · Referred to Panama Canal and Outer Continental Shelf Subcommittee of the House Merchant Marine and Fisheries Committee
  15. Jan 24, 1985CommitteeCommittee · Referred to House Merchant Marine and Fisheries Committee
  16. IntroducedIntroduced · Introduced in the House
Data notes

Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.

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Official record

The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.