Binational Great Lakes-Seaway Enhancement Act of 1998

TABLE OF CONTENTS:

Title I: Saint Lawrence Seaway Corporation

Title II: Great Lakes Development Bank

Binational Great Lakes-Seaway Enhancement Act of 1998 - Authorizes the President to enter into an executive agreement with Canada to establish as binational corporations the Saint Lawrence Seaway Corporation and the Great Lakes Development Bank. Sets forth certain guiding negotiating principles with respect to such agreement, including: (1) improvement of operational coordination among assets of the United States and Canada on the Saint Lawrence Seaway; (2) assurance of navigational safety on the Seaway; and (3) enhancement of the competitiveness of the Seaway as a transportation route for world trade. Requires presidential approval and congressional review of the agreement.

Title I: Saint Lawrence Seaway Corporation - Sets forth the functions of the Corporation, including to: (1) operate and improve the assets of the United States and Canada on the Saint Lawrence Seaway; (2) facilitate safe navigation on the Seaway; and (3) promote domestic and international trade involving the Great Lakes States and Great Lakes Provinces.

(Sec. 105) Provides for: (1) Corporation adoption of all labor agreements involving Saint Lawrence Seaway Development Corporation (SLSDC) employees; (2) termination rights of SLSDC employees; (3) basic pay for SLSDC employees; and (4) SLSDC employee health and retirement benefits.

(Sec. 111) Declares that all SLSDC regulations, and rights and responsibilities of SLSDC under the agreement, shall continue and become a part of the Corporation.

(Sec. 114) Repeals the Saint Lawrence Seaway Act (effectively eliminating the Saint Lawrence Seaway Development Corporation).

(Sec. 115) Authorizes appropriations.

Title II: Great Lakes Development Bank - Sets forth the functions of the Great Lakes Development Bank, including to: (1) provide loans and other assistance to the Seaway and public and private entities that are involved in maritime commerce in the Great Lakes and Seaway regions; and (2) facilitate maritime commerce-related investment there.

(Sec. 212) Prohibits the United States from subscribing to shares of capital stock of the Bank. Authorizes the Secretary of Transportation, subject to advance appropriations, to make direct loans to the Bank.

(Sec. 216) Grants U.S. district courts original and exclusive jurisdiction over civil actions brought in the United States by or against the Bank.

(Sec. 218) Authorizes appropriations.