To amend the Panama Canal Act of 1979, and for other purposes.

[AI summary unavailable — showing source text] Amends the Panama Canal Act of 1979 to consent to the Administrator of the Panama Canal Commission accepting an appointment by the Government of Panama to the position of Administrator of the Panama Canal Authority, for which congressional consent is required under the Constitution. Requires as a term of such consent that such Administrator serve without compensation (except for travel and entertainment expenses). Exempts such Administrator from: (1) the Foreign Agents Registration Act of 1938; and (2) certain Federal conflict-of-interest provisions. Authorizes the Commission to offer and pay a transition separation incentive to a Commission employee if the Commission determines that such separation is necessary to the successful transfer of the Canal system from the United States to Panama. Requires the Commission, prior to obligating resources for such incentives, to submit to specified congressional committees a strategic plan outlining the intended use of such payments. Requires additional payments to the Civil Service Retirement and Disability Fund to cover early retirement expenses of such employees not currently provided for. Requires incentive payment forfeiture in the even…