A bill 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 permit the President or Secretary of Defense to delegate to another U.S. official the authority vested in them by such Act. Prohibits further delegation of such authority. Authorizes payment of a housing allowance in lieu of specified additional compensation available for certain Federal employees in the Panama Canal Zone. Amends the provisions relating to hours of work for Federal employees to make Good Friday and November 3, Panamanian Independence Day, legal public holidays for Panama Canal Commission employees who are stationed in the Republic of Panama. Makes the Panama Canal Zone a foreign area for purposes of overseas differentials and allowances for Federal employees. Amends the Panama Canal Act of 1979 to retain the minimum annual pay increase for certain Federal employees stationed in the Republic of Panama. Authorizes the use of regulations issued pursuant to the Accounting and Auditing Act of 1950 to provide for the depreciation of certain Canal assets that need replacement. Revises the provisions requiring an annual audit of the Commission's financial transactions by the U.S. Comptroller General. Provides for collection of amounts…