House Banking Committee Chairman Jim Leach introduced bipartisan legislation last week that would require the Clinton administration to assess the country's readiness for the year-2000 computer problem.

Under the bill, the President's Council on Year 2000 Conversion would have to submit a report in 90 days with recommendations on how to make sure the financial, telecommunications, and five other key economic sectors are prepared for the looming computer glitch. The council then would have to give Congress quarterly progress reports.

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