; (2) the date on which Congress, by statute, terminates the emergency; (3) the date on which the President issues a proclamation terminating the emergency; or (4) the date provided for in section 201(d). (b) Effect of termination (1) In general Effective on the date of the termination of a national emergency under subsection (a)— (A) except as provided by paragraph (2), any powers or authorities exercised by reason of the emergency shall cease to be exercised; (B) any amounts reprogrammed or transferred under any provision of law with respect to the emergency that remain unobligated on that date shall be returned and made available for the purpose for which such amounts were appropriated; and (C) any contracts entered into under any provision of law for construction relating to the emergency shall be terminated unless construction commenced under the contract before that date. (2) Savings provision Except as specifically provided in subparagraph (B) or (C) of paragraph (1), the termination of a national emergency shall not affect— (A) any action taken or proceeding pending not finally concluded or determined on the date of the termination under subsection (a); (B) any action or proceeding based on any act committed prior to that date; or (C) any rights or duties that matured or penalties that were incurred prior to that date. . 4. Review by Congress of national emergencies Title II of the National Emergencies Act ( 50 U.S.C. 1621 et seq.) is amended by adding at the end the following: 203. Review by Congress of national emergencies (a) Joint resolutions of approval (1) Joint resolution of approval defined For purposes of this section, the term joint resolution of approval means a joint resolution that contains only the following provisions after its resolving clause— (A) a provision approving— (i) a proclamation of a national emergency made under section 201(a); (ii) an Executive order issued under section 201(b)(2); or (iii) an Executive order issued under section 201(d)