I 

108TH CONGRESS 

1ST SESSION H. R. 1721

To amend the Foreign Assistance Act of 1961 to provide for debt relief 

to developing countries who take action to protect critical coral reef habitats. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 10, 2003

Mr. KIRK (for himself, Mr. PORTMAN, Mr. LIPINSKI, Mr. GREENWOOD, Mr. 

CROWLEY, Mrs. JOHNSON of Connecticut, Mr. ACEVEDO-VILA ́, Mr. 

EHLERS, Mr. HASTINGS of Florida, Ms. BORDALLO, and Mr. 

BLUMENAUER) introduced the following bill; which was referred to the 

Committee on International Relations 

A BILL

To amend the Foreign Assistance Act of 1961 to provide 

for debt relief to developing countries who take action 

to protect critical coral reef habitats.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. DEBT REDUCTION FOR DEVELOPING COUN4 TRIES WITH CORAL REEFS AND OTHER 

5 COASTAL MARINE RESOURCES. 

6 The Foreign Assistance Act of 1961 (22 U.S.C. 2151 

7 et seq.) is amended by adding at the end the following: 
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1 ‘‘PART VI—DEBT REDUCTION FOR DEVELOPING 

2 COUNTRIES WITH CORAL REEFS AND OTHER 

3 COASTAL MARINE RESOURCES 

4 ‘‘SEC. 901. SHORT TITLE. 

5 ‘‘This part may be cited as the ‘Coral Reef and 

6 Coastal Marine Conservation Act of 2003’. 

7 ‘‘SEC. 902. FINDINGS AND PURPOSES. 

8 ‘‘(a) FINDINGS.—The Congress finds the following: 

9 ‘‘(1) It is the established policy of the United 

10 States to support and seek the protection and res11 toration of natural coastal marine areas, in par12 ticular coral reefs and other critically imperiled 

13 coastal marine resources around the world, as dem14 onstrated by the establishment of the United States 

15 Government’s Coral Reef Task Force under Execu16 tive Order 13089 (June 11, 1998) and by the em17 phasis given to coral reefs at the Conference on 

18 Oceans held in Monterey, California. 

19 ‘‘(2) Coral reefs and other coastal marine re20 sources provide a wide range of benefits to mankind 

21 by—

22 ‘‘(A) harboring a major share of the 

23 world’s marine biological diversity, and by act24 ing as seed-grounds and nurseries for many 

25 deep-sea species; and 
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1 ‘‘(B) serving as the basis for major activi2 ties of critical economic, social, and cultural im3 portance, including fishing, pharmaceutical re4 search, recreation, tourism, and the natural pu5 rification and recharge of waters. 

6 ‘‘(3) International organizations and assistance 

7 programs to conserve coral reefs and other coastal 

8 marine resources have proliferated in recent years, 

9 but the rapid destruction of these resources nonethe10 less continues in many countries. 

11 ‘‘(4) Poverty and economic pressures on many 

12 developing countries, including the burden of official 

13 debts, has promoted inefficient, unsustainable over14 exploitation of coral reefs and other coastal marine 

15 resources, while also denying necessary funds to pro16 tection efforts. 

17 ‘‘(5) Reduction of official, government-to-gov18 ernment debts can help reduce economic pressures 

19 for over-exploitation of coral reefs and other coastal 

20 marine resources and can mobilize additional re21 sources for their protection. 

22 ‘‘(b) PURPOSES.—The purposes of this part are—

23 ‘‘(1) to recognize the values received by United 

24 States citizens from protection of coral reefs and 

25 other coastal marine resources; 
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1 ‘‘(2) to facilitate greater protection of remain2 ing coral reefs and other coastal marine resources, 

3 and the recovery of damaged areas, by providing for 

4 the alleviation of debt in countries where these re5 sources are located, thus allowing for the use of ad6 ditional resources to protect and restore such coral 

7 reefs and other coastal marine resources, and to re8 duce economic pressures that have led to 

9 unsustainable exploitation; and 

10 ‘‘(3) to ensure that resources freed from debt in 

11 such countries are rechanneled to protection of coral 

12 reefs and other coastal marine resources. 

13 ‘‘SEC. 903. DEFINITIONS. 

14 ‘‘In this part: 

15 ‘‘(1) ADMINISTERING BODY.—The term ‘admin16 istering body’ means the entity provided for in sec17 tion 908(c). 

18 ‘‘(2) APPROPRIATE CONGRESSIONAL COMMIT19 TEES.—The term ‘appropriate congressional com20 mittees’ means—

21 ‘‘(A) the Committee on International Rela22 tions and the Committee on Appropriations of 

23 the House of Representatives; and 
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1 ‘‘(B) the Committee on Foreign Relations 

2 and the Committee on Appropriations of the 

3 Senate. 

4 ‘‘(3) BENEFICIARY COUNTRY.—The term ‘bene5 ficiary country’ means an eligible country with re6 spect to which the authority of section 906(a) or 

7 paragraph (1) or (2) of section 907(a) of this part 

8 is exercised. 

9 ‘‘(4) BOARD.—The term ‘Board’ means the 

10 board referred to in section 910. 

11 ‘‘(5) CORAL.—The term ‘coral’ means species 

12 of the phylum Cnidaria, including—

13 ‘‘(A) all species of the orders Antipatharia 

14 (black corals), Scleractinia (stony corals), 

15 Alcyonacea (soft corals), Gorgonacea (horny 

16 corals), Stolonifera (organpipe corals and oth17 ers), and Coenothecalia (blue coral), of the class 

18 Anthozoa; and 

19 ‘‘(B) all species of the order 

20 Hydrocorallina (fire corals and hydrocorals) of 

21 the class Hydrozoa.

22 ‘‘(6) CORAL REEF.—The term ‘coral reef’ 

23 means any reef or shoal composed primarily of cor24 als. 
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1 ‘‘(7) DEVELOPING COUNTRY WITH A CORAL

2 REEF OR OTHER COASTAL MARINE RESOURCE.—The 

3 term ‘developing country with a coral reef or other 

4 coastal marine resource’ means—

5 ‘‘(A)(i) a country that has a per capita in6 come of $725 or less in 1994 United States dol7 lars (commonly referred to as ‘low-income coun8 try’), as determined and adjusted on an annual 

9 basis by the International Bank for Reconstruc10 tion and Development in its World Development 

11 Report; or 

12 ‘‘(ii) a country that has a per capita in13 come of more than $725 but less than $8,956 

14 in 1994 United States dollars (commonly re15 ferred to as ‘middle-income country’), as deter16 mined and adjusted on an annual basis by the 

17 International Bank for Reconstruction and De18 velopment in its World Development Report; 

19 and 

20 ‘‘(B) a country that contains at least one 

21 coral reef or other coastal marine resource that 

22 is of conservation concern. 

23 ‘‘(8) ELIGIBLE COUNTRY.—The term ‘eligible 

24 country’ means a country designated by the Presi25 dent in accordance with section 905. 
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1 ‘‘(9) CORAL REEF AND OTHER COASTAL MA2 RINE RESOURCES AGREEMENT.—The term ‘Coral 

3 Reef and Other Coastal Marine Resources Agree4 ment’ or ‘Agreement’ means an Coral Reef and 

5 Other Coastal Marine Resources Agreement as pro6 vided for in section 908. 

7 ‘‘(10) CORAL REEF AND OTHER COASTAL MA8 RINE RESOURCES FACILITY.—The term ‘Coral Reef 

9 and Other Coastal Marine Resources Facility’ or 

10 ‘Facility’ means the Coral Reef and Other Coastal 

11 Marine Resources Facility established in the Depart12 ment of the Treasury by section 904. 

13 ‘‘(11) CORAL REEF AND OTHER COASTAL MA14 RINE RESOURCES FUND.—The term ‘Coral Reef and 

15 Other Coastal Marine Resources Fund’ or ‘Fund’ 

16 means a Coral Reef and Other Coastal Marine Re17 sources Fund provided for in section 909. 

18 ‘‘SEC. 904. ESTABLISHMENT OF THE FACILITY. 

19 ‘‘There is established in the Department of the 

20 Treasury an entity to be known as the ‘Coral Reef and 

21 Other Coastal Marine Resources Facility’ for the purpose 

22 of providing for the administration of debt reduction in 

23 accordance with this part. 
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1 ‘‘SEC. 905. ELIGIBILITY FOR BENEFITS. 

2 ‘‘(a) IN GENERAL.—To be eligible for benefits from 

3 the Facility under this part, a country shall be a devel4 oping country with a coral reef or other coastal marine 

5 resource—

6 ‘‘(1) the government of which meets the re7 quirements applicable to Latin American or Carib8 bean countries under paragraphs (1) through (5) 

9 and (7) of section 703(a) of this Act; and 

10 ‘‘(2) that has established investment reforms, 

11 as evidenced by the conclusion of a bilateral invest12 ment treaty with the United States, implementation 

13 of an investment sector loan with the Inter-Amer14 ican Development Bank, World Bank-supported in15 vestment reforms, or other measures, as appropriate. 

16 ‘‘(b) ELIGIBILITY DETERMINATIONS.—

17 ‘‘(1) IN GENERAL.—Consistent with subsection 

18 (a), the President shall determine whether a country 

19 is eligible to receive benefits under this part. 

20 ‘‘(2) CONGRESSIONAL NOTIFICATION.—The 

21 President shall notify the appropriate congressional 

22 committees of the intention of the President to des23 ignate a country as an eligible country at least 15 

24 days in advance of any formal determination. 
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1 ‘‘SEC. 906. REDUCTION OF DEBT OWED TO THE UNITED 

2 STATES AS A RESULT OF CONCESSIONAL 

3 LOANS UNDER THIS ACT. 

4 ‘‘(a) AUTHORITY TO REDUCE DEBT.—

5 ‘‘(1) AUTHORITY.—The President may reduce 

6 the amount owed to the United States (or any agen7 cy of the United States) that is outstanding as of 

8 January 1, 2003, as a result of concessional loans 

9 made to an eligible country by the United States 

10 under this Act or predecessor foreign economic as11 sistance legislation. 

12 ‘‘(2) AUTHORIZATION OF APPROPRIATIONS.—

13 For the cost (as defined in section 502(5) of the 

14 Federal Credit Reform Act of 1990) for the reduc15 tion of any debt pursuant to this section, there are 

16 authorized to be appropriated to the President 

17 $10,000,000 for each of the fiscal years 2004 

18 through 2007. 

19 ‘‘(3) CERTAIN PROHIBITIONS INAPPLICABLE.—

20 ‘‘(A) IN GENERAL.—A reduction of debt 

21 pursuant to this section shall not be considered 

22 assistance for purposes of any provision of law 

23 limiting assistance to a country. 

24 ‘‘(B) ADDITIONAL REQUIREMENT.—The 

25 authority of this section may be exercised not26 withstanding section 620(r) of this Act or sec-
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1 tion 321 of the International Development and 

2 Food Assistance Act of 1975. 

3 ‘‘(b) IMPLEMENTATION OF DEBT REDUCTION.—

4 ‘‘(1) IN GENERAL.—Any debt reduction pursu5 ant to subsection (a) shall be accomplished at the di6 rection of the Facility by the exchange of a new obli7 gation for obligations of the type referred to in sub8 section (a) outstanding as of the date specified in 

9 subsection (a)(1). 

10 ‘‘(2) EXCHANGE OF OBLIGATIONS.—

11 ‘‘(A) IN GENERAL.—The Facility shall no12 tify the United States Agency for International 

13 Development of an agreement entered into 

14 under paragraph (1) with an eligible country to 

15 exchange a new obligation for outstanding obli16 gations. 

17 ‘‘(B) ADDITIONAL REQUIREMENT.—At the 

18 direction of the Facility, the old obligations that 

19 are the subject of the agreement shall be can20 celed and a new debt obligation for the country 

21 shall be established relating to the agreement, 

22 and the United States Agency for International

23 Development shall make an adjustment in its 

24 accounts to reflect the debt reduction. 
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1 ‘‘(c) ADDITIONAL TERMS AND CONDITIONS.—The 

2 following additional terms and conditions shall apply to 

3 the reduction of debt under subsection (a)(1) in the same 

4 manner as such terms and conditions apply to the reduc5 tion of debt under section 704(a)(1) of this Act: 

6 ‘‘(1) The provisions relating to repayment of 

7 principal under section 705 of this Act. 

8 ‘‘(2) The provisions relating to interest on new 

9 obligations under section 706 of this Act. 

10 ‘‘SEC. 907. AUTHORITY TO ENGAGE IN DEBT-FOR-NATURE 

11 SWAPS AND DEBT BUYBACKS. 

12 ‘‘(a) LOANS AND CREDITS ELIGIBLE FOR SALE, RE13 DUCTION, OR CANCELLATION.—

14 ‘‘(1) DEBT-FOR-NATURE SWAPS.—

15 ‘‘(A) IN GENERAL.—Notwithstanding any 

16 other provision of law, the President may, in 

17 accordance with this section, sell to any eligible 

18 purchaser described in subparagraph (B) any 

19 concessional loans described in section 

20 906(a)(1), or on receipt of payment from an eli21 gible purchaser described in subparagraph (B), 

22 reduce or cancel such loans or portion thereof, 

23 only for the purpose of facilitating a debt-for24 nature swap to support eligible activities de25 scribed in section 908(d). 
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1 ‘‘(B) ELIGIBLE PURCHASER DESCRIBED.—

2 A loan may be sold, reduced, or canceled under 

3 subparagraph (A) only to a purchaser who pre4 sents plans satisfactory to the President for 

5 using the loan for the purpose of engaging in 

6 debt-for-nature swaps to support eligible activi7 ties described in section 908(d). 

8 ‘‘(C) CONSULTATION REQUIREMENT.—Be9 fore the sale under subparagraph (A) to any eli10 gible purchaser described in subparagraph (B), 

11 or any reduction or cancellation under such 

12 subparagraph (A), of any loan made to an eligi13 ble country, the President shall consult with the 

14 country concerning the amount of loans to be 

15 sold, reduced, or canceled and their uses for 

16 debt-for-nature swaps to support eligible activi17 ties described in section 908(d). 

18 ‘‘(D) AUTHORIZATION OF APPROPRIA19 TIONS.—For the cost (as defined in section 

20 502(5) of the Federal Credit Reform Act of 

21 1990) for the reduction of any debt pursuant to 

22 subparagraph (A), amounts authorized to be 

23 appropriated under section 906(a)(2) shall be 

24 made available for such reduction of debt pur25 suant to subparagraph (A). 
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1 ‘‘(2) DEBT BUYBACKS.—Notwithstanding any 

2 other provision of law, the President may, in accord3 ance with this section, sell to any eligible country 

4 any concessional loans described in section 

5 906(a)(1), or on receipt of payment from an eligible 

6 purchaser described in paragraph (1)(B), reduce or 

7 cancel such loans or portion thereof, only for the 

8 purpose of facilitating a debt buyback by an eligible 

9 country of its own qualified debt, only if the eligible 

10 country uses an additional amount of the local cur11 rency of the eligible country, equal to not less than 

12 the lessor of 40 percent of the price paid for such 

13 debt by such eligible country, or the difference be14 tween the price paid for such debt and the face value 

15 of such debt, to support eligible activities described 

16 in section 908(d). 

17 ‘‘(3) LIMITATION.—The authority provided by 

18 paragraphs (1) and (2) shall be available only to the 

19 extent that appropriations for the cost (as defined in 

20 section 502(5) of the Federal Credit Reform Act of 

21 1990) of the modification of any debt pursuant to 

22 such paragraphs are made in advance. 

23 ‘‘(4) TERMS AND CONDITIONS.—Notwith24 standing any other provision of law, the President 

25 shall, in accordance with this section, establish the 
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1 terms and conditions under which loans may be sold, 

2 reduced, or canceled pursuant to this section. 

3 ‘‘(5) ADMINISTRATION.—

4 ‘‘(A) IN GENERAL.—The Facility shall no5 tify the Administrator of the United States 

6 Agency for International Development of eligi7 ble purchasers described in paragraph (1)(B) 

8 that the President has determined to be eligible 

9 under paragraph (1), and shall direct such 

10 agency to carry out the sale, reduction, or can11 cellation of a loan pursuant to such paragraph. 

12 ‘‘(B) ADDITIONAL REQUIREMENT.—Such 

13 agency shall make an adjustment in its ac14 counts to reflect the sale, reduction, or cancella15 tion of such a loan. 

16 ‘‘(b) DEPOSIT OF PROCEEDS.—The proceeds from 

17 the sale, reduction, or cancellation of any loan sold, re18 duced or canceled pursuant to this section shall be depos19 ited in the United States Government account or accounts 

20 established for the repayment of such loan.

21 ‘‘SEC. 908. CORAL REEF AND OTHER COASTAL MARINE RE22 SOURCES AGREEMENT. 

23 ‘‘(a) AUTHORITY.—

24 ‘‘(1) IN GENERAL.—The Secretary of State is 

25 authorized, in consultation with other appropriate 
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1 officials of the Federal Government, to enter into a 

2 Coral Reef and Other Coastal Marine Resources 

3 Agreement with any eligible country concerning the 

4 operation and use of the Fund for that country. 

5 ‘‘(2) CONSULTATION.—In the negotiation of 

6 such an Agreement, the Secretary shall consult with 

7 the Board in accordance with section 910. 

8 ‘‘(b) CONTENTS OF AGREEMENT.—The requirements 

9 contained in section 708(b) of this Act (relating to con10 tents of an agreement) shall apply to an Agreement in 

11 the same manner as such requirements apply to an Amer12 icas Framework Agreement. 

13 ‘‘(c) ADMINISTERING BODY.—

14 ‘‘(1) IN GENERAL.—Amounts disbursed from 

15 the Fund in each beneficiary country shall be admin16 istered by a body constituted under the laws of that 

17 country. 

18 ‘‘(2) COMPOSITION.—

19 ‘‘(A) IN GENERAL.—The administering 

20 body shall consist of—

21 ‘‘(i) one or more individuals appointed 

22 by the United States Government; 

23 ‘‘(ii) one or more individuals ap24 pointed by the government of the bene25 ficiary country; and 
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1 ‘‘(iii) individuals who represent a 

2 broad range of—

3 ‘‘(I) environmental non-govern4 mental organizations of, or active in, 

5 the beneficiary country; 

6 ‘‘(II) local community develop7 ment non-governmental organizations 

8 of the beneficiary country; and 

9 ‘‘(III) scientific, academic, or for10 estry organizations of the beneficiary 

11 country. 

12 ‘‘(B) ADDITIONAL REQUIREMENT.—A ma13 jority of the members of the administering body 

14 shall be individuals described in subparagraph 

15 (A)(iii). 

16 ‘‘(3) RESPONSIBILITIES.—The requirements 

17 contained in section 708(c)(3) of this Act (relating 

18 to responsibilities of the administering body) shall 

19 apply to an administering body described in para20 graph (1) in the same manner as such requirements 

21 apply to an administering body described in section 

22 708(c)(1) of this Act. 

23 ‘‘(d) ELIGIBLE ACTIVITIES.—Amounts deposited in a 

24 Fund shall be used only to provide grants to conserve, 

25 maintain, and restore the coral reefs and other coastal ma-
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1 rine resources in the beneficiary country, through one or 

2 more of the following activities: 

3 ‘‘(1) Establishment, restoration, protection, and 

4 maintenance of parks, protected areas, and reserves. 

5 ‘‘(2) Development and implementation of sci6 entifically sound systems of natural resource man7 agement, including ‘ridgeline to reef’ and ecosystem 

8 management practices. 

9 ‘‘(3) Training programs to increase the sci10 entific, technical, and managerial capacities of indi11 viduals and organizations involved in conservation 

12 efforts. 

13 ‘‘(4) Restoration, protection, or sustainable use 

14 of diverse marine animal and plant species. 

15 ‘‘(5) Development and support of the livelihoods 

16 of individuals living near a coral reef or other coast17 al marine resource, in a manner consistent with pro18 tecting those resources. 

19 ‘‘(e) GRANT RECIPIENTS.—

20 ‘‘(1) IN GENERAL.—Grants made from a Fund 

21 shall be made to—

22 ‘‘(A) nongovernmental environmental, for23 estry, conservation, and indigenous peoples or24 ganizations of, or active in, the beneficiary 

25 country; 
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1 ‘‘(B) other appropriate local or regional 

2 entities of, or active in, the beneficiary country; 

3 or 

4 ‘‘(C) in exceptional circumstances, the gov5 ernment of the beneficiary country. 

6 ‘‘(2) PRIORITY.—In providing grants under 

7 paragraph (1), priority shall be given to projects 

8 that are run by nongovernmental organizations and 

9 other private entities and that involve local commu10 nities in their planning and execution. 

11 ‘‘(f) REVIEW OF LARGER GRANTS.—Any grant of 

12 more than $100,000 from a Fund shall be subject to veto 

13 by the Government of the United States or the govern14 ment of the beneficiary country. 

15 ‘‘(g) ELIGIBILITY CRITERIA.—In the event that a 

16 country ceases to meet the eligibility requirements set 

17 forth in section 905(a), as determined by the President 

18 pursuant to section 905(b), then grants from the Fund 

19 for that country may only be made to nongovernmental

20 organizations until such time as the President determines 

21 that such country meets the eligibility requirements set 

22 forth in section 905(a). 
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1 ‘‘SEC. 909. CORAL REEF AND OTHER COASTAL MARINE RE2 SOURCES FUND. 

3 ‘‘(a) ESTABLISHMENT.—Each beneficiary country 

4 that enters into a Coral Reef and Other Coastal Marine 

5 Resources Agreement under section 908 shall be required 

6 to establish a Coral Reef and Other Coastal Marine Re7 sources Fund to receive payments of interest on new obli8 gations undertaken by the beneficiary country under this 

9 part. 

10 ‘‘(b) REQUIREMENTS RELATING TO OPERATION OF

11 FUND.—The following terms and conditions shall apply 

12 to the Fund in the same manner as such terms as condi13 tions apply to an Enterprise for the Americas Fund under 

14 section 707 of this Act: 

15 ‘‘(1) The provision relating to deposits under 

16 subsection (b) of such section. 

17 ‘‘(2) The provision relating to investments 

18 under subsection (c) of such section. 

19 ‘‘(3) The provision relating to disbursements 

20 under subsection (d) of such section. 

21 ‘‘SEC. 910. BOARD. 

22 ‘‘(a) ENTERPRISE FOR THE AMERICAS BOARD.—The 

23 Enterprise for the Americas Board established under sec24 tion 610(a) of the Agricultural Trade Development and 

25 Assistance Act of 1954 (7 U.S.C. 1738i(a)) shall, in addi26 tion to carrying out the responsibilities of the Board under 
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1 section 610(c) of such Act, carry out the duties described 

2 in subsection (c) of this section for the purposes of this 

3 part. 

4 ‘‘(b) MEMBERSHIP.—

5 ‘‘(1) INITIAL MEMBERSHIP.—Of the six mem6 bers of the Enterprise for the Americas Board ap7 pointed by the President under section 610(b)(1)(A) 

8 of the Agricultural Trade Development and Assist9 ance Act of 1954 (7 U.S.C. 1738i(b)(1)(A)), at least 

10 one shall be a representative of the Department of 

11 State, at least one shall be a representative of the 

12 Department of the Treasury, and at least one shall 

13 be a representative of the Inter-American Founda14 tion. 

15 ‘‘(2) ADDITIONAL MEMBERSHIP.—The Enter16 prise for the Americas Board shall be composed of 

17 an additional four members appointed by the Presi18 dent as follows: 

19 ‘‘(A) Two representatives from the United 

20 States Government, including a representative 

21 of the National Oceanographic and Atmospheric 

22 Administration (NOAA) and a representative of 

23 the United States Geological Survey (USGS). 

24 ‘‘(B) Two representatives from private 

25 nongovernmental environmental, scientific, for-
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1 estry, or academic organizations with experience 

2 and expertise in preservation, maintenance, sus3 tainable uses, and restoration of coral reefs and 

4 other coastal marine resources. 

5 ‘‘(c) DUTIES.—The duties described in this sub6 section are as follows: 

7 ‘‘(1) Advise the Secretary of State on the nego8 tiations of Coral Reef and Other Coastal Marine Re9 sources Agreements. 

10 ‘‘(2) Ensure, in consultation with—

11 ‘‘(A) the government of the beneficiary 

12 country; 

13 ‘‘(B) nongovernmental organizations of the 

14 beneficiary country; 

15 ‘‘(C) nongovernmental organizations of the 

16 region (if appropriate); 

17 ‘‘(D) environmental, scientific, oceano18 graphic, and academic leaders of the beneficiary 

19 country; and 

20 ‘‘(E) environmental, scientific, oceano21 graphic, and academic leaders of the region (as 

22 appropriate), 

23 that a suitable administering body is identified for 

24 each Fund. 
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1 ‘‘(3) Review the programs, operations, and fis2 cal audits of each administering body. 

3 ‘‘SEC. 911. CONSULTATIONS WITH THE CONGRESS. 

4 ‘‘The President shall consult with the appropriate 

5 congressional committees on a periodic basis to review the 

6 operation of the Facility under this part and the eligibility 

7 of countries for benefits from the Facility under this part. 

8 ‘‘SEC. 912. ANNUAL REPORTS TO THE CONGRESS. 

9 ‘‘(a) IN GENERAL.—Not later than December 31 of 

10 each year, the President shall prepare and transmit to the 

11 Congress an annual report concerning the operation of the 

12 Facility for the prior fiscal year. Such report shall in13 clude—

14 ‘‘(1) a description of the activities undertaken 

15 by the Facility during the previous fiscal year; 

16 ‘‘(2) a description of any Agreement entered 

17 into under this part; 

18 ‘‘(3) a report on any Funds that have been es19 tablished under this part and on the operations of 

20 such Funds; and 

21 ‘‘(4) a description of any grants that have been 

22 provided by administering bodies pursuant to Agree23 ments under this part. 

24 ‘‘(b) SUPPLEMENTAL VIEWS IN ANNUAL REPORT.—

25 Not later than December 15 of each year, each member 
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1 of the Board shall be entitled to receive a copy of the re2 port required under subsection (a). Each member of the 

3 Board may prepare and submit supplemental views to the 

4 President on the implementation of this part by December 

5 31 for inclusion in the annual report when it is trans6 mitted to Congress pursuant to this section.’’.

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