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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7571 Introduced in House (IH)]

<DOC>

118th CONGRESS
  2d Session
                                H. R. 7571

    To establish a regional trade, investment, and people-to-people 
partnership of countries in the Western Hemisphere to stimulate growth 
 and integration through viable long-term private sector development, 
                        and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             March 6, 2024

Ms. Salazar (for herself, Mr. Espaillat, and Mr. Gallagher) introduced 
  the following bill; which was referred to the Committee on Ways and 
Means, and in addition to the Committees on Foreign Affairs, Financial 
   Services, the Judiciary, Rules, Energy and Commerce, and Homeland 
Security, for a period to be subsequently determined by the Speaker, in 
   each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL

 
    To establish a regional trade, investment, and people-to-people 
partnership of countries in the Western Hemisphere to stimulate growth 
 and integration through viable long-term private sector development, 
                        and for other purposes.

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

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Americas Act''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
                        TITLE I--ADMINISTRATION

Sec. 101. Americas Institute for Digital Governance.
Sec. 102. E-governance framework.
Sec. 103. Additional duties of Institute.
Sec. 104. Funding.
            TITLE II--TRADE AND INVESTMENT FOR THE AMERICAS

                       Subtitle A--Administration

Sec. 201. Partnership agreements.
Sec. 202. Americas Partnership business advisory board.
Sec. 203. Administration.
Sec. 204. Americas Partnership Secretariat.
Sec. 205. Report.
                           Subtitle B--Trade

                 Chapter 1--Re-shoring and Near-shoring

Sec. 211. Sense of Congress.
Sec. 212. Incentives for re-shoring and near-shoring of businesses from 
                            People's Republic of China.
Sec. 213. Tax credit for qualifying re-shoring and near-shoring 
                            expenses.
                    Chapter 2--Free Trade Expansion

Sec. 221. Tariff reciprocity under GATT 1994.
Sec. 222. Expansion of USMCA or establishment of other regional trade 
                            agreement.
Sec. 223. Americas Partnership Threshold Program.
Sec. 224. Expansion of beneficiaries under United States-Caribbean 
                            Basin Trade Partnership Act.
Sec. 225. Exclusion of certain countries from certain preferential 
                            trade treatment.
Sec. 226. Extension of trade promotion authority to Americas partner 
                            countries for purposes of expansion of 
                            USMCA.
                     Chapter 3--Textile and Apparel

Sec. 231. Textile and apparel grant program.
Sec. 232. Textile reuse and recycling programs.
Sec. 233. Textile production verification teams.
Sec. 234. Tax benefits for apparel and home textile products.
                      Chapter 4--Trade Enforcement

Sec. 241. Establishment of special enforcement unit of U.S. Customs and 
                            Border Protection to monitor the 
                            implementation of Uyghur Forced Labor 
                            Prevention Act.
Sec. 242. Authorization of payments to whistleblowers relating to money 
                            laundering or illicit financial 
                            transactions.
Sec. 243. Establishment of borders and ports protection program.
Sec. 244. Establishment of mutual recognition agreements and trade 
                            transparency units.
        Chapter 5--Medical Equipment and Supplies Grant Program

Sec. 245. Medical equipment and supplies grant program.
                         Subtitle C--Investment

Sec. 251. Sense of Congress.
Sec. 252. BUILD Americas Unit.
Sec. 253. Americas Partnership Enterprise Fund.
Sec. 254. Near-shoring of strategic supply chains.
Sec. 255. Transformational Energy Development.
                Subtitle D--People-to-People Activities

Sec. 261. Humanitarian and business development assistance.
Sec. 262. Department of State.
Sec. 263. Peace Corps.
Sec. 264. American University of the Americas.
Sec. 265. United States Agency for International Development Caribbean 
                            and Latin American Scholarship Program III.
Sec. 266. Concern for Advanced Retired and Elderly nonimmigrant visa 
                            program for aliens who provide direct care 
                            for elderly populations.
Sec. 267. Sense of Congress on TN visa program.
Sec. 268. Assessment of visa waiver program eligibility for Uruguay and 
                            Costa Rica.
Sec. 269. Radio Free Americas.
Sec. 270. Biennial presidential summit.
              TITLE III--REVENUE AND FINANCIAL MANAGEMENT

Sec. 301. Re-shoring and Near-shoring Account.
Sec. 302. Modification of treatment of de minimis entries of articles.
                    TITLE IV--REPORTING AND BRANDING

Sec. 401. Annual report on Americas program.
Sec. 402. Branding and marketing for Americas program.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Americas partner country.--The term ``Americas partner 
        country'' means a county that has entered into a partnership 
        agreement under section 201.
            (2) Americas program.--The term ``Americas program'' means 
        the provision of assistance to and other activities relating to 
        Americas partner countries under title II or amendments made by 
        title II.
            (3) BUILD americas unit.--The term ``BUILD Americas Unit'' 
        means the unit of the United States International Development 
        Finance Corporation established under section 1416 of the BUILD 
        Act of 2018, as added by section 252.
            (4) Near-shore.--The term ``near-shore''--
                    (A) with respect to an entity, means to move not 
                less than the equivalent of \2/3\ of the operations of 
                the entity from the People's Republic of China to one 
                or more Americas partner countries or other countries 
                as provided for under title II; and
                    (B) with respect to a good or service, means to 
                move not less than the equivalent of \2/3\ of the 
                production of the good or service from the People's 
                Republic of China to such countries.
            (5) Re-shore.--The term ``re-shore''--
                    (A) with respect to an entity, means to move not 
                less than the equivalent of \2/3\ of the operations of 
                the entity from the People's Republic of China to the 
                United States; and
                    (B) with respect to a good or service, means to 
                move not less than the equivalent of \2/3\ of the 
                production of the good or service from the People's 
                Republic of China to the United States.
            (6) United states business.--The term ``United States 
        business'' means an entity--
                    (A) organized under the laws of the United States 
                or any jurisdiction within the United States;
                    (B) with its headquarters based in the United 
                States (as determined on the date that is 180 days 
                after the date of the enactment of this Act); and
                    (C) with more than 25 percent of its business 
                inside the United States.
            (7) United states person.--
                    (A) In general.--The term ``United States person'' 
                means--
                            (i) an individual who is a citizen or 
                        resident of the United States; or
                            (ii) an entity organized under the laws of 
                        the United States or any jurisdiction within 
                        the United States.
                    (B) Resident.--For purposes of subparagraph (A)(i), 
                an individual is a resident of the United States if the 
                individual is authorized to be employed in the United 
                States.
            (8) USMCA.--The term ``USMCA'' has the meaning given that 
        term in section 3 of the United States-Mexico-Canada Agreement 
        Implementation Act (19 U.S.C. 4502).
            (9) USMCA country.--The term ``USMCA country'' has the 
        meaning given that term in section 202(a) of the United States-
        Mexico-Canada Agreement Implementation Act (19 U.S.C. 
        4531(a))).

                        TITLE I--ADMINISTRATION

SEC. 101. AMERICAS INSTITUTE FOR DIGITAL GOVERNANCE.

    (a) Establishment.--There is established a nonprofit organization 
within the United States to be known as the ``Americas Institute for 
Digital Governance'' (in this title referred as the ``Institute''), 
which shall be responsible for the development and maintenance of the 
e-governance framework established under section 102.
    (b) Board of Directors.--
            (1) In general.--There shall be in the Institute a Board of 
        Directors (in this section referred to as the ``Board'').
            (2) Membership.--
                    (A) In general.--The President shall request the 
                head of government of each Americas partner country to 
                appoint one member of the Board.
                    (B) Appointment process.--
                            (i) United states.--The President shall 
                        appoint the member of the Board representing 
                        the United States.
                            (ii) Other countries.--The President shall 
                        request the head of government of each Americas 
                        partner country to determine a process for 
                        appointing the member of the Board to represent 
                        that country.
                    (C) Terms.--A member of the Board shall serve on 
                the Board for not more than 4 years.
                    (D) Removal.--
                            (i) Removal by country represented.--A 
                        member of the Board shall serve at the 
                        discretion of the Americas partner country the 
                        member represents and may be removed pursuant 
                        to a process determined by the government of 
                        that country.
                            (ii) Removal by board.--A member of the 
                        Board may be removed by a vote of \2/3\ of the 
                        members of the Board.
                    (E) Vacancies.--In the event that a member of the 
                Board is removed under subparagraph (D) or dies or is 
                otherwise deemed unable to serve the remainder of the 
                term of the member, the government of the Americas 
                partner country the member represented shall appoint an 
                individual to serve out the remainder of that term 
                pursuant to a process determined by that government.
                    (F) Ethics requirements.--
                            (i) Financial disclosure.--A member of the 
                        Board shall fully disclose the financial assets 
                        of the member and divest from any holdings, 
                        such as stocks or other equities, that relate 
                        to any private entity that conducts business 
                        with the Institute.
                            (ii) Blind trust requirement.--A member of 
                        the Board shall place the assets of the member 
                        in a blind trust for the duration of the term 
                        of the member on the Board.
                            (iii) Prohibition on nepotism.--An 
                        individual may not be appointed as a member of 
                        the Board if a relative of the individual is an 
                        elected official in an Americas partner 
                        country.
                            (iv) Additional requirements.--The Board 
                        may impose such other ethics and disclosure 
                        requirements as the Board considers 
                        appropriate.
            (3) Representation.--Each member of the Board shall have an 
        equal vote in all matters.
            (4) Meetings; quorum.--
                    (A) Frequency of meetings.--The Board shall meet 
                not less frequently than once every 90 days.
                    (B) Quorum.--Members of the Board representing a 
                majority of the total votes on the Board are required 
                to be present to constitute a quorum.
            (5) Chairperson.--There shall be a chairperson of the 
        Board, who shall--
                    (A) be elected by a majority vote of the Board from 
                among members of the Board; and
                    (B) preside over meetings of the Board.
            (6) Calculation of votes.--For purposes of determining a 
        majority vote of the Board, vacancies that have not been filled 
        shall not be counted toward any total.
            (7) Access to information.--A member of the Board may 
        request information from the Institute and provide that 
        information to the government of the Americas partner country 
        the member represents unless the chairperson of the Board 
        determines that sharing that information may violate the 
        privacy of a user of the e-governance system, endanger cyber 
        security, or violate any applicable law.
    (c) Staff.--
            (1) Chief executive.--There shall be a Chief Executive of 
        the Institute, who--
                    (A) shall--
                            (i) be elected and appointed by the 
                        majority vote of the Board; and
                            (ii) be vested with the full executive 
                        authority of the Institute; and
                    (B) may be removed by a majority vote of the Board.
            (2) Additional employees.--
                    (A) In general.--The Chief Executive may--
                            (i) appoint such employees, including 
                        managers, assistant managers, officers, 
                        attorneys, and agents, as the Chief Executive 
                        considers necessary;
                            (ii) define the compensation (subject to 
                        subparagraph (B)) and duties of those 
                        employees; and
                            (iii) establish a system of organization to 
                        fix responsibility and promote efficiency.
                    (B) Salaries.--The salaries of officers and 
                employees of the Institute shall be equivalent to the 
                salaries provided for under the General Schedule under 
                section 5332 of title 5, United States Code.
                    (C) Salary cap.--No regular officer or employee of 
                the Institute may receive a salary that exceeds the 
                salary of the Chief Executive.
    (d) Corporate Powers.--Except as otherwise specifically provided in 
this Act, the Institute--
            (1) shall have succession in its corporate name;
            (2) may sue and be sued in its corporate name;
            (3) may adopt and use a corporate seal, which shall be 
        judicially noticed;
            (4) may make contracts;
            (5) may adopt, amend, and repeal bylaws; and
            (6) may purchase or lease, hold, and dispose of such real 
        and personal property as the Institute deems necessary or 
        convenient in the transaction of its business.
    (e) Nonprofit Organization Defined.--In this section, the term 
``nonprofit organization'' means an organization--
            (1) described in section 501(c)(3) of the Internal Revenue 
        Code of 1986; and
            (2) exempt from tax under section 501(a) of such Code.

SEC. 102. E-GOVERNANCE FRAMEWORK.

    (a) Development.--The Institute shall develop and maintain a 
comprehensive e-governance framework for Americas partner countries.
    (b) Purpose.--The purpose of the e-governance framework developed 
under subsection (a) shall be to allow for the development of 
interoperable services to harmonize and facilitate the delivery of 
effective and transparent government services within and between 
Americas partner countries.
    (c) Principles.--In developing the e-governance framework under 
subsection (a), the Institute shall ensure that the framework adheres 
to the following principles:
            (1) Interoperability.--The framework shall be designed to 
        allow different government systems to, when appropriate, 
        seamlessly share data with each other, consistent with 
        applicable laws and privacy restrictions under subsection (d).
            (2) Decentralization.--The framework should seek to avoid 
        centralized control over data, and should allow the government 
        of each Americas partner country to maintain control over its 
        own data while still facilitating cross-border data sharing. 
        Data control and hosting under the framework should be 
        consistent with local law and international agreements. Nothing 
        in this paragraph may be construed to contravene or supercede 
        laws or agreements in effect before the date of the enactment 
        of this Act.
            (3) Open standards.--The framework should, to the greatest 
        extent practicable, be built on open standards that are freely 
        available to the public.
            (4) Data sovereignty.--The framework should ensure that 
        each Americas partner country maintains control over the data 
        of citizens of that country.
            (5) Public-private partnerships.--The framework should 
        allow for the collaboration of public and private entities in 
        the development, design, and maintenance of e-governance 
        systems.
            (6) Open source.--Systems developed by the Institute 
        should, to the extent practicable, be open source. Systems 
        developed by Americas partner countries are encouraged to be 
        open source as well.
            (7) Adaptation.--The framework shall account, consistent 
        with other provisions of this Act, for existing e-governance 
        systems developed by Americas partner countries, including by 
        adopting, in part or in whole, existing e-governance systems as 
        part of the framework or as reference implementations within 
        the framework.
    (d) Privacy.--The e-governance framework developed under subsection 
(a) shall incorporate privacy best-practices, including as follows:
            (1) Data minimization.--Systems developed under the 
        framework should collect only the minimal set of data necessary 
        for a given purpose and without any additional processing 
        unnecessary for fulfilling that purpose.
            (2) Data protection.--The Institute shall define necessary 
        access controls for data and require encryption of data where 
        appropriate.
            (3) Data retention.--The Institute shall develop and 
        publish a data retention policy, which shall--
                    (A) be honored by any system operating under the 
                framework;
                    (B) include a disclosure of--
                            (i) what user information is stored by a 
                        particular system;
                            (ii) whether that information is encrypted; 
                        and
                            (iii) for how long the information is 
                        stored; and
                    (C) provide for the Institute to provide, in a 
                timely fashion, all data held related to an individual 
                or entity upon the request of the individual or entity.
            (4) Data deletion.--Systems developed under the framework 
        shall, to the greatest extent practicable, include a mechanism 
        by which--
                    (A) a user may request that any system operating 
                under the framework delete any data on the user; and
                    (B) such a request is honored within 72 hours, 
                except as required by other applicable law.
            (5) Data correction.--Systems developed under the framework 
        shall, to the greatest extent practicable, incorporate 
        mechanisms under which--
                    (A) a user may request to correct inaccurate data 
                in the framework related to the user; and
                    (B) such a request is honored within 72 hours after 
                the correct data has been verified.
            (6) Other privacy practices.--The Institute may develop and 
        enforce such other privacy practices as the Institute considers 
        appropriate.
    (e) Cyber Security.--The e-governance framework developed under 
subsection (a) shall incorporate cyber security best practices, 
including the following:
            (1) Appropriate access controls and user authentication, 
        which may--
                    (A) vary by service according to the sensitivity of 
                the data involved; and
                    (B) include the integration of any national 
                electronic identification systems of Americas partner 
                countries.
            (2) Regular penetration testing by an outside organization 
        certified by the Institute, to be conducted not less frequently 
        than once a year.
            (3) Provision of a common vulnerability disclosure policy 
        for systems operating under the framework.
            (4) Such other cyber security best practices as the 
        Institute considers appropriate.
    (f) Enforcement.--
            (1) Audits.--Each system of an Americas partner country 
        operating under the e-governance framework developed under 
        subsection (a) shall undergo annual audits by an outside 
        organization certified by the Institute. That audit shall 
        assess the compliance of the system with the privacy and 
        security requirements of this section and such other 
        requirements as the Institute considers necessary.
            (2) Effect of noncompliance.--If an audit conducted under 
        paragraph (1) indicates that a system or systems of an Americas 
        partner country are substantially noncompliant with the privacy 
        and security requirements of this section, the Institute may--
                    (A) designate the system or systems as 
                noncompliant;
                    (B) recommend that other Americas partner countries 
                take such actions as may be necessary to protect the 
                privacy and security of the systems and data of those 
                countries; and
                    (C) withhold, in part or in whole, further 
                assistance to the country the system or systems of 
                which are designated as noncompliant, including 
                revoking privileges or access to any services or shared 
                infrastructure of the Institute, until such a time as 
                the Institute determines that the system or systems are 
                compliant.
            (3) Allowances for noncompliance.--
                    (A) In general.--The Institute may certify as 
                partially or wholly compliant any system of an Americas 
                partner country if the Institute determines that the 
                country is making a good faith effort at compliance, 
                but has not fully achieved compliance with all the 
                requirements of this section.
                    (B) Elements.--A certification under subparagraph 
                (A) may include a certification that a system is 
                temporarily compliant--
                            (i) during--
                                    (I) the development of the system;
                                    (II) partial deployments of the 
                                system; or
                                    (III) deployments of minimum viable 
                                products; or
                            (ii) if the Institute determines that 
                        compliance with the requirements of this 
                        section would substantially hinder the ability 
                        of a country to effectively provide critical 
                        services to citizens of the country and there 
                        is no practical path to achieve compliance and 
                        effectively provide such services.
            (4) Suspension of partnership.--If the participation of a 
        country in a partnership agreement is suspended under section 
        201(d), the Institute--
                    (A) may terminate the provision of any services or 
                assistance to the country; and
                    (B) may take such steps as are necessary to ensure 
                any systems affected by the termination are 
                transitioned appropriately to minimize disruptions to 
                the citizens of that country.
    (g) Multilingual Functionality.--The Institute shall ensure that 
all resources necessary to develop systems compliant with the e-
governance framework developed under subsection (a) are available in 
all necessary languages.

SEC. 103. ADDITIONAL DUTIES OF INSTITUTE.

    (a) International Cooperation.--The Institute shall seek to promote 
collaboration between Americas partner countries on the development, 
standardization, and deployment of e-governance systems, including such 
systems developed outside the e-governance framework developed under 
section 102 and systems developed before the implementation of this 
Act.
    (b) Development Process.--The Institute shall be responsible for 
assisting Americas partner countries in the development and deployment 
of e-governance systems in compliance with the e-governance framework 
developed under section 102. Such assistance may include the following:
            (1) The development or adoption, in collaboration with 
        appropriate national and international standards organizations, 
        of technical standards necessary to promote the efficient 
        development of systems under the framework.
            (2) The development of reference implementations for e-
        government services, as the Institute considers appropriate.
            (3) The development and maintenance of infrastructure that 
        may be shared by multiple services, including across multiple 
        Americas partner countries, as the Institute and such countries 
        consider appropriate.
            (4) Providing technical assistance to Americas partner 
        countries in the development of services, which may include 
        entering into contracts for developing and hosting services on 
        behalf of such countries. Such contracts may include terms for 
        an Americas partner country to provide the Institute with 
        funding for development and hosting services.
            (5) The procurement or licensing, as the Institute 
        considers appropriate, of commercial technology that may be 
        shared with Americas partner countries and used for the 
        delivery of services.
            (6) Providing for the certification of organizations to 
        carry out the auditing and penetration testing required by 
        section 102(e).
            (7) Partnering with private sector entities for the 
        provision, development, maintenance, or hosting of services, or 
        other such assistance as the Institute considers necessary.
            (8) Providing financing to facilitate the development or 
        modernization of a system, subject to such accountability 
        mechanisms as the Institute considers necessary to ensure funds 
        are spent efficiently and appropriately.
            (9) Accounting for the development of emerging 
        technologies, including artificial intelligence, and, to the 
        extent necessary, incorporating such technologies into systems 
        developed by or with Americas partner countries or making 
        recommendations for how those countries may incorporate or 
        regulate such technologies.
            (10) Other matters as the Institute considers appropriate.
    (c) Procurement Restriction.--
            (1) In general.--The Institute shall ensure that no system 
        or product operating under the e-governance framework developed 
        under section 102 is involved in any contract for the 
        development of a service as part of the e-governance framework, 
        or shares any data, with an individual or entity residing in or 
        acting on behalf of the Russian Federation, the People's 
        Republic of China, Iran, North Korea, Venezuela, Cuba, or such 
        other countries as the Institute considers necessary to protect 
        the privacy and security of the citizens of Americas partner 
        countries.
            (2) Authority to exclude other individuals, entities, and 
        products.--The Institute may, as the Institute considers 
        necessary to protect the privacy and security of the citizens 
        of Americas partner countries, prohibit any system described in 
        paragraph (1) from entering into any contract for the 
        development of a service as part of the e-governance framework, 
        or sharing any data--
                    (A) with an individual or entity that does not 
                reside in a country described in paragraph (1); or
                    (B) using a product not from such a country.

SEC. 104. FUNDING.

    (a) Authorization of Appropriations for Institute.--There are 
authorized to be appropriated $10,000,000 to establish the Institute.
    (b) Additional Funding.--Such sums as may be necessary to carry out 
this title shall be made available from the Re-shoring and Near-shoring 
Account established under section 301.

            TITLE II--TRADE AND INVESTMENT FOR THE AMERICAS

                       Subtitle A--Administration

SEC. 201. PARTNERSHIP AGREEMENTS.

    (a) Authority To Enter Into Partnership Agreements.--
            (1) In general.--The Secretary of State may enter into 
        partnership agreements with countries in the Western 
        Hemisphere, which shall serve as the gateway into accession of 
        additional countries to the USMCA under section 222.
            (2) Inclusions.--A partnership agreement entered into under 
        paragraph (1) shall include protections for democracy and human 
        rights and anti-corruption measures consistent with the Inter-
        American Democratic Charter and the International Covenant on 
        Civil and Political Rights.
            (3) Consultations.--The Secretary shall--
                    (A) consult with Congress during negotiations for a 
                partnership agreement under paragraph (1); and
                    (B) notify Congress not less than 15 days before 
                signing the partnership agreement.
            (4) Ineligible countries.--The Secretary may not enter into 
        a partnership agreement under paragraph (1) with a country--
                    (A) that is a member of the Bolivarian Alliance for 
                the Peoples of Our America;
                    (B) the government of which is listed under 
                subparagraph (C) of section 110(b)(1) of the 
                Trafficking Victims Protection Act of 2000 (22 U.S.C. 
                7107(b)(1)) (commonly referred to as ``tier 3'') in the 
                most recent report on trafficking in persons required 
                under such section (commonly referred to as the 
                ``Trafficking in Persons Report''); or
                    (C) the government of which is not--
                            (i) committed to the fight against 
                        terrorism; or
                            (ii) in compliance with the terms of the 
                        Inter-American Democratic Charter of the 
                        Organization of American States.
    (b) Commitments.--A partner country shall commit to abide by the 
terms of the partnership agreement entered into under subsection (a).
    (c) Suspension.--
            (1) In general.--The Secretary of State shall move to 
        suspend the participation of a country in a partnership 
        agreement entered into under subsection (a) at the end of the 
        one-year period beginning on the date on which the Secretary of 
        State, in coordination with the heads of other relevant 
        agencies and upon consultation with Congress, determines that 
        the country is in violation of the commitments of the country 
        under subsection (b) or is ineligible under subsection (a)(4), 
        unless the country comes into compliance with those commitments 
        and becomes eligible before the end of that period.
            (2) Notification to the secretariat.--Upon making a 
        determination described in paragraph (1) with respect to a 
        country, the Secretary of State shall provide a notice of the 
        determination, to be considered at the next scheduled meeting 
        of the Americas Partnership Secretariat established under 
        section 204, along with a list of deficiencies the government 
        of the country could remedy to come back into compliance with 
        the commitments of the country under subsection (b) and to 
        become eligible under subsection (a)(4). The text of the notice 
        and the list shall be provided to--
                    (A) the permanent representative of the government 
                of the country at the Secretariat;
                    (B) the government of each Americas partner 
                country; and
                    (C) the Committee on Finance of the Senate and the 
                Committee on Ways and Means of the House of 
                Representatives.
            (3) Visit required.--Before the Secretary of State makes a 
        motion under paragraph (1) with respect to a country, the 
        Deputy Assistant Secretary of State for the Americas 
        Partnership established under section 203(c)(1) shall seek a 
        formal visit from the Americas Partnership Secretariat to the 
        country to explain the reasons for the motion under paragraph 
        (1).
            (4) Effect of suspension.--
                    (A) In general.--If the participation of a country 
                in a partnership agreement entered into under 
                subsection (a) is suspended under paragraph (1)--
                            (i) the provisions of this title and the 
                        amendments made by this title shall not apply 
                        with respect to the country during the period 
                        of suspension; and
                            (ii) the Secretary of State shall use the 
                        voice and vote of the United States in any 
                        appropriate multilateral forum to pressure the 
                        government of that country to take the actions 
                        necessary to come into compliance with the 
                        eligibility requirements under subsection (c).
                    (B) Rule of construction.--The suspension of the 
                participation of a country in a partnership agreement 
                under paragraph (1) may not be construed to affect the 
                relationship of that country to any country, other than 
                the United States, that is a party or a potential party 
                to the USMCA.
    (d) Initial Partner Countries.--The first countries with which the 
Secretary of State shall seek to enter into partnership agreements 
under subsection (a) shall be countries identified under the Americas 
Partnership for Economic Prosperity (APEP) executive program that are 
not ineligible under subsection (a)(4).
    (e) Countries Seeking Partnership Agreements.--
            (1) Notification.--A country seeking to enter into a 
        partnership agreement under subsection (a) shall submit a 
        notification to the Secretary of State indicating the desire of 
        the country to enter into such an agreement.
            (2) Response.--
                    (A) In general.--Not later than 180 days after 
                receiving a notification under paragraph (1) from a 
                country, the Secretary shall--
                            (i) make a determination with respect to 
                        whether or not to enter into a partnership 
                        agreement with the country; and
                            (ii) notify the country of the 
                        determination.
                    (B) Inclusion in negative response.--If the 
                Secretary determines under subparagraph (A) not to 
                enter into a partnership agreement with a country, the 
                Secretary shall notify the country in writing of the 
                reasons for the determination and the steps the country 
                can take to become eligible for a partnership 
                agreement.
    (f) Grant Program.--The Secretary of State may provide grants, 
using amounts available for other grant programs of the Department of 
State, to countries to assist those countries to become eligible for 
partnership agreements under this section.

SEC. 202. AMERICAS PARTNERSHIP BUSINESS ADVISORY BOARD.

    (a) Establishment.--The Americas Partnership Secretariat 
established under section 204 shall establish a business advisory 
board, which will meet periodically, on an ad hoc basis, at the 
Secretariat to inform discussions on the business environments of 
Americas partner countries.
    (b) Composition.--The business advisory board established under 
subsection (a) shall be composed of representatives of private sector 
entities, civil society organizations, and labor organizations from 
Americas partner countries.
    (c) Advisory Topics.--The business advisory board established under 
subsection (a) may provide advice to Americas partner countries through 
the Secretariat on the following topics relating to the business 
environment in Americas partner countries:
            (1) Regulatory hurdles.
            (2) Labor issues.
            (3) Dispute resolution challenges.
            (4) Legal hurdles to investment.
            (5) Alignment on regulation related to key emerging 
        technologies such as artificial intelligence.
            (6) Harmonization of reference price systems.
            (7) Other issues affecting the business community in 
        Americas partner countries.
    (d) Coordination.--The business advisory board established under 
subsection (a) shall coordinate with the central regulatory 
coordinating bodies referred to in Article 28.3 of the USMCA.
    (e) Annual Report.--Not less frequently than annually, the business 
advisory board established under subsection (a) shall submit to the 
Secretariat a report on the business environment in Americas partner 
countries, including opportunities and challenges to investment.

SEC. 203. ADMINISTRATION.

    (a) Department of Commerce.--
            (1) Deputy under secretary of commerce.--
                    (A) In general.--There shall be in the 
                International Trade Administration of the Department of 
                Commerce a Deputy Under Secretary responsible for 
                administration of the responsibilities of the 
                Department of Commerce under this title.
                    (B) Working group.--The Deputy Under Secretary 
                established under subparagraph (A) shall establish a 
                permanent working group, composed of representatives of 
                the relevant agencies, to collaborate on matters 
                relating to the administration of this title and the 
                amendments made by this title.
            (2) International trade administration.--The Under 
        Secretary may increase the number of employees of the 
        International Trade Administration by the number necessary to 
        administer this title and the amendments made by this title.
            (3) United states and foreign commercial service.--
                    (A) In general.--The Director General of the United 
                States and Foreign Commercial Service (established by 
                section 2301 of the Export Enhancement Act of 1988 (15 
                U.S.C. 4721)) may assign additional commercial attaches 
                to serve at the United States embassies in each 
                Americas partner countries to oversee coordination and 
                reporting under partnership agreements entered into 
                under section 201.
                    (B) Role of commercial attaches.--A commercial 
                attache assigned to an Americas partner country under 
                subparagraph (A) shall--
                            (i) coordinate with the Department of the 
                        Treasury with respect to loans provided under 
                        section 212(a) to incentivize re-shoring and 
                        near-shoring;
                            (ii) be the lead officer on the country 
                        team, under the Chief of Mission, responsible 
                        for implementation of the partnership agreement 
                        entered into under section 201 with that 
                        country; and
                            (iii) carry out such other duties as the 
                        Director General or the Chief of Mission may 
                        assign for successful implementation of the 
                        Americas program.
            (4) Authorization of appropriations.--
                    (A) In general.--There shall be available to the 
                Secretary of Commerce, from the Re-shoring and Near-
                shoring Account established under section 301, 
                $10,000,000 for each of fiscal years of 2024, 2025, and 
                2026 to administer this title and the amendments made 
                by this title.
                    (B) Availability of funds.--Amounts made available 
                pursuant to subparagraph (A) shall be available until 
                expended.
    (b) Office of United States Trade Representative.--
            (1) In general.--There shall be in the Office of the United 
        States Trade Representative an Assistant United States Trade 
        Representative for the Americas Partnership, who shall--
                    (A) be responsible for negotiations with respect 
                to--
                            (i) the accession of countries to the USMCA 
                        pursuant to the mechanism developed pursuant to 
                        section 222(b); and
                            (ii) designation of Americas partner 
                        countries as CBTPA beneficiary countries (as 
                        defined in section 213(b)(5) of the Caribbean 
                        Basin Economic Recovery Act, as amended by 
                        section 224);
                    (B) hire the staff necessary to support 
                negotiations described in subparagraph (A); and
                    (C) coordinate closely with the Under Secretary 
                with respect to administration of this title.
            (2) Authorization of appropriations.--
                    (A) In general.--There shall be available to the 
                United States Trade Representative, from the Re-shoring 
                and Near-shoring Account established under section 301, 
                $5,000,000 for each of fiscal years of 2024, 2025, and 
                2026 to administer this title and the amendments made 
                by this title.
                    (B) Availability of funds.--Amounts made available 
                pursuant to subparagraph (A) shall be available until 
                expended.
    (c) Department of State.--
            (1) Deputy assistant secretary for the americas 
        partnership.--There shall be in the Bureau for Western 
        Hemisphere Affairs of the Department of State a Deputy 
        Assistant Secretary for the Americas Partnership, who--
                    (A) may be the United States representative to the 
                Americas Partnership Secretariat; and
                    (B) shall, in coordination with the Under 
                Secretary, coordinate people-to-people efforts under 
                this title on behalf of the Department of State.
            (2) Additional civil service officers.--The Secretary of 
        State may hire sufficient civil service officers to fulfill the 
        successful management of the efforts described in paragraph 
        (1).
            (3) Additional foreign affairs officers.--The Secretary of 
        State may hire additional foreign affairs officers, relative to 
        the number of such officers on the day before the date of the 
        enactment of this Act, to support the implementation of this 
        title.
            (4) Authorization of appropriations.--
                    (A) In general.--There shall be available to the 
                Secretary of State, from the Re-shoring and Near-
                shoring Account established under section 301, 
                $10,000,000 for each of fiscal years of 2024, 2025, and 
                2026 to administer this title and the amendments made 
                by this title.
                    (B) Availability of funds.--Amounts made available 
                pursuant to subparagraph (A) shall be available until 
                expended.
    (d) United States Agency for International Development.--
            (1) Deputy assistant administrator for the americas 
        partnership.--There shall be in the Bureau for Latin America 
        and the Caribbean of the United States Agency for International 
        Development a Deputy Assistant Administrator for the Americas 
        Partnership, who shall, in coordination with the Under 
        Secretary, coordinate development, humanitarian, and people-to-
        people efforts under this title on behalf of the United States 
        Agency for International Development.
            (2) Additional foreign service officers and other 
        employees.--The Administrator of the United States Agency for 
        International Development may hire additional foreign service 
        officers, relative to the number of such officers on the day 
        before the date of the enactment of this Act, to support the 
        implementation of this title.
            (3) Authorization of appropriations.--
                    (A) In general.--There shall be available to the 
                Administrator, from the Re-shoring and Near-shoring 
                Account established under section 301, $10,000,000 for 
                each of fiscal years of 2024, 2025, and 2026 to 
                administer this title and the amendments made by this 
                title.
                    (B) Availability of funds.--Amounts made available 
                pursuant to subparagraph (A) shall be available until 
                expended.
    (e) Other Bureaus and Offices.--The President--
            (1) may establish such additional bureaus and offices as 
        the President considers appropriate to implement this title; 
        and
            (2) shall ensure that a description of any such bureaus and 
        offices is included in the annual report required by section 
        205.
    (f) Availability of Funds.--Amounts shall be made available to 
carry out this section from the Re-shoring and Near-shoring Account 
established under section 301.

SEC. 204. AMERICAS PARTNERSHIP SECRETARIAT.

    (a) Establishment.--Not later than 180 day after the date of the 
enactment of this Act, there shall be established in the United States 
the ``Americas Partnership Secretariat'' (in this section referred to 
as the ``Secretariat'').
    (b) Duties.--The Secretariat shall be responsible for duties 
including--
            (1) coordinating diplomatic, economic, and people-to-people 
        efforts of the Americas partner countries under this title and 
        the amendments made by this title;
            (2) carrying out efforts to build and advance partnerships 
        between city mayors and other subnational government leaders 
        from Americas partner countries, civil society organizations, 
        and private sector entities to expand subnational diplomacy; 
        and
            (3) providing policy and technical support through 
        dialogue, research, and other structured engagements.
    (c) Membership.--The membership of the Secretariat shall be 
comprised of representatives from the governments of Americas partner 
countries. Selection of such representatives shall be determined by the 
governments of the Americas partner countries.
    (d) Authorization of Appropriations.--
            (1) In general.--There shall be available to the 
        Secretariat, from the Re-shoring and Near-shoring Account 
        established under section 301, $10,000,000 for each of fiscal 
        years of 2024, 2025, and 2026 to carry out the duties of the 
        Secretariat under this title and the amendments made by this 
        title.
            (2) Availability of funds.--Amounts made available pursuant 
        to subparagraph (A) shall be available until expended.

SEC. 205. REPORT.

    (a) In General.--Not later than 180 days after the date of the 
enactment of this Act, and annually thereafter, the Under Secretary 
shall submit to the appropriate congressional committees a report on 
efforts carried out under this title.
    (b) Appropriate Congressional Committees Defined.--In this section, 
the term ``appropriate congressional committees'' means--
            (1) the Committee on Finance and the Committee on Foreign 
        Relations of the Senate; and
            (2) the Committee on Ways and Means and the Committee on 
        Foreign Affairs of the House of Representatives.

                           Subtitle B--Trade

                 CHAPTER 1--RE-SHORING AND NEAR-SHORING

SEC. 211. SENSE OF CONGRESS.

    (a) In General.--It is the sense of Congress that the re-shoring 
and near-shoring of industry from China into the United States is in 
the national security interest of the United States and therefore falls 
under the national security exceptions under article XXI of the GATT 
1994.
    (b) GATT 1994 Defined.--In this section, the term ``GATT 1994'' has 
the meaning given that term in section 2 of the Uruguay Round 
Agreements Act (19 U.S.C. 3501).

SEC. 212. INCENTIVES FOR RE-SHORING AND NEAR-SHORING OF BUSINESSES FROM 
              PEOPLE'S REPUBLIC OF CHINA.

    (a) Loans and Grants.--
            (1) Lending authority.--
                    (A) In general.--The Secretary may provide loans to 
                covered entities.
                    (B) Amount.--The total amount of loans that may be 
                provided under subparagraph (A) may not exceed 
                $60,000,000,000.
                    (C) Coverage of loans.--Loans provided to covered 
                entities under subparagraph (A) may be used for--
                            (i) the costs of moving inventory, 
                        equipment, and supplies from the People's 
                        Republic of China to the United States, an 
                        Americas partner country, or another country 
                        benefitting from a strategic supply chain 
                        identified under section 254;
                            (ii) the costs of training workers in the 
                        United States, an Americas partner country, or 
                        a country benefitting from a strategic supply 
                        chain identified under section 254;
                            (iii) the costs of constructing facilities 
                        in the United States, an Americas partner 
                        country, or a country benefitting from a 
                        strategic supply chain identified under section 
                        254;
                            (iv) other costs directly related to re-
                        shoring or near-shoring; or
                            (v) loans, guarantees, and other 
                        instruments (excluding grants) approved by the 
                        BUILD Americas Unit or the Americas Enterprise 
                        Fund designated under section 253.
            (2) Grant authority.--
                    (A) In general.--The Secretary of Commerce shall 
                administer a grant program to award grants to covered 
                entities.
                    (B) Funding.--Funding for grants under the grant 
                program required under subparagraph (A) shall be 
                derived solely from the Re-Shoring and Near-Shoring 
                Account established under section 301.
            (3) Administration.--
                    (A) In the united states.--The Secretary or the 
                Secretary of Commerce, as the case may be, may enter 
                into arrangements with commercial banks, credit unions, 
                or other entities in the United States as identified by 
                the Secretary to administer loans authorized under 
                paragraph (1) or grants authorized under paragraph (2) 
                for covered entities to re-shore.
                    (B) Outside the united states.--The Secretary or 
                the Secretary of Commerce, as the case may be, may 
                enter into arrangements with the BUILD Americas Unit or 
                regional banks to administer loans authorized under 
                paragraph (1) or grants authorized under paragraph (2) 
                for covered entities to near-shore.
                    (C) Deposit of interest.--The Secretary shall 
                deposit any profits earned on interest bearing loans 
                authorized under paragraph (1) in the Re-Shoring and 
                Near-Shoring Account established under section 301.
                    (D) Report.--Not later than one year after the date 
                of the enactment of this Act, the Secretary shall 
                submit to Congress a report on the progress of the 
                arrangements entered into under this paragraph.
            (4) Annual reports.--
                    (A) In general.--Not later than one year after the 
                date of the enactment of this Act, and annually 
                thereafter, the Board of Governors of each commercial 
                bank with respect to which the Secretary or the 
                Secretary of Commerce has entered into an arrangement 
                under paragraph (4) and the BUILD Americas Unit shall 
                submit to the Under Secretary a report on the 
                administration by each such entity of loans or grants 
                under this subsection, including--
                            (i) a description of the loans issued or 
                        grants awarded;
                            (ii) the repayment rates for any such 
                        loans;
                            (iii) an assessment of successful re-
                        shoring and near-shoring projects;
                            (iv) a description of any lessons learned; 
                        and
                            (v) the balance sheets for any such loans.
                    (B) Transmittal to congress.--The Under Secretary 
                of Commerce for International Trade shall include the 
                information provided in reports under subparagraph (A) 
                in the annual report required under section 401.
    (b) Duty-Free Status.--Notwithstanding any other provision of law, 
covered entities approved under subsection (c) are eligible for a one-
time duty-free import of articles into the United States that are 
imported for the sole and express purposes of re-shoring or near-
shoring.
    (c) Process for Approval.--
            (1) Notice.--An entity that seeks to re-shore or near-shore 
        may submit notice of the intent of the entity to re-shore or 
        near-shore, as the case may be, along with such paperwork as 
        the Secretary may consider appropriate demonstrating that 
        intent.
            (2) Approval.--The Secretary, in consultation with the 
        Trade Representative, shall approve entities that have 
        submitted notice under paragraph (1) to re-shore or near-shore 
        pursuant to such procedures as the Secretary considers 
        appropriate.
            (3) Use of contractor.--If an entity uses a contract 
        company for the production of goods or services in the People's 
        Republic of China, the approval of the entity under paragraph 
        (2) shall not take effect until the entity notifies the 
        Secretary and the Secretary confirms that a replacement 
        contract has been awarded in the United States or an Americas 
        partner country.
    (d) Termination and Penalty.--
            (1) In general.--Except as provided in paragraph (4), a 
        covered entity approved under subsection (c) to re-shore or 
        near-shore shall have 5 years following that approval to 
        complete re-shoring or near-shoring, as the case may be, of the 
        business of that entity, which may include the moving of 
        materials, personnel, and production.
            (2) Termination of benefits.--Except as provided in 
        paragraph (4), a covered entity is not eligible for benefits 
        under this section on or after the date that is 5 years after 
        the date on which the entity is approved under subsection (d).
            (3) Penalty.--Except as provided in paragraph (4), at the 
        end of the 5-year period under paragraph (1), a covered entity 
        that has not completed the re-shoring or near-shoring, as the 
        case may be, of the business of the entity shall owe to the 
        United States--
                    (A) the total amount of duties the entity would 
                have owed for imports into the United States but for 
                the application of subsection (b);
                    (B) the total amount of any other benefits accrued 
                to the entity under this section, as determined by the 
                Secretary in consultation with the Trade 
                Representative; and
                    (C) a penalty equal to 10 percent of the amounts 
                determined under subparagraphs (A) and (B).
            (4) Extension and waiver.--If the Secretary determines that 
        extraordinary circumstances exist, on a case-by-case basis, the 
        Secretary may--
                    (A) extend by a period of two years the deadlines 
                under paragraphs (1) and (2); or
                    (B) waive the amounts owed under paragraph (3).
    (e) Treatment of Defaults.--
            (1) Judicial proceedings.--The United States shall 
        disregard any ruling against a covered entity or a government 
        of an Americas partner country that pertains to a default on 
        obligations in the People's Republic of China relating to re-
        shoring or near-shoring activities approved under this section.
            (2) International venues.--The President shall use the 
        voice and vote of the United States at multilateral 
        institutions to--
                    (A) oppose the consideration of defaults on 
                obligations in the People's Republic of China relating 
                to re-shoring or near-shoring activities approved under 
                this section when measuring credit ratings of covered 
                entities; and
                    (B) disregard sovereign debt defaults and other 
                similar actions when measuring credit valuations of 
                Americas partner countries relating to debts and 
                amounts received from the People's Republic of China.
    (f) Findings and Sense of Congress.--
            (1) Findings.--Congress makes the following findings:
                    (A) The United States Trade Representative stated 
                in a hearing that, ``The United States has repeatedly 
                sought and obtained commitments from China, only to 
                find that follow-through or real change remains 
                elusive.''.
                    (B) The Government of the People's Republic of 
                China continues to apply the rules only when they are 
                beneficial to them.
            (2) Sense of congress.--It is the sense of Congress that--
                    (A) companies approved for re-shoring or near-
                shoring by the Secretary should be protected from legal 
                asset forfeiture by the People's Republic of China; and
                    (B) covered entities and transactions by covered 
                entities are subject to the national security 
                exceptions under article XXI of the GATT 1994 (as 
                defined in section 2 of the Uruguay Round Agreements 
                Act (19 U.S.C. 3501)).
    (g) Definitions.--In this section:
            (1) Covered entity.--The term ``covered entity'' means an 
        entity that has submitted notice of the intent of the entity to 
        re-shore or near-shore under subsection (c)(1) and has been 
        approved for re-shoring or near-shoring under subsection 
        (c)(2).
            (2) Secretary.--The term ``Secretary'' means the Secretary 
        of the Treasury.
            (3) Trade representative.--The term ``Trade 
        Representative'' means the United States Trade Representative.

SEC. 213. TAX CREDIT FOR QUALIFYING RE-SHORING AND NEAR-SHORING 
              EXPENSES.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by adding at the end 
the following new section:

``SEC. 45BB. QUALIFYING RE-SHORING AND NEAR-SHORING EXPENSES.

    ``(a) In General.--For purposes of section 38, the qualifying re-
shoring and near-shoring expense credit for any taxable year is an 
amount equal to the sum of--
            ``(1) 50 percent of the qualified re-shoring project 
        expenses of the taxpayer, and
            ``(2) 35 percent of the qualified near-shoring project 
        expenses of the taxpayer.
    ``(b) Definitions.--For purposes of this section--
            ``(1) Qualifying re-shoring project expenses.--
                    ``(A) In general.--The term `qualifying re-shoring 
                project expenses' means any eligible expenses which 
                are--
                            ``(i) made pursuant to a qualified re-
                        shoring project, and
                            ``(ii) certified by the Secretary under 
                        subsection (c) as eligible for the credit under 
                        this section.
                    ``(B) Qualifying re-shoring project.--The term 
                `qualifying re-shoring project' means a project under 
                which \2/3\ or more of the operations of a trade or 
                business of the taxpayer is moved from the People's 
                Republic of China to the United States.
            ``(2) Qualifying near-shoring project expenses.--
                    ``(A) In general.--The term `qualifying near-
                shoring project expenses' means any eligible expenses 
                which are--
                            ``(i) made pursuant to a qualified near-
                        shoring project, and
                            ``(ii) certified by the Secretary under 
                        subsection (c) as eligible for the credit under 
                        this section.
                    ``(B) Qualifying near-shoring project.--For 
                purposes of this subpart, the term `qualifying near-
                shoring project' means a project under which \2/3\ or 
                more of the operations of a trade or business of the 
                taxpayer is moved from the People's Republic of China 
                to an Americas partner country.
            ``(3) Eligible expenses.--The term `eligible expenses' 
        means any expenses paid or incurred in connection with moving 
        the operations of the trade or businesses.
            ``(4) Americas partner country.--For purposes of this 
        section, the term `Americas partner country' has the meaning 
        given such term under section 2 of the Americas Act.
    ``(c) Qualifying Re-Shoring and Near-Shoring Project Program.--
            ``(1) Establishment.--
                    ``(A) In general.--Not later than 180 days after 
                the date of enactment of this section, the Secretary, 
                in consultation with the United States Trade 
                Representative, shall establish a qualifying re-shoring 
                and near-shoring project program to consider and award 
                certifications for eligible expenses among taxpayers 
                with qualifying re-shoring projects and qualifying 
                near-shoring projects.
                    ``(B) Limitation.--
                            ``(i) In general.--The total amount of 
                        credits that may be allocated under the program 
                        shall not exceed $10,000,000,000.
                            ``(ii) Sense of congress.--It is the sense 
                        of Congress that the limitation under clause 
                        (i) should be increased after the date on which 
                        the Secretary notifies the Committee on Finance 
                        of the Senate and the Committee on Ways and 
                        Means of the House of Representatives that 80 
                        percent of such limitation has been allocated.
            ``(2) Certification.--
                    ``(A) Application period.--Each applicant for 
                certification under this paragraph shall submit an 
                application containing such information as the 
                Secretary may require.
                    ``(B) Time for making expenses.--Each applicant for 
                certification shall have 5 years from the date of 
                acceptance by the Secretary of the application to pay 
                or incur the eligible expenses certified under the 
                program.
            ``(3) Selection criteria.--In determining which qualifying 
        re-shoring projects and qualifying near-shoring projects to 
        certify under this section, the Secretary--
                    ``(A) shall take into consideration--
                            ``(i) projects which create strategic 
                        supply chains, products, or entities (as 
                        identified under section 254(b) of the Americas 
                        Act) within the United States,
                            ``(ii) projects which create strategic 
                        supply chains, products, or entities (as so 
                        identified) within an Americas partner country, 
                        and
                            ``(iii) projects which create other 
                        industries within the United States or a 
                        Americas partner country,
                    ``(B) shall take into consideration which 
                projects--
                            ``(i) will provide the greatest domestic 
                        job creation (both direct and indirect),
                            ``(ii) will create capital investment, and
                            ``(iii) will increase manufacturing.
            ``(4) Disclosure of allocations.--The Secretary shall, upon 
        making a certification under this subsection, publicly disclose 
        the identity of the applicant and the amount of the credit with 
        respect to such applicant.
    ``(d) Recapture.--
            ``(1) In general.--If there is an applicable transaction 
        before the close of the 10-year period beginning with the first 
        day of the taxable year for which a credit is allowed under 
        this section, then the tax under this chapter for the taxable 
        year in which such transaction occurs shall be increased by the 
        aggregate decrease in the credits allowed under section 38 for 
        all prior taxable years which would have resulted solely from 
        reducing to zero any credit determined under subsection (a).
            ``(2) Exception.--Paragraph (1) shall not apply if the 
        applicable taxpayer demonstrates to the satisfaction of the 
        Secretary that the applicable transaction has been ceased or 
        abandoned within 45 days of a determination and notice by the 
        Secretary.
            ``(3) Applicable transaction.--The term `applicable 
        transaction' means, any significant transaction (as determined 
        by the Secretary, in coordination with the Secretary of 
        Commerce and the Secretary of Defense) involving the material 
        expansion in the People's Republic of China of the operations 
        of the same or similar a trade or business with respect to 
        which the qualifying re-shoring project or qualifying near-
        shoring project relates.
            ``(4) Regulations and guidance.--The Secretary shall issue 
        such regulations or other guidance as the Secretary determines 
        necessary or appropriate to carry out the purposes of this 
        paragraph, including regulations or other guidance which 
        provide for requirements for recordkeeping or information 
        reporting for purposes of administering the requirements of 
        this paragraph.
    ``(e) Denial of Double Benefit.--
            ``(1) In general.--In the case of the amount of the credit 
        determined under this section, no deduction or credit shall be 
        allowed for such amount under any other provision of this 
        chapter.
            ``(2) Basis adjustment.--For purposes of this subtitle, if 
        a credit is allowed under this section with respect to any 
        property, the basis of such property shall be reduced by the 
        amount of the credit so allowed.
    ``(f) Regulations.--The Secretary shall prescribe regulations 
necessary to carry out the purposes of this section.''.
    (b) Credit To Be Part of General Business Credit.--Subsection (b) 
of section 38 of the Internal Revenue Code of 1986 is amended by 
striking ``plus'' at the end of paragraph (40), by striking the period 
at the end of paragraph (41) and inserting ``, plus'', and by adding at 
the end the following new paragraph:
            ``(42) the qualifying re-shoring and near-shoring expense 
        credit determined under section 45BB(a).''.
    (c) Clerical Amendment.--The table of sections for subpart D of 
part IV of subchapter A of chapter 1 of such Code is amended by adding 
at the end the following new item:

``Sec. 45BB. Qualifying re-shoring and near-shoring expenses.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after the 
date of the enactment of this Act.

                    CHAPTER 2--FREE TRADE EXPANSION

SEC. 221. TARIFF RECIPROCITY UNDER GATT 1994.

    (a) Sense of Congress.--It is the sense of Congress that--
            (1) the United States has one of the lowest applied duty 
        rates in the world, with bound duty rates set in parity to 
        applied rates;
            (2) in using article XXVIII of GATT 1994 to renegotiate 
        bound duty rates, the United States can gain flexibility in its 
        tariff schedules, which will provide certainty to treaty-based 
        tariff countries under free trade agreements and provide 
        maneuverability in the case of egregious behavior by other WTO 
        members, including the People's Republic of China; and
            (3) having the lowest bound duty rates has resulted in 
        unsustainable trade deficits that have become an issue for the 
        national security of the United States.
    (b) Increase of Rates and Reciprocity.--
            (1) Increase of rates.--The Trade Representative shall 
        increase average bound duty rates to reflect reciprocal duty 
        rates on goods listed under the Harmonized Tariff Schedule of 
        the United States among WTO members.
            (2) Application.--In increasing bound duty rates under 
        paragraph (1), the Trade Representative is not required to 
        raise applied duty rates.
    (c) Negotiations To Increase Duties.--
            (1) In general.--The Trade Representative shall commence 
        negotiations under article XXVIII of GATT 1994 to increase 
        bound duty rates on all goods.
            (2) Prioritizing.--In carrying out negotiations under 
        paragraph (1), the Trade Representative shall--
                    (A) prioritize the increase of bound duty rates 
                on--
                            (i) goods entering the United States from 
                        countries identified as bad faith actors by the 
                        Secretary of the Treasury for exclusion of 
                        deminimis access; and
                            (ii) goods entering the United States 
                        causing significant harm to industry in the 
                        United States, as determined by the Trade 
                        Representative; and
                    (B) commit to increase rates of duties on imports 
                into the United States if other countries do not 
                decrease their rates in line with those rates in 
                Schedule XX, including through consideration of 
                national averages of duty reciprocity.
    (d) Definitions.--In this section:
            (1) Applied duty rate.--The term ``applied duty rate'' 
        means the actual duty rate applied to a good.
            (2) Bound duty rate.--The term ``bound duty rate'' means 
        the maximum duty rate that may be applied to a good.
            (3) GATT 1994; schedule xx; wto member.--The terms ``GATT 
        1994'', ``Schedule XX'', and ``WTO member'' have the meanings 
        given those terms in section 2 of the Uruguay Round Agreements 
        Act (19 U.S.C. 3501).
            (4) Trade representative.--The term ``Trade 
        Representative'' means the United States Trade Representative.

SEC. 222. EXPANSION OF USMCA OR ESTABLISHMENT OF OTHER REGIONAL TRADE 
              AGREEMENT.

    (a) Sense of Congress.--It is the sense of Congress that--
            (1) the USMCA represents the gold standard for trade 
        agreements, to which other trade agreements should aspire;
            (2) the accession of additional high-standard economies to 
        the USMCA would represent a benefit both to the Western 
        Hemisphere and to the United States;
            (3) the periodic review of the USMCA required in 2026 
        represents an opportunity to negotiate with USMCA countries to 
        create an adhesion mechanism for advanced economies in the 
        Western Hemisphere to join the USMCA;
            (4) Costa Rica and Uruguay, both high-income countries as 
        defined by the World Bank, represent ideal candidates to pilot 
        an accession process for the USMCA, due to--
                    (A) the stated desire of those countries to join 
                the USMCA;
                    (B) the advanced state of the economies of those 
                countries as determined by the Organisation for 
                Economic Co-operation and Development; and
                    (C) the comparatively small nature of the 
                populations and economies of those countries;
            (5) the United States, working closely with USMCA countries 
        and other free trade agreement partners in the Western 
        Hemisphere, should study the potential benefits of aligning 
        rules of origin and allowing for cumulation in strategically 
        selected sectors; and
            (6) unless expressly stated otherwise, no Americas partner 
        country will be required to join the USMCA as a condition of 
        accepting any benefits afforded to Americas partner countries 
        under this Act.
    (b) Development of Accession Mechanism.--
            (1) In general.--The United States Trade Representative, in 
        conducting the periodic review of the USMCA required to be 
        conducted in 2026, may seek agreement with USMCA countries to 
        develop a mechanism for accession of additional countries to 
        the USMCA.
            (2) Treatment of textiles and apparel goods.--
                    (A) Rules of origin.--For purposes of the accession 
                to the USMCA pursuant to the mechanism developed under 
                paragraph (1), the rules of origin under the USMCA for 
                textile and apparel goods shall not go into effect or 
                otherwise be applicable to textile and apparel goods of 
                an Americas partner country that accedes to the USMCA 
                during--
                            (i) the 15-year period following formal 
                        accession of that country to the USMCA; and
                            (ii) an additional 5-year period if 
                        determined appropriate pursuant to the study 
                        conducted under subparagraph (B).
                    (B) Study on textile and apparel impact.--Not later 
                than 12 years after the accession of an Americas 
                partner country to the USMCA pursuant to the mechanism 
                developed under paragraph (1), the United States 
                International Trade Commission shall commission a study 
                to analyze the negative and positive impacts of that 
                accession on--
                            (i) the textile and apparel sector of the 
                        country that joined the USMCA;
                            (ii) the United States textile and apparel 
                        sector;
                            (iii) the textile and apparel sectors of 
                        all countries that are Americas partner 
                        countries at the time when the study is 
                        commissioned; and
                            (iv) the textile and apparel sectors of all 
                        six Latin American and Caribbean countries that 
                        belonged to the Dominican Republic-Central 
                        America-United States Free Trade Agreement as 
                        of February 2024, referring to Costa Rica, the 
                        Dominican Republic, El Salvador, Guatemala, 
                        Honduras, and Nicaragua.
    (c) Study.--
            (1) In general.--The Secretary of the Treasury shall 
        conduct a study on the feasibility and advisability of 
        expanding the USMCA or carrying out other trade-related 
        approaches for--
                    (A) harmonization;
                    (B) cumulation;
                    (C) co-creation; and
                    (D) intra-regional trade, investment, and standards 
                harmonization.
            (2) Report.--Not later than one year after the date of the 
        enactment of this Act, the Secretary of the Treasury shall 
        submit to Congress a report on the study conducted under 
        paragraph (1).
    (d) Sense of Congress.--It is the sense of Congress that Americas 
partner countries that benefit from free trade agreements with the 
United States or trade preferences programs of the United States will 
retain the benefits and responsibilities of those agreements until and 
unless they accede to the USMCA through the process developed pursuant 
to this section.

SEC. 223. AMERICAS PARTNERSHIP THRESHOLD PROGRAM.

    (a) In General.--There is established within the Department of 
Commerce a program to be known as the Americas Partnership Threshold 
Program under which the Secretary of Commerce shall work with Americas 
partner countries that express an interest in potentially acceding to 
the USMCA--
            (1) to prepare those countries for a possible process for 
        accession to the USMCA;
            (2) to bring those countries up to the standards of the 
        USMCA; and
            (3) no Americas partner country will be required to join 
        the USMCA as a condition of accepting benefits under this 
        section.
    (b) Assessment.--
            (1) In general.--In carrying out the program required under 
        subsection (a), the United States Trade Representative shall 
        conduct an assessment of each Americas partner country related 
        to the trade-related standards of each such country, which 
        shall include--
                    (A) an identification of shortcomings that would 
                impede accession to the USMCA; and
                    (B) a programmatic strategy to bring each such 
                country into compliance with the standards of the 
                USMCA.
            (2) Submission of assessment.--The United States Trade 
        Representative shall submit any assessment conducted under 
        paragraph (1) to--
                    (A) the Deputy Under Secretary of Commerce for 
                International Trade and the Executive Secretariat of 
                the Department of Commerce; and
                    (B) the Committee on Finance of the Senate and the 
                Committee on Ways and Means of the House of 
                Representatives.
    (c) Administration.--The Secretary of Commerce, in coordination 
with the Secretary of State and the Administrator of the United States 
Agency for International Development, shall implement this section 
through acquisition or assistance mechanisms.
    (d) Funding.--Amounts required to carry out this section shall be 
derived from the Re-Shoring and Near-Shoring Account established under 
section 301.

SEC. 224. EXPANSION OF BENEFICIARIES UNDER UNITED STATES-CARIBBEAN 
              BASIN TRADE PARTNERSHIP ACT.

    (a) Sense of Congress.--It is the sense of Congress that trade 
preferences under the Caribbean Basin Economic Recovery Act (19 U.S.C. 
2701 et seq.) should be extended to Americas partner countries that do 
not benefit from any trade preference agreement with the United States 
as a stop-gap measure before accession to the USMCA or another regional 
trade agreement under section 222.
    (b) Expansion.--
            (1) In general.--Section 213(b)(5)(B) of the Caribbean 
        Basin Economic Recovery Act (19 U.S.C. 2703(b)(5)(B)) is 
        amended--
                    (A) in the matter preceding clause (i)--
                            (i) by striking ``means any'' and inserting 
                        ``means Uruguay, Ecuador, and any''; and
                            (ii) by inserting ``or Americas partner 
                        country, as defined in section 2 of the 
                        Americas Act,'' before ``which the President''; 
                        and
                    (B) in clause (i), in the matter preceding 
                subclause (I), by striking ``beneficiary''.
            (2) Negotiation.--In negotiating any expansion to trade 
        preferences under the Caribbean Basin Economic Recovery Act (19 
        U.S.C. 2701 et seq.), the United States Trade Representative 
        shall exclude preferences for goods that harm producers in the 
        United States.

SEC. 225. EXCLUSION OF CERTAIN COUNTRIES FROM CERTAIN PREFERENTIAL 
              TRADE TREATMENT.

    Notwithstanding any other provision of law, countries that are 
members of the Bolivarian Alliance for the Peoples of Our America, as 
determined by the President, are ineligible for preferential trade 
treatment pursuant to--
            (1) section 213(b) of the Caribbean Basin Economic Recovery 
        Act (19 U.S.C. 2703(b));
            (2) any provision of, or amendment made by, this Act; and
            (3) any free trade agreement with respect to which the 
        United States is a party.

SEC. 226. EXTENSION OF TRADE PROMOTION AUTHORITY TO AMERICAS PARTNER 
              COUNTRIES FOR PURPOSES OF EXPANSION OF USMCA.

    (a) Agreements Regarding Tariff Barriers.--
            (1) In general.--For purposes of advancing trade with 
        Americas partner countries, whenever the President determines 
        that one or more existing duties or other import restrictions 
        of an Americas partner country or the United States are unduly 
        burdening and restricting the foreign trade of the United 
        States and that the purposes, policies, priorities, and 
        objectives of expanding the USMCA to include that country will 
        be promoted thereby, the President--
                    (A) may enter into trade agreements with an 
                Americas partner country for the purposes of the 
                accession of that country into the USMCA; and
                    (B) may proclaim such modification or continuance 
                of any existing duty, such continuance of existing duty 
                free or excise treatment, or such additional duties as 
                the President determines to be required or appropriate 
                to carry out that trade agreement.
            (2) Congressional approval.--The President shall seek 
        approval from Congress to enter into a trade agreement under 
        this subsection.
    (b) Agreements Regarding Tariff and Nontariff Barriers.--
            (1) Agreements.--
                    (A) In general.--Whenever the President determines 
                that one or more existing duties or any other import 
                restriction of an Americas partner country or the 
                United States or any other barrier to, or other 
                distortion of, international trade unduly burdens or 
                restricts the foreign trade of the United States or 
                adversely affects the United States economy or the 
                imposition of any such barrier or distortion is likely 
                to result in such a burden, restriction, or effect, and 
                that the purposes, policies, priorities, and objectives 
                of expanding the USMCA to include that country will be 
                promoted thereby, the President may enter into a trade 
                agreement described in subparagraph (B).
                    (B) Trade agreement described.--A trade agreement 
                described in this subparagraph is a trade agreement 
                with an Americas partner country or Americas partner 
                countries providing for--
                            (i) the reduction or elimination of a duty, 
                        restriction, barrier, or other distortion; or
                            (ii) the prohibition of, or limitation on 
                        the imposition of, such barrier or other 
                        distortion.
            (2) Conditions.--A trade agreement may be entered into 
        under this subsection only if such agreement makes progress in 
        meeting the objectives of the USMCA and the Caribbean Basin 
        Economic Recovery Act (19 U.S.C. 2701 et seq.).
            (3) Bills qualifying for trade authorities procedures.--
                    (A) In general.--The provisions of section 151 of 
                the Trade Act of 1974 (19 U.S.C. 2191) apply to a bill 
                of either House of Congress that contains provisions 
                described in subparagraph (B) to the same extent as 
                such section 151 applies to implementing bills under 
                that section.
                    (B) Provisions described.--The provisions described 
                in this subparagraph are--
                            (i) a provision approving a trade agreement 
                        entered into under this subsection and 
                        approving the statement of administrative 
                        action, if any, proposed to implement such 
                        trade agreement; and
                            (ii) if changes in existing laws or new 
                        statutory authority are required to implement 
                        that trade agreement, only those provisions as 
                        are strictly necessary or appropriate to 
                        implement that trade agreement, either 
                        repealing or amending existing laws or 
                        providing new statutory authority.
    (c) Negotiations.--
            (1) In general.--The President may carry out negotiations 
        with Americas partner countries for purposes of entering into a 
        trade agreement under this section.
            (2) Sectors.--Sectors included in negotiations under 
        paragraph (1) shall include agriculture, critical minerals, 
        commercial services, intellectual property rights, industrial 
        and capital goods, government procurement, information 
        technology products, environmental technology and services, 
        medical equipment and services, civil aircraft, digital 
        products and services, emerging technologies, and 
        infrastructure products.
            (3) Consideration of negotiating objectives.--In conducting 
        negotiations under paragraph (1), the President shall take into 
        account all of the negotiating objectives set forth in section 
        102 of the Bipartisan Congressional Trade Priorities and 
        Accountability Act of 2015 (19 U.S.C. 4201).
    (d) Annual Report.--Not later than 180 days after the date of the 
enactment of this Act, and annually thereafter, the President shall 
submit to the Committee on Finance of the Senate and the Committee on 
Ways and Means of the House of Representatives a report on the 
implementation of this section, including--
            (1) a description of any negotiations entered into with 
        countries that seek to accede to the USMCA;
            (2) a description of any negotiations entered into with 
        countries that seek to be a CBTPA beneficiary country, as 
        defined in section 213(b)(5) of the Caribbean Basin Economic 
        Recovery Act (19 U.S.C. 2703(b)(5)), as amended by section 224;
            (3) a description of any trade agreements entered into 
        pursuant to the authority under this section; and
            (4) a full list of duties and duty-free items under trade 
        agreements entered into pursuant to the authority under this 
        section.

                     CHAPTER 3--TEXTILE AND APPAREL

SEC. 231. TEXTILE AND APPAREL GRANT PROGRAM.

    (a) In General.--The Secretary of Commerce shall establish a 
program under which the Secretary shall award grants to textile or 
apparel manufacturers that either have their headquarters in the United 
States or in an Americas partner country or that are determined by the 
Secretary to have a significant presence in an Americas partner country 
to help offset the considerable financial resources needed to expand or 
modernize domestic textile and apparel supply chain capacity.
    (b) Use of Grant Amounts.--A textile or apparel manufacturer in 
receipt of a grant awarded under this section shall use the amounts of 
that grant for new facilities or equipment, to retool old equipment, or 
to create or expand operations for textile and apparel production in 
the United States or an Americas partner country.
    (c) Administration.--In carrying out this section, the Secretary--
            (1) shall permit advances of grant amounts to 
        manufacturers--
                    (A) prior to making qualifying expenditures; or
                    (B) as qualifying expenditures are made;
            (2) shall require a manufacturer to comply with safety, 
        labor, and environmental standards specified by the Secretary, 
        in consultation with the Secretary of Labor, the Administrator 
        of the Environmental Protection Agency, and the Director of the 
        National Institute of Standards and Technology; and
            (3) may scale the amount of a grant depending on 
        incremental employment achieved by the manufacturer.
    (d) Authorization of Appropriations.--There is authorized to be 
appropriated to the Secretary $105,000,000 for each of the fiscal years 
2025 through 2029 to carry out the program under this section. Amounts 
authorized to be appropriated under this subsection are authorized to 
be obligated and expended in both the United States and in Americas 
partner countries.

SEC. 232. TEXTILE REUSE AND RECYCLING PROGRAMS.

    (a) Sense of Congress.--It is the sense of Congress that--
            (1) textiles make up more than 10 percent of global 
        greenhouse gas emissions; and
            (2) textiles are the single most common product made with 
        slave labor in the People's Republic of China.
    (b) Priority Access to Grants and Loans for Textile Reuse and 
Recycling.--The Secretary of the Treasury shall give priority access to 
grants or loans of amounts under the Re-Shoring and Near-Shoring 
Account established under section 301 for persons seeking to carry out 
programs to reuse or recycle covered products.
    (c) Manufacturing Support Programs.--
            (1) Facilities and transport.--
                    (A) In general.--The Secretary of Commerce shall 
                establish a program under which the Secretary provides 
                grants and loans for the purpose of establishing new or 
                expanding or retrofitting existing facilities and 
                providing low-carbon emissions transportation for 
                collection, drop off or mail back, sorting, pre-
                processing, reuse, or recycling of covered products.
                    (B) Authorization of appropriations.--There is 
                authorized to be appropriated $250,000,000 to carry out 
                the program required under subparagraph (A).
            (2) Provision of components and machinery.--
                    (A) In general.--The Secretary of Commerce shall 
                establish a program under which the Secretary provides 
                grants and loans to entities for the provision of 
                components, chemicals, solvents, or machinery necessary 
                for the transportation, collection, mail back, sorting, 
                pre-processing, reuse, or recycling of covered 
                products.
                    (B) Authorization of appropriations.--There is 
                authorized to be appropriated $250,000,000 to carry out 
                the program required under subparagraph (A).
    (d) Innovation Program.--
            (1) In general.--The President shall carry out an 
        innovation program for research and development related to 
        textile reuse and recycling.
            (2) Authorization of appropriations.--There is authorized 
        to be appropriated $250,000,000 to carry out the innovation 
        program required under paragraph (1).
    (e) Public Education Program.--
            (1) In general.--The President shall carry out a public 
        education program on the dangers of fast fashion.
            (2) Authorization of appropriations.--There is authorized 
        to be appropriated $50,000,000 to carry out the public 
        education program required under paragraph (1).
    (f) Recycled Certification Process.--For purposes of carrying out 
this section, the President shall ensure that all recycled finished 
textiles are certified under a globally recognized independent third-
party assurance process.
    (g) Funding.--The Secretary of State may expend such sums as may be 
necessary from the Re-shoring and Near-shoring Account established 
under section 301 to carry out this section.
    (h) Definitions.--In this section:
            (1) Covered product.--The term ``covered product'' means--
                    (A) textiles that are no longer wanted by an 
                individual after purchase or cannot be sold by a 
                business through retail;
                    (B) recycled secondary textile raw materials and 
                fibers; or
                    (C) recycled finished textile products.
            (2) Pre-processing.--The term ``pre-processing'', with 
        respect to a covered product, means preparing that product to 
        be fit for recycling, which may include detrimming or other 
        manual, mechanical, or chemical means.
            (3) Recycle.--
                    (A) In general.--The term ``recycle'', with respect 
                to covered products, means significantly transforming 
                those products into new finished or unfinished goods 
                for use of those products in that form.
                    (B) Transformation.--A transformation under 
                subparagraph (A) can take place through the 
                deconstruction of a covered product for use in 
                manufacturing new materials out of that product, 
                whether through mechanical or advanced recycling 
                methods.
                    (C) Certification.--A covered product qualifies as 
                a recycled good for purposes of this paragraph as 
                certified by a globally recognized independent third-
                party assurance process managed according to the waste 
                hierarchy for waste management developed by the United 
                Nations and the Environmental Protection Agency.
            (4) Reuse.--The term ``reuse'', with respect to covered 
        products that are finished textile goods, means resale, repair, 
        rental, or upcycling (also known as remanufacturing) of those 
        goods.
            (5) Sorting.--The term ``sorting'', with respect to covered 
        products, means manually or mechanically sorting those products 
        for reuse or recycling.
            (6) Textile.--The term ``textile'' means apparel, footwear, 
        accessories, and household linens.

SEC. 233. TEXTILE PRODUCTION VERIFICATION TEAMS.

    (a) In General.--The Commissioner of U.S. Customs and Border 
Protection shall deploy to Americas partner countries permanent textile 
production verification teams to ensure the integrity of the textile 
supply chains of those countries.
    (b) Visits.--
            (1) Countries.--Textile production verification teams under 
        subsection (a) shall by deployed to an Americas partner country 
        not less frequently than once each year.
            (2) Companies.--Textile production verification teams under 
        subsection (a) may not visit the same company in consecutive 
        visits to a country unless following up on a previous positive 
        determination of malfeasance.

SEC. 234. TAX BENEFITS FOR APPAREL AND HOME TEXTILE PRODUCTS.

    (a) Exclusion of Income From Sales of Certain Products.--
            (1) In general.--Part III of subchapter B of chapter 1 of 
        the Internal Revenue Code of 1986 is amended by inserting after 
        section 139I the following new sections:

``SEC. 139J. SALES OF FINISHED TEXTILE PRODUCTS IMPORTED FROM 
              QUALIFYING WESTERN HEMISPHERE COUNTRIES.

    ``(a) In General.--In the case of a corporation, gross income shall 
not include any income from the qualifying domestic sale of qualified 
finished textile products.
    ``(b) Qualifying Domestic Sale.--For purposes of this section--
            ``(1) In general.--The term `qualifying domestic sale' 
        means any sale or exchange within the United States.
            ``(2) Related persons.--
                    ``(A) In general.--Such term shall not include any 
                sale to a related person.
                    ``(B) Related person.--For purposes of subparagraph 
                (A), a person shall be treated as related to another 
                person if such persons are treated as a single employer 
                under subsection (a) or (b) of section 52 or subsection 
                (m) or (o) of section 414, except that determinations 
                under subsections (a) and (b) of section 52 shall be 
                made without regard to section 1563(b).
    ``(c) Qualified Finished Textile Products.--For purposes of this 
section--
            ``(1) In general.--The term `qualified finished textile 
        products' means any inventory property (as defined in section 
        865(i)(1)) which--
                    ``(A) is a finished textile product, and
                    ``(B) is--
                            ``(i) an originating good under section 
                        202(c) of the United States-Mexico-Canada 
                        Agreement Implementation Act (19 U.S.C. 4531), 
                        section 203(b) of the Dominican Republic-
                        Central America-United States Free Trade 
                        Agreement Implementation Act (19 U.S.C. 
                        4033(b)), or a comparable provision of an Act 
                        to implement a free trade agreement between the 
                        United States and a qualifying Western 
                        Hemisphere country, or
                            ``(ii) an eligible article under section 
                        213 of the Caribbean Basin Economic Recovery 
                        Act (19 U.S.C. 2703).
            ``(2) Finished textile product.--The term `finished textile 
        product' means a product put up for retail sale that is--
                    ``(A) classifiable under chapters 50 through 63 of 
                the Harmonized Tariff Schedule of the United States; or
                    ``(B) any textile-based product contained in 
                chapter 39, 42, 64, 65, 66, 70, 94, or 96 of the 
                Harmonized Tariff Schedule of the United States.
            ``(3) Qualifying western hemisphere country.-- The term 
        `qualifying Western Hemisphere country' means any country--
                    ``(A) which is located in the Western Hemisphere, 
                and
                    ``(B) with which the United States has a free trade 
                agreement in effect.

``SEC. 139K. TEXTILE FIBER PRODUCTS EXPORTED TO QUALIFYING WESTERN 
              HEMISPHERE COUNTRIES.

    ``(a) In General.--In the case of a corporation, gross income shall 
not include any income from the qualifying foreign sale of any 
qualified textile fiber product.
    ``(b) Qualifying Foreign Sale.--For purposes of this section--
            ``(1) In general.--The term `qualifying foreign sale' means 
        any sale or exchange which the taxpayer establishes to the 
        satisfaction of the Secretary is for any use, disposition, or 
        consumption within a qualifying Western Hemisphere country (as 
        defined in section 139J).
            ``(2) Special rules.--For purposes of this subsection, 
        rules similar to the rules of subparagraphs (B)(i) and (C)(i) 
        of section 250(b)(5) shall apply.
    ``(c) Qualified Textile Fiber Product.--For purposes of this 
section--
            ``(1) In general.--The term `qualifying textile fiber 
        product' means any inventory property (as defined in section 
        865(i)(1)) which--
                    ``(A) is a textile fiber product; and
                    ``(B) is--
                            ``(i) an originating good under section 
                        202(c) of the United States-Mexico-Canada 
                        Agreement Implementation Act (19 U.S.C. 4531), 
                        section 203(b) of the Dominican Republic-
                        Central America-United States Free Trade 
                        Agreement Implementation Act (19 U.S.C. 
                        4033(b)), or a comparable provision of an Act 
                        to implement a free trade agreement between the 
                        United States and a qualifying Western 
                        Hemisphere country; or
                            ``(ii) an eligible article under section 
                        213 of the Caribbean Basin Economic Recovery 
                        Act (19 U.S.C. 2703).
            ``(2) Textile fiber product.--The term `textile fiber 
        product' means a product put up for sale that is--
                    ``(A) classifiable under any of chapters 50 through 
                63 of the Harmonized Tariff Schedule of the United 
                States; or
                    ``(B) a textile-based product contained in chapter 
                39, 42, 64, 65, 66, 70, 94, or 96 of the Harmonized 
                Tariff Schedule of the United States.''.
            (2) Net operating losses.--Section 172(d) of the Internal 
        Revenue Code of 1986 is amended by adding at the end the 
        following new paragraph:
            ``(10) Exclusions for certain textile products.--Gross 
        income shall be determined without regard to section 139J and 
        139K.''.
            (3) Clerical amendment.--The table of sections for part III 
        of subchapter B of chapter 1 of such Code is amended by 
        inserting after the item relating to section 139I the following 
        new items:

``Sec. 139J. Sales of finished textile products imported from 
                            qualifying Western Hemisphere countries.
``Sec. 139K. Textile fiber products exported to qualifying Western 
                            Hemisphere countries.''.
            (4) Effective date.--The amendments made by this subsection 
        shall apply to taxable years beginning after the date of the 
        enactment of this Act.
    (b) Deduction for Domestic Production of Textile Fiber Products.--
            (1) In general.--Part VIII of subchapter B of chapter 1 of 
        the Internal Revenue Code of 1986 is amended by adding at the 
        end the following new section:

``SEC. 251. INCOME ATTRIBUTABLE TO DOMESTIC TEXTILE PRODUCTION 
              ACTIVITIES.

    ``(a) In General.--In the case of a corporation, there shall be 
allowed as a deduction an amount equal to 9 percent of the lesser of--
            ``(1) the qualified textile production activities income of 
        the taxpayer for the taxable year, or
            ``(2) taxable income (determined without regard to this 
        section) for the taxable year.
    ``(b) Deduction Limited to Wages Paid.--
            ``(1) In general.--The amount of the deduction allowable 
        under subsection (a) for any taxable year shall not exceed 50 
        percent of the W-2 wages of the taxpayer for the taxable year.
            ``(2) W-2 wages.--For purposes of this section--
                    ``(A) In general.--The term `W-2 wages' means, with 
                respect to any person for any taxable year of such 
                person, the sum of the amounts described in paragraphs 
                (3) and (8) of section 6051(a) paid by such person with 
                respect to employment of employees by such person 
                during the calendar year ending during such taxable 
                year.
                    ``(B) Limitation to wages attributable to domestic 
                textile production.--Such term shall not include any 
                amount which is not properly allocable to domestic 
                textile production gross receipts for purposes of 
                subsection (c)(1).
                    ``(C) Return requirement.--Such term shall not 
                include any amount which is not properly included in a 
                return filed with the Social Security Administration on 
                or before the 60th day after the due date (including 
                extensions) for such return.
            ``(3) Acquisitions, dispositions, and short taxable 
        years.--The Secretary shall provide for the application of this 
        subsection in cases of a short taxable year or where the 
        taxpayer acquires, or disposes of, the major portion of a trade 
        or business or the major portion of a separate unit of a trade 
        or business during the taxable year.
    ``(c) Qualified Textile Production Activities Income.--For purposes 
of this section--
            ``(1) In general.--The term `qualified textile production 
        activities income' for any taxable year means an amount equal 
        to the excess (if any) of--
                    ``(A) the taxpayer's domestic textile production 
                gross receipts for such taxable year, over
                    ``(B) the sum of--
                            ``(i) the cost of goods sold that are 
                        allocable to such receipts, and
                            ``(ii) other expenses, losses, or 
                        deductions (other than the deduction allowed 
                        under this section), which are properly 
                        allocable to such receipts.
            ``(2) Allocation method.--The Secretary shall prescribe 
        rules for the proper allocation of items described in paragraph 
        (1) for purposes of determining qualified textile production 
        activities income. Such rules shall provide for the proper 
        allocation of items whether or not such items are directly 
        allocable to domestic textile production gross receipts.
            ``(3) Special rules for determining costs.--
                    ``(A) In general.--For purposes of determining 
                costs under clause (i) of paragraph (1)(B), any item or 
                service brought into the United States shall be treated 
                as acquired by purchase, and its cost shall be treated 
                as not less than its value immediately after it entered 
                the United States. A similar rule shall apply in 
                determining the adjusted basis of leased or rented 
                property where the lease or rental gives rise to 
                domestic textile production gross receipts.
                    ``(B) Exports for further manufacture.--In the case 
                of any property described in subparagraph (A) that had 
                been exported by the taxpayer for further manufacture, 
                the increase in cost or adjusted basis under 
                subparagraph (A) shall not exceed the difference 
                between the value of the property when exported and the 
                value of the property when brought back into the United 
                States after the further manufacture.
            ``(4) Domestic textile production gross receipts.--
                    ``(A) In general.--The term `domestic textile 
                production gross receipts' means the gross receipts of 
                the taxpayer which are derived from any lease, rental, 
                license, sale, exchange, or other disposition of 
                textile fiber product (as defined in section 139K) 
                which was manufactured, produced, or grown by the 
                taxpayer in whole or in significant part within the 
                United States.
                    ``(B) Exception.--Such term shall not include any 
                gross receipts--
                            ``(i) from the qualifying foreign sale (as 
                        defined in section 139K) of qualifying textile 
                        fiber products (as defined in such section), or
                            ``(ii) from activities described in section 
                        199B(b)(1)(A).
                    ``(C) Special rule for certain government 
                contracts.--Gross receipts derived from the manufacture 
                or production of any property described in subparagraph 
                (A) shall be treated as meeting the requirements of 
                subparagraph (A) if--
                            ``(i) such property is manufactured or 
                        produced by the taxpayer pursuant to a contract 
                        with the Federal Government, and
                            ``(ii) the Federal Acquisition Regulation 
                        requires that title or risk of loss with 
                        respect to such property be transferred to the 
                        Federal Government before the manufacture or 
                        production of such property is complete.
                    ``(D) Partnerships owned by expanded affiliated 
                groups.--For purposes of this paragraph, if all of the 
                interests in the capital and profits of a partnership 
                are owned by members of a single expanded affiliated 
                group at all times during the taxable year of such 
                partnership, the partnership and all members of such 
                group shall be treated as a single taxpayer during such 
                period.
            ``(5) Related persons.--
                    ``(A) In general.--The term `domestic textile 
                production gross receipts' shall not include any gross 
                receipts of the taxpayer derived from property leased, 
                licensed, or rented by the taxpayer for use by any 
                related person.
                    ``(B) Related person.--For purposes of subparagraph 
                (A), a person shall be treated as related to another 
                person if such persons are treated as a single employer 
                under subsection (a) or (b) of section 52 or subsection 
                (m) or (o) of section 414, except that determinations 
                under subsections (a) and (b) of section 52 shall be 
                made without regard to section 1563(b).
    ``(d) Definitions and Special Rules.--
            ``(1) Special rule for affiliated groups.--
                    ``(A) In general.--All members of an expanded 
                affiliated group shall be treated as a single 
                corporation for purposes of this section.
                    ``(B) Expanded affiliated group.--For purposes of 
                this section, the term `expanded affiliated group' 
                means an affiliated group as defined in section 
                1504(a), determined--
                            ``(i) by substituting `more than 50 
                        percent' for `at least 80 percent' each place 
                        it appears, and
                            ``(ii) without regard to paragraphs (2) and 
                        (4) of section 1504(b).
                    ``(C) Allocation of deduction.--Except as provided 
                in regulations, the deduction under subsection (a) 
                shall be allocated among the members of the expanded 
                affiliated group in proportion to each member's 
                respective amount (if any) of qualified textile 
                production activities income.
            ``(2) Trade or business requirement.--This section shall be 
        applied by only taking into account items which are 
        attributable to the actual conduct of a trade or business.
            ``(3) Unrelated business taxable income.--For purposes of 
        determining the tax imposed by section 511, subsection 
        (a)(1)(B) shall be applied by substituting `unrelated business 
        taxable income' for `taxable income'.
            ``(4) Regulations.--The Secretary shall prescribe such 
        regulations as are necessary to carry out the purposes of this 
        section, including regulations which prevent more than 1 
        taxpayer from being allowed a deduction under this section with 
        respect to any activity described in subsection (c)(4)(A).''.
            (2) Conforming amendments.--
                    (A)(i) Section 74(d)(2)(B) of the Internal Revenue 
                Code of 1986 is amended by inserting ``251,'' after 
                ``221,''.
                    (ii) Section 246(b)(1) of such Code is amended by 
                inserting ``251,'' after ``243(a)(1),''.
                    (iii) Section 469(i)(3)(E)(iii) of such Code is 
                amended by inserting ``251,'' after ``250,''.
                    (B) Section 170(b)(2)(D) of such Code is amended by 
                striking the period at the end of clause (v) and 
                inserting ``, and'' and by adding at the end the 
                following new clause:
                            ``(vi) section 251.''.
                    (C) Section 172(d) of such Code, as amended by this 
                Act, is amended by adding at the end the following new 
                paragraph:
            ``(11) The deduction under section 251 shall not be 
        allowed.''.
            (3) Clerical amendment.--The table of sections for part 
        VIII of subchapter B of chapter 1 of such Code is amended by 
        adding at the end the following new item:

``Sec. 251. Income attributable to domestic textile production 
                            activities.''.
            (4) Effective date.--The amendments made by this subsection 
        shall apply to taxable years beginning after the date of the 
        enactment of this Act.
    (c) Deduction for Reused and Recycled Textiles.--
            (1) In general.--Part VI of subchapter B of the Internal 
        Revenue Code of 1986 is amended by adding at the end the 
        following new section:

``SEC. 199B. TEXTILE REUSE AND RECYCLING ACTIVITY INCOME.

    ``(a) In General.--There shall be allowed a deduction equal to 15 
percent of the qualified textile reuse and recycling activity income of 
the taxpayer for the taxable year.
    ``(b) Qualified Textile Reuse and Recycling Activity Income.--For 
purposes of this section--
            ``(1) In general.--The term `qualified textile reuse and 
        recycling activity income' means the excess (if any) of--
                    ``(A) the gross income of the taxpayer derived in 
                the course of a trade or business from--
                            ``(i) the resale, repair, rental, or 
                        remanufacturing of finished textile products,
                            ``(ii) the transformation of otherwise 
                        unsalable textile fiber products into new 
                        finished or unfinished goods,
                            ``(iii) the collection of textile fiber 
                        products,
                            ``(iv) the sorting of finished textile 
                        products and textile fiber products for 
                        activities described in clause (i) or (ii), and
                            ``(v) the preparation of textile fiber 
                        products for activities described in clause 
                        (ii), over
                    ``(B) the deductions (including taxes) properly 
                allocable to such gross income.
            ``(2) Finished textile products.--The term `finished 
        textile products' has the meaning given such term under section 
        139J(c).
            ``(3) Textile fiber products.--The term `textile fiber 
        products' has the meaning given such term under section 
        139K(c).
    ``(c) Special Rules.--
            ``(1) Application to partnerships and s corporations.--In 
        the case of a partnership or S corporation--
                    ``(A) this section shall be applied at the partner 
                or shareholder level, and
                    ``(B) each partner or shareholder shall take into 
                account such person's allocable share of each qualified 
                item of income, gain, deduction, and loss.
            ``(2) Coordination with minimum tax.--For purposes of 
        determining alternative minimum taxable income under section 
        55, qualified textile reuse and recycling activity income shall 
        be determined without regard to any adjustments under sections 
        56 through 59.''.
            (2) Coordination with deduction for qualified business 
        income.--Section 199A(c)(3)(B) of the Internal Revenue Code of 
        1986 is amended by redesignating clause (vii) as clause (viii) 
        and by inserting after clause (vi) the following new clause:
                            ``(vii) Any item of income, gain, 
                        deduction, or loss taken into account under 
                        section 199B(b)(1).''.
            (3) Conforming amendments.--
                    (A)(i) Section 74(d)(2)(B) of the Internal Revenue 
                Code of 1986 is amended by inserting ``199B,'' after 
                ``137,''.
                    (ii) Section 86(b)(2)(A) of such Code is amended by 
                inserting ``199B,'' after ``137,''.
                    (iii) Section 135(c)(4)(A) of such Code is amended 
                by inserting ``199B,'' after ``137,''.
                    (iv) Section 137(b)(3)(A) of such Code is amended 
                by inserting ``199B,'' before ``221,''.
                    (v) Section 219(g)(3)(A)(ii) of such Code is 
                amended by inserting ``199B,'' after ``137,''.
                    (vi) Section 221(b)(2)(C)(i) of such Code is 
                amended by inserting ``199B,'' before ``911,''.
                    (vii) Section 246(b)(1) of such Code is amended by 
                inserting ``199B,'' after ``199A,''.
                    (viii) Section 469(i)(3)(E)(iii) of such Code is 
                amended by inserting ``199B,'' before ``219,''.
                    (B) Section 170(b)(2)(D) of such Code, as amended 
                by subsection (b), is amended by striking the period at 
                the end of clause (vi) and inserting ``, and'' and by 
                adding at the end the following new clause:
                            ``(vii) section 199B.''.
                    (C) Section 172(d) of such Code, as amended by 
                subsection (b), is amended by adding at the end the 
                following new paragraph:
            ``(12) The deduction under section 199B shall not be 
        allowed.''.
            (4) Clerical amendment.--The table of sections for part VI 
        of subchapter B of chapter 1 of such Code is amended by adding 
        at the end the following new item:

``Sec. 199B. Textile reuse and recycling activity income.''.
            (5) Effective date.--The amendments made by this subsection 
        shall apply to taxable years beginning after the date of the 
        enactment of this Act.

                      CHAPTER 4--TRADE ENFORCEMENT

SEC. 241. ESTABLISHMENT OF SPECIAL ENFORCEMENT UNIT OF U.S. CUSTOMS AND 
              BORDER PROTECTION TO MONITOR THE IMPLEMENTATION OF UYGHUR 
              FORCED LABOR PREVENTION ACT.

    (a) Establishment.--There is established in the Office of 
International Affairs of U.S. Customs and Border Protection a special 
enforcement unit tasked with monitoring the implementation by the 
United States of the Act entitled ``An Act to ensure that goods made 
with forced labor in the Xinjiang Autonomous Region of the People's 
Republic of China do not enter the United States market, and for other 
purposes'', approved December 23, 2021 (Public Law 117-78; 135 Stat. 
1525) (commonly referred to as the ``Uyghur Forced Labor Prevention 
Act'').
    (b) Coordination.--The special enforcement unit established under 
subsection (a) shall coordinate with the trade remedy law enforcement 
unit of U.S. Customs and Border Protection.
    (c) Staff.--
            (1) Agents.--The special enforcement unit established under 
        subsection (a) may deploy agents as necessary for the effective 
        functioning of the unit.
            (2) Positions at embassies.--The special enforcement unit 
        established under subsection (a) may deploy permanent NSDD-38 
        positions stationed at each embassy of the United States in an 
        Americas partner country for the coordination of the efforts of 
        the unit.

SEC. 242. AUTHORIZATION OF PAYMENTS TO WHISTLEBLOWERS RELATING TO MONEY 
              LAUNDERING OR ILLICIT FINANCIAL TRANSACTIONS.

    The Executive Associate Director of Homeland Security 
Investigations may pay to whistleblowers who disclose to the Secretary 
of Homeland Security any violations of laws prohibiting money 
laundering or illicit financial transactions an amount not to exceed 30 
percent of the value of any assets seized in connection with such 
violations.

SEC. 243. ESTABLISHMENT OF BORDERS AND PORTS PROTECTION PROGRAM.

    (a) In General.--The Commissioner, in consultation with the 
Secretary of State, the Secretary of Homeland Security, and the heads 
of such other Federal agencies as the President considers appropriate, 
shall establish a program to be known as the Borders and Ports 
Protection Program (referred to in this section as the ``Program'').
    (b) Borders and Ports Protection Unit.--
            (1) In general.--Under the Program, the Commissioner shall 
        assist Americas partner countries that are seeking to join the 
        Program and are selected by the Commissioner in the 
        establishment of a borders and ports protection unit.
            (2) Consultation with congress.--In selecting Americas 
        partner countries under paragraph (1), the Commissioner shall 
        consult with Congress.
            (3) Consent requirement.--The Commissioner shall not 
        provide the support of a border and ports protection unit to an 
        Americas partner country without first receiving express 
        consent from the government of that Americas partner country.
    (c) Elements of Program.--In carrying out the Program, the 
Commissioner may support the efforts of customs administrations and 
border security agencies of Americas partner countries selected under 
subsection (b) to create a borders and ports protection unit composed 
of a sufficient number of officers, including officers of the United 
States and officers of the Americas partner country, as identified by 
the Commissioner, who will--
            (1) report to the local customs administrations and border 
        security agencies in that country;
            (2) be responsible for surge support and physical 
        protection of borders, ports, strategic depots, hubs, and key 
        commodities, such as basic foodstuffs, gasoline, diesel, and 
        other strategic goods, in that country;
            (3) under the authority of officials in that country, carry 
        out non-investigative customs functions, such as--
                    (A) ensuring the effective continuity of port 
                operations;
                    (B) facilitating legitimate trade and commerce; and
                    (C) detecting and interdicting customs violations, 
                such as illicit smuggling of contraband;
            (4) when cross-border violations of law are identified, 
        notify and coordinate directly with customs and other law 
        enforcement and security agencies in that country that are 
        responsible for conducting investigations of illicit cross-
        border smuggling offenses;
            (5) refer cross-border violations of law to the 
        Transnational Criminal Investigative Units of Homeland Security 
        Investigations; and
            (6) carry out any other duties identified by the 
        Commissioner.
    (d) Transnational Criminal Investigative Units.--The Secretary of 
Homeland Security, acting through the Executive Associate Director of 
Homeland Security Investigations, may establish Transnational Criminal 
Investigative Units within an Americas partner country upon receiving 
express consent from the government of that Americas partner country.
    (e) Training and Equipment.--To the extent authorized under 
existing provisions of law, the Commissioner may provide to an Americas 
partner country selected under subsection (b) training, oversight, 
equipment, and remuneration from U.S. Customs and Border Protection for 
the purposes specified in subsection (c) to provide lethal and non-
lethal assistance, such as training and equipment, including personal 
protective equipment, armored vehicles, and weapons, to entities that 
are--
            (1) identified by the local customs offices in that 
        country;
            (2) coordinated and deconflicted through the law 
        enforcement working group of the United States Embassy in that 
        country; and
            (3) approved by the Commissioner.
    (f) Management.--
            (1) In general.--Under the Program, the Commissioner, in 
        coordination with the Secretary of State and the Secretary of 
        Homeland Security, shall--
                    (A) deploy officers of U.S. Customs and Border 
                Protection to each Americas partner country selected 
                under subsection (b), who shall--
                            (i) report to the chief of mission;
                            (ii) monitor the activities, on behalf of 
                        the Department of Homeland Security, of the 
                        borders and ports protection unit of that 
                        country;
                            (iii) coordinate activities with--
                                    (I) the law enforcement working 
                                group of the United States Embassy in 
                                that country;
                                    (II) the attache of Homeland 
                                Security Investigations covering that 
                                country; and
                                    (III) the Transnational Criminal 
                                Investigative Unit for that country;
                            (iv) coordinate and deconflict all training 
                        and equipment requests with the law enforcement 
                        working group of the United States Embassy in 
                        that country and the attache of Homeland 
                        Security Investigations covering that country; 
                        and
                            (v) ensure that all cross-border violations 
                        of law are referred for investigation to the 
                        Transnational Criminal Investigative Unit for 
                        that country; and
                    (B) hire a defense contractor that has completed 
                all registrations and clearances required by the United 
                States Government to deploy a team of armed experts to 
                assist in the recruitment, vetting, and training of 
                agents of the borders and ports protection unit of that 
                country.
            (2) Hiring of agents.--When possible, the Secretary shall 
        hire agents for the borders and ports protection unit of an 
        Americas partner country selected under subsection (b) from 
        among agents of the security services of that country.
    (g) Security Issues.--The Secretary of State shall enhance the 
security of borders and ports protection units established under this 
section by following the model of the Special Program for Embassy 
Augmentation Response (SPEAR) used by the Diplomatic Security Service 
to protect embassies of the United States and other facilities in high-
threat environments.
    (h) Remuneration.--Under the Program, the Secretary of State, 
working through the contractor hired pursuant to subsection (f)(1)(B), 
shall provide appropriate remuneration for agents of borders and ports 
protection units, including--
            (1) wages based on appropriate pay scales of the United 
        Nations; and
            (2) a life insurance policy.
    (i) Designation of Units in Non-Americas Partner Countries.--
            (1) In general.--Notwithstanding any other provision of 
        law, except as provided in paragraph (2), the President may 
        designate a borders and ports protection unit under the Program 
        in a country that is not an Americas partner country selected 
        under subsection (b) if the President--
                    (A) determines that it is in the national security 
                interest of the United States to do so; and
                    (B) receives the express consent of the government 
                of that country.
            (2) Exception.--The President may not designate a borders 
        and ports protection unit under the Program in a country that 
        is a member of the Bolivarian Alliance for the Peoples of Our 
        America.
    (j) Report.--Not later than 90 days after the date of the enactment 
of this Act, and annually thereafter, the Secretary of State shall 
submit to the Committee on Finance and the Committee on Homeland 
Security and Governmental Affairs of the Senate and the Committee on 
Ways and Means of the House of Representatives a report on the Program.
    (k) Commissioner Defined.--In this section, the term 
``Commissioner'' means the Commissioner of U.S. Customs and Border 
Protection.

SEC. 244. ESTABLISHMENT OF MUTUAL RECOGNITION AGREEMENTS AND TRADE 
              TRANSPARENCY UNITS.

    (a) In General.--If not already in place with respect to an 
Americas partner country, not later than one year after entering into a 
partnership agreement pursuant to section 201 with that country, the 
Commissioner shall establish a mutual recognition agreement and a trade 
transparency unit with the customs administration of that country as 
part of the ongoing Customs and Trade Partnership Against Terrorism 
program of U.S. Customs and Border Protection.
    (b) Process.--Immediately upon the date of the enactment of this 
Act, the Commissioner shall begin an expedited process of establishing 
mutual recognition agreements and trade transparency units between the 
United States and customs offices of Americas partner countries.
    (c) Interoperability of Agreements.--The Commissioner, in 
consultation with the Secretary of Commerce, shall ensure that data 
sharing conducted under a mutual recognition agreement established 
under this section is interoperable with the e-governance system 
established under title I.
    (d) Harmonization of Data Collected Under Agreements.--In 
coordination with the Americas Partnership Business Advisory Board 
established under section 202, trade and customs bodies shall harmonize 
collected data under mutual recognition agreements entered into under 
this section, including data related to the following:
            (1) Weight.
            (2) Quantity.
            (3) Value.
            (4) Elements necessary for imports and exports.
            (5) Common identifiers matching imports and exports.
    (e) Definitions.--In this section:
            (1) Commissioner.--The term ``Commissioner'' means the 
        Commissioner of U.S. Customs and Border Protection.
            (2) Mutual recognition agreement.--The term ``mutual 
        recognition agreement'' means a document of arrangement between 
        U.S. Customs and Border Protection and a customs administration 
        of a foreign country that provides the platform for the 
        exchange of membership information and recognizes the 
        compatibility of the respective supply chain security programs 
        of that country and the United States.

        CHAPTER 5--MEDICAL EQUIPMENT AND SUPPLIES GRANT PROGRAM

SEC. 245. MEDICAL EQUIPMENT AND SUPPLIES GRANT PROGRAM.

    (a) In General.--The Secretary of Commerce shall establish a 
program under which the Secretary shall award grants to manufacturers 
of medical equipment, medical devices, and medical supplies that are 
either headquartered in the United States or in an Americas partner 
country, or that are determined by the Secretary to have a significant 
presence in an Americas partner country, to assist the continued 
expansion of, and promote job growth within, this key economic sector 
for the Hemisphere.
    (b) Use of Grant Amounts.--A medical equipment, medical device, or 
medical supply manufacturer in receipt of a grant awarded under this 
section shall use the amounts of that grant for new facilities or 
equipment, to retool old equipment, or to create or expand operations 
for medical equipment, medical device, or medical supply production in 
the United States or in an Americas partner country.
    (c) Administration.--In carrying out this section, the Secretary--
            (1) shall permit advances of grant amounts to 
        manufacturers--
                    (A) prior to making qualifying expenditures; or
                    (B) as qualifying expenditures are made; and
            (2) shall require a manufacturer to comply with safety, 
        labor, health, and environmental standards specified by the 
        Secretary, in consultation with the Secretary of Labor, the 
        Secretary of Health and Human Services, the Administrator of 
        the Environmental Protection Agency, and the Director of the 
        National Institute of Standards and Technology; and
            (3) may scale the amount of a grant depending on 
        incremental employment achieved by the manufacturer.
    (d) Definition of Medical Equipment, Medical Devices, and Medical 
Supplies.--In this section, the terms ``medical equipment, medical 
devices, and medical supplies'' means--
            (1) for goods manufactured in Americas partner countries, 
        goods within one of the following statistical reporting numbers 
        utilized in the Harmonized Tariff Schedule of the United 
        States:
                    (A) 9018.90.8000, classified as ``other instruments 
                and appliances used in medical, surgical, dental, or 
                veterinary sciences'';
                    (B) 9018.39.0040, classified as ``bougies, drains, 
                and sondes, and parts and accessories'';
                    (C) 9018.19.9560, classified as ``parts and 
                accessories for electro-diagnostic apparatus, for use 
                in medical, surgical, dental or veterinary science'';
                    (D) 9018.90.6000, classified as ``electro-surgical 
                instruments and appliances and parts and accessories'';
                    (E) 9018.90.7580, classified as ``electro-medical 
                instruments and appliances and parts and accessories'';
                    (F) 9021.39.0000, classified as ``other artificial 
                parts of the body and parts and accessories'';
                    (G) 9018.39.0050, classified as ``cannulae and the 
                like and parts and accessories)''; or
                    (H) any other statistical reporting number 
                contained within the Harmonized Tariff Schedule (19 
                U.S.C. 1202) that refers to a type of medical 
                equipment, medical device, or medical supply that is 
                produced within an Americas partner country and helps 
                secure America's medical supply chain, as determined by 
                the Secretary; and
            (2) for goods manufactured in the United States, goods 
        within each of the ``Schedule B'' export classifications codes 
        maintained by the United States Census Bureau that are the 
        equivalent of the products described in paragraph (1), as 
        determined by the Secretary.
    (e) Authorization of Appropriations.--There is authorized to be 
appropriated to the Secretary of Commerce $105,000,000 for each of the 
fiscal years 2025 through 2029 to carry out the program under this 
section. Amounts authorized to be appropriated under this subsection 
are authorized to be obligated and expended in both the United States 
and in Americas partner countries.

                         Subtitle C--Investment

SEC. 251. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) Americas partner countries need significant investment 
        in infrastructure and trade ecosystems to compete in the 21st 
        century;
            (2) slave-based subsidized trade in the People's Republic 
        of China takes advantage of such need, abusing the principles 
        of free trade to advance the national security interests of the 
        People's Republic of China and predate upon other countries;
            (3) environmental degradation by the People's Republic of 
        China, especially through dirty, coal-produced electricity, 
        gives products manufactured in the People's Republic of China 
        an unfair advantage over products manufactured in countries 
        with internationally accepted environmental standards;
            (4) theft of intellectual property rights, World Trade 
        Organization violations, and other abuses by the People's 
        Republic of China make competition with the Government of the 
        People's Republic of China and state-owned entities unbalanced;
            (5) a trade-based response to the trade behavior of the 
        People's Republic of China, which uses corruption and perverse 
        incentives, must include investment incentives, retaliatory 
        tariffs, fixing the de minimis trade loophole found in section 
        321 of the Tariff Act of 1930 (19 U.S.C. 1321), which is 
        effectively a free trade agreement with the Chinese Communist 
        Party, and other offsets to catalyze movement of supply chains 
        and productivity back to the Western Hemisphere; and
            (6) promoting development and challenging the People's 
        Republic of China will require flexibility, responsiveness, 
        creativity, and risk-taking, which are the ethos of the 
        investment corporation.

SEC. 252. BUILD AMERICAS UNIT.

    Title I of the BUILD Act of 2018 (22 U.S.C. 9611 et seq.) is 
amended by adding at the end the following new section:

``SEC. 1416. BUILD AMERICAS UNIT.

    ``(a) Establishment.--There is established in the Corporation a 
BUILD Americas Unit (in this division referred to as the `Unit').
    ``(b) Purpose.--The purposes of the Unit are as follows:
            ``(1) To advance the interests of the United States 
        Government.
            ``(2) To near-shore industries from the People's Republic 
        of China.
            ``(3) To support the development of large scale 
        infrastructure ecosystems for the purposes of rapid 
        industrialization of the Western Hemisphere.
            ``(4) To support the relocation of strategic supply chains 
        (as that term is defined in section 254 of the Americas Act).
    ``(c) Countries of Operation.--The Unit shall operate in all 
Americas partner countries (as that term is defined in section 2 of the 
Americas Act), without regard to the income limitations described in 
section 1412(c)(2).
    ``(d) Funding.--Such sums as may be necessary to carry out this 
section shall be made available from the Re-shoring and Near-shoring 
Account established under section 301 and the amounts authorized under 
section 212(a)(2) of the Americas Act.
    ``(e) Deputy Chief Executive Officer.--
            ``(1) Appointment.--There shall be in the Unit, a Deputy 
        Chief Executive Officer for the Americas (in this section 
        referred to as the `Deputy Chief') , who shall be appointed by 
        the President, by and with the advice and consent of the 
        Senate, and who shall report to the Deputy Under Secretary of 
        Commerce for the Americas Partnership.
            ``(2) Compensation.--The Deputy Chief shall be compensated 
        at a rate equivalent to level I of the Executive Schedule under 
        section 5312 of title 5, United States Code.
    ``(f) Personnel Management Authority.--
            ``(1) Staffing.--
                    ``(A) In general.--Without regard to any provision 
                of title 5, United States Code, governing the 
                appointment of employees in the civil service, the 
                Deputy Chief may appoint--
                            ``(i) such individuals as necessary to 
                        provide not fewer than 2 staff members from the 
                        Unit to each Americas partner country;
                            ``(ii) such individuals as necessary to 
                        serve as program managers under this section; 
                        and
                            ``(iii) such other individuals as may be 
                        necessary to enable the Unit to perform its 
                        duties.
                    ``(B) Program manager qualifications.--Individuals 
                appointed as program managers under subparagraph 
                (A)(ii) shall have--
                            ``(i) demonstrated experience and expertise 
                        in securities in the private sector;
                            ``(ii) an appropriate securities license, 
                        as determined by the Deputy Chief; and
                            ``(iii) held the position of investment 
                        banker as commonly understood for hiring at 
                        private entities.
            ``(2) Compensation.--Notwithstanding any provision of title 
        5, United States Code, governing the rates of pay or 
        classification of employees in the executive branch, the Deputy 
        Chief may prescribe the rates of basic pay for program managers 
        appointed under paragraph (1)(A)(ii) at a rate not in excess of 
        a rate equal to 150 percent of the maximum rate of basic pay 
        authorized for positions at level I of the Executive Schedule 
        under section 5312 of title 5, United States Code.
            ``(3) Evaluations of program managers.--
                    ``(A) In general.--The Deputy Administrator for 
                Programs shall establish criteria to evaluate the 
                effectiveness of program managers, which shall include 
                measuring the economic success of portfolio instruments 
                approved by program managers.
                    ``(B) Dismissal.--Upon the determination that a 
                program manager fails to meet the criteria described in 
                subparagraph (A), the Deputy Administrator for Programs 
                may recommend the dismissal of such program manager, 
                who may be dismissed at the discretion of the Chief 
                Administrator.
            ``(4) Limitation on term of appointment.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B), the service of a program manager 
                appointed under paragraph (1)(A)(ii) may not exceed 5 
                years.
                    ``(B) Extension.--The Deputy Chief may, in the case 
                of a particular program manager appointed under 
                paragraph (1)(A)(ii), extend the period to which 
                service is limited under subparagraph (A) by up to 2 
                years if the Deputy Chief determines that such action 
                is necessary to promote the efficiency of the Unit, as 
                applicable.
    ``(g) Authorities Relating to Provision of Support.--
            ``(1) In general.--The authorities in this subsection shall 
        only be exercised to--
                    ``(A) carry out of the policy of the United States 
                in section 251 of the Americas Act and the purposes of 
                the Unit in subsection (b);
                    ``(B) mitigate risks to United States taxpayers by 
                sharing risks with the private sector and qualifying 
                sovereign entities through co-financing and structuring 
                of tools; and
                    ``(C) ensure that support provided under this 
                section is additional to private sector resources by 
                mobilizing private capital that would otherwise not be 
                deployed without such support.
            ``(2) Considerations.--In exercising the authorities in 
        this subsection, the Unit--
                    ``(A) shall consider--
                            ``(i) whether an activity will maximize the 
                        profits of the entity receiving support under 
                        this subsection;
                            ``(ii) the potential return on investment 
                        of an activity;
                            ``(iii) the sustainability of the economic 
                        model of the entity receiving support under 
                        this subsection;
                            ``(iv) any secondary economic impact of the 
                        activity and whether such impact will spur 
                        additional clusters of investment;
                            ``(v) whether taxation can be used to 
                        generate revenue for public entities receiving 
                        support under this subsection; and
                            ``(vi) the feasibility of economic success 
                        for the entity receiving support under this 
                        subsection; and
                    ``(B) may not consider external factors that will 
                not impact the economic success of an activity.
            ``(3) Grants.--
                    ``(A) In general.--The Unit may award grants to 
                United States businesses and entities and governments 
                in Americas partner countries under such terms and 
                conditions as the Unit shall prescribe to carry out the 
                purposes of the Americas Act.
                    ``(B) Application requirement.--A grant under this 
                paragraph may be made only to a United States business, 
                a for profit or not-for profit entity registered in an 
                Americas partner country, or a government of such a 
                country (including a local government) that submits to 
                the Unit an application at such time, in such manner, 
                and containing or accompanied by such information as 
                the Unit may reasonably require.
                    ``(C) Priority.--In approving applications under 
                this paragraph, the Unit shall give priority to 
                applications that demonstrate the development of a 
                private sector activity that will advance the economic 
                objectives of the Unit described in subsection (b).
                    ``(D) Approval limits.--Under this paragraph--
                            ``(i) program managers may approve grants 
                        of not more than $4,999,999;
                            ``(ii) the Deputy Chief may approve grants 
                        of not less than $5,000,000 and not more than 
                        $49,999,999; and
                            ``(iii) the Deputy Assistant Secretary for 
                        the Americas Partnership may approve grants of 
                        not less than $50,000,000.
                    ``(E) Reporting.--
                            ``(i) In general.--The Unit shall--
                                    ``(I) use the e-governance 
                                framework established under title I for 
                                management of and reporting on grants; 
                                and
                                    ``(II) protect all restricted 
                                personal information (as that term is 
                                defined in section 119 of title 18, 
                                United States Code) collected under 
                                clause (ii).
                            ``(ii) Collection of information.--The 
                        Corporation shall carry out clause (i) by 
                        collecting information with respect to each 
                        such grant, including--
                                    ``(I) the beneficiary of the grant;
                                    ``(II) the amount;
                                    ``(III) the location of activities 
                                funded by the grant;
                                    ``(IV) a description of the 
                                activities funded by the grant;
                                    ``(V) a justification for approving 
                                the grant;
                                    ``(VI) the amount of funds provided 
                                for an activity by the beneficiary of 
                                the grant;
                                    ``(VII) a description of any other 
                                financial support from the Unit;
                                    ``(VIII) a description of how 
                                awarding the grant is anticipated to 
                                combat the influence of the People's 
                                Republic of China in the Western 
                                Hemisphere; and
                                    ``(IX) a description of how the 
                                grant overlaps with any other financial 
                                support provided by persons other than 
                                the Unit.
            ``(4) Loans and guaranties.--
                    ``(A) In general.--The Unit may make loans or 
                guaranties in accordance with the guidelines in 
                subparagraph (B) and upon such other terms and 
                conditions as the Deputy Assistant Secretary for the 
                Americas Partnership may determine.
                    ``(B) Guidelines for the issuance of loans.--
                            ``(i) Approval limits.--Under this 
                        paragraph--
                                    ``(I) program managers may approve 
                                loans and guaranties of not more than 
                                $4,999,999;
                                    ``(II) the Deputy Chief may approve 
                                loans and guaranties of not less than 
                                $5,000,000 and not more than 
                                $49,999,999; and
                                    ``(III) the Deputy Assistant 
                                Secretary for the Americas Partnership 
                                may approve loans and guaranties of not 
                                less than $50,000,000.
                            ``(ii) Loan availability.--
                                    ``(I) In general.--Any loan made or 
                                guaranteed under this paragraph may be 
                                issued to--
                                            ``(aa) a United States 
                                        business;
                                            ``(bb) a for-profit entity 
                                        in an Americas partner country; 
                                        or
                                            ``(cc) a government of an 
                                        Americas partner country 
                                        (including a local government).
                                    ``(II) Exception.--Notwithstanding 
                                subclause (I), a loan may be made or 
                                guaranteed by the Unit to a country 
                                that is not an Americas partner country 
                                if the purpose of the loan is to 
                                support near-shoring of strategic 
                                supply chains under section 254 of the 
                                Americas Act.
                                    ``(III) Lines of credit.--The Unit 
                                may provide a line of credit of not 
                                more than $50,000,000 to a United 
                                States business that meets such 
                                requirements as the Deputy Assistant 
                                Secretary for the Americas Partnership 
                                may determine.
                            ``(iii) Interest rates.--
                                    ``(I) In general.--A loan made or 
                                guaranteed under this paragraph may 
                                bear an interest rate lower than the 
                                rate for an equivalent loan available 
                                in the local market.
                                    ``(II) Variable interest rates.--
                                For each loan made or guaranteed under 
                                this paragraph, the Secretary of the 
                                Treasury shall make available to the 
                                Unit, at a variable interest rate that 
                                is not less than zero percent, funds 
                                from the amounts authorized under 
                                section 212(a)(2) of the Americas Act.
                                    ``(III) Deposits to treasury.--For 
                                each direct loan made by the Unit to a 
                                covered entity, the Unit shall remit--
                                            ``(aa) any repayment on the 
                                        principal amount, including the 
                                        final repayment and liquidation 
                                        of the loan, and any amount of 
                                        interest required by the 
                                        Secretary of the Treasury in 
                                        accordance with subclause (II) 
                                        to the Secretary of the 
                                        Treasury, who shall use such 
                                        amounts to replenish the 
                                        amounts authorized under 
                                        section 212(a)(2) of the 
                                        Americas Act; and
                                            ``(bb) any profit made from 
                                        interest above the amount 
                                        required by rate of interest 
                                        established by the Secretary of 
                                        the Treasury under subclause 
                                        (II) to the Secretary of the 
                                        Treasury, who shall deposit 
                                        such amounts into the Re-
                                        shoring and Near-shoring 
                                        Account established under 
                                        section 301 of the Americas 
                                        Act.
                            ``(iv) Denomination.--Loans and guaranties 
                        made under this paragraph may be denominated 
                        and repayable in United States dollars or 
                        foreign currencies. Foreign currency 
                        denominated loans and guaranties should only be 
                        provided if the Deputy Assistant Secretary for 
                        the Americas Partnership determines there is a 
                        substantive policy rationale for such loans and 
                        guaranties.
                            ``(v) Guaranties by treasury.--
                                    ``(I) In general.--For any loan 
                                under this paragraph, the Unit shall 
                                hold in an escrow account funds in an 
                                amount that is equal to 5 percent of 
                                the principal amount of the loan for 
                                the life of the loan or until the loan 
                                has been repaid.
                                    ``(II) Source of funds.--The funds 
                                described in subclause (I) shall be 
                                taken from the Re-shoring and Near-
                                shoring Account established under 
                                section 301 of the Americas Act.
                            ``(vi) Applicability of federal credit 
                        reform act of 1990.--Loans and guaranties 
                        issued under paragraph (1) shall be subject to 
                        the requirements of the Federal Credit Reform 
                        Act of 1990 (2 U.S.C. 661 et seq.).
            ``(5) Equity investments.--
                    ``(A) Sense of congress.--It is the sense of 
                Congress that--
                            ``(i) equity is essential, particularly 
                        with respect to transformational technology in 
                        the energy and technology sectors; and
                            ``(ii) firms engaged in complex, advanced 
                        manufacturing production require greater 
                        capital and more time than nonproduction firms.
                    ``(B) In general.--The Unit may, as an investor, 
                support projects with funds or use other mechanisms for 
                the purpose of purchasing, and may make and fund 
                commitments to purchase, invest in, make pledges in 
                respect of, or otherwise acquire, equity or quasi-
                equity securities or shares or financial interests of 
                any entity, including as a limited partner or other 
                investor in investment funds, upon such terms and 
                conditions as the Unit may determine.
                    ``(C) Funding.--
                            ``(i) In general.--For the purpose of 
                        investments under subparagraph (B), the Unit 
                        shall use the amounts authorized under section 
                        212(a)(2) of the Americas Act.
                            ``(ii) Escrow.--For any investment under 
                        this paragraph, the Unit shall hold in an 
                        escrow account funds, which shall be taken from 
                        the Re-shoring and Near-shoring Account 
                        established under section 301 of the Americas 
                        Act, in an amount that is equal to 5 percent of 
                        the amount of funds invested.
                            ``(iii) Liquidation.--Upon liquidation of 
                        any investment, the unit shall remit--
                                    ``(I) the principal amount and any 
                                amount of interest required by the 
                                Secretary for the use of such principal 
                                amount of such investment to the 
                                Secretary of the Treasury who shall use 
                                such amounts to replenish the amounts 
                                authorized under section 212(a)(2) of 
                                the Americas Act; and
                                    ``(II) any profit gained from and 
                                the amount held in escrow in accordance 
                                with clause (ii) for such investment to 
                                the Secretary of the Treasury who shall 
                                deposit such funds in the Re-Shoring 
                                and Near-Shoring Account established 
                                under section 301 of that Act.
                    ``(D) Limitations on equity investments.--
                            ``(i) Contributions by partners.--Any 
                        investment made by the Unit under this 
                        paragraph shall be accompanied by an investment 
                        of not less than 51 percent by the United 
                        States business or entity or government of an 
                        Americas partner country.
                            ``(ii) Per project limit.--The aggregate 
                        amount of equity investment by the Unit with 
                        respect to any project shall not exceed 49 
                        percent.
            ``(6) Joint investment partnerships.--
                    ``(A) In general.--The Unit may enter into joint 
                investment partnerships with international financial 
                institutions or other similar institutions, including 
                the World Bank and the Andean Development Corporation-
                Development Bank of Latin America.
                    ``(B) Limitation.--Notwithstanding subparagraph 
                (A), the Unit may not enter into any partnership with 
                any person, including any financial institution, 
                business, organization, or individual, that is 
                headquartered in, has a principal place of business in, 
                or is otherwise directly or indirectly owned or 
                controlled by of the government of the Russian 
                Federation, the People's Republic of China, or any 
                member country of the Bolivarian Alliance for the 
                Peoples of Our America (ALBA).
                    ``(C) International financial institutions 
                defined.--In this paragraph, the term `international 
                financial institutions' has the meaning given that term 
                in section 1701(c)(2) of the International Financial 
                Institutions Act (22 U.S.C. 262r(c)(2)).
            ``(7) Insurance and reinsurance.--
                    ``(A) In general.--In order to ensure the 
                protection of the investments of United States 
                businesses, in whole or in part, against any political 
                risks, such as currency inconvertibility and transfer 
                restrictions, expropriation, war, terrorism, civil 
                disturbance, breach of contract, and nonhonoring of 
                financial obligations, the Unit may issue to United 
                States businesses that invest in Americas partner 
                countries insurance or reinsurance--
                            ``(i) upon such terms and conditions as the 
                        Unit may determine; and
                            ``(ii) at 100 percent of the value of the 
                        insured investment.
                    ``(B) Escrow.--For any insurance or reinsurance 
                described in subparagraph (A), the Unit shall hold in 
                an escrow account at a commercial bank funds, which 
                shall be taken from the Re-shoring and Near-shoring 
                Account established under section 301 of the Americas 
                Act, in an amount that is equal to 5 percent of the 
                insurance amount.
                    ``(C) Rates.--Any insurance or reinsurance 
                described in subparagraph (A) may be issued at a lower 
                rate than the lowest available rate for equivalent 
                insurance or reinsurance in the local market.''.

SEC. 253. AMERICAS PARTNERSHIP ENTERPRISE FUND.

    (a) Designation.--The President, after consultation with the 
Speaker of the House of Representatives, the minority leader of the 
House of Representatives, the majority leader of the Senate, the 
minority leader of the Senate, the Secretary of State, the Secretary of 
Commerce, the Secretary of the Treasury, and the Administrator of the 
United States Agency for International Development, may designate a 
private, nonprofit organization registered in an Americas partner 
country that is established to carry out the purposes set forth in 
subsection (b) as the ``Americas Partnership Enterprise Fund'' 
(referred to in this section as the ``Fund'').
    (b) Purposes.--The purposes of the Fund are--
            (1) to support the development of ecosystems for critical 
        supply chains in the Americas partner countries;
            (2) to support the development of private sector responses 
        to migration;
            (3) to promote near-shoring strategic industry and supply 
        chains from the People's Republic of China; and
            (4) to support policies and practices conducive to private 
        sector development in Americas partner countries through loans, 
        grants, equity investments, feasibility studies, technical 
        assistance, training, insurance, guarantees, and other 
        measures.
    (c) Governance.--
            (1) Board of directors.--
                    (A) In general.--The Fund shall be governed by a 
                Board of Directors, consisting of 3, 4, or 5 
                individuals described in subparagraph (C).
                    (B) Appointments.--Not later than 90 days after the 
                date of the enactment of this Act, the President 
                shall--
                            (i) appoint the initial members of the 
                        Board of Directors, subject to the advice and 
                        consent of the Senate; and
                            (ii) submit the names of such appointees to 
                        the Chair and Ranking Member of the 
                        Subcommittee on International Trade, Customs, 
                        and Global Competitiveness of the Committee on 
                        Finance of the Senate.
                    (C) Qualifications.--Each member of the Board of 
                Directors--
                            (i) shall be a citizen of an Americas 
                        partner country;
                            (ii) may not be closely affiliated with any 
                        government, civil society organization, 
                        academic institution, think tank, or any other 
                        not-for-profit entity; and
                            (iii) shall have demonstrated experience 
                        and expertise in the areas of private sector 
                        development in which the Fund is to be 
                        involved.
                    (D) Term.--Each member of the Board of Directors 
                shall serve for a term of 5 years.
                    (E) Chairperson.--At its first meeting, the Board 
                of Directors shall elect a Chairperson, who may only 
                serve in such position for a single term.
                    (F) Meetings.--The Board of Directors shall meet 
                not less frequently than quarterly.
                    (G) Appointment of executive director.--The Board 
                of Directors shall unanimously appoint a qualified 
                individual to serve as Executive Director of the Fund. 
                The Executive Director shall be compensated at a rate 
                equivalent to level V of the Executive Schedule under 
                section 5316 of title 5, United States Code.
                    (H) Vacancies.--If a vacancy occurs before the 
                expiration of the term of a member of the Board of 
                Directors, the President shall appoint an individual 
                with the qualifications described in subparagraph (C) 
                to fill the remainder of such term, in the manner 
                described in subparagraph (B).
            (2) Staffing.--
                    (A) In general.--The Fund shall hire sufficient 
                host country nationals to staff the central office to 
                ensure that Fund resources are managed appropriately 
                and to carry out the day-to-day operations of the 
                central office, including--
                            (i) program managers, who--
                                    (I) shall head the core management 
                                unit;
                                    (II) may approve program 
                                expenditures of up to $150,000; and
                                    (III) shall be evaluated primarily 
                                on the success of their respective 
                                portfolios; and
                            (ii) additional support staff, provided 
                        that not more than 25 percent of the Fund's 
                        annual expenditures are used for staffing and 
                        administration.
                    (B) Ethics officer.--The Fund shall have an ethics 
                officer, who--
                            (i) shall be responsible for oversight of 
                        the host country nationals;
                            (ii) shall develop ethical standards for 
                        the management of the Fund;
                            (iii) shall facilitate the mainstreaming of 
                        ethics with respect to the staff of the Fund;
                            (iv) may evaluate individual activities, as 
                        needed; and
                            (v) should develop standard investment 
                        procedures that do not affect the flexibility 
                        and speed of the investment activities.
                    (C) Partners.--The Fund shall partner with local 
                entities, wholly-owned subsidiaries, and other 
                instruments, as appropriate, to carry out investment 
                activities in Americas partner countries, under the 
                supervision of the central office.
            (3) Limitation on compensation.--None of the amounts 
        managed by the Fund may be used to provide any benefit to any 
        member of the Board of Directors or to any officer or employee 
        of the Fund, other than a reasonable salary as compensation for 
        services rendered.
    (d) Eligible Programs and Projects.--
            (1) Defined term.--In this subsection, the term ``qualified 
        private sector entity'' means a business organization that is 
        duly registered in the United States or in an Americas partner 
        country.
            (2) In general.--The Fund may provide grants, loans, 
        technical assistance, goods, and services to qualified private 
        sector entities, in accordance with paragraphs (3) through (7), 
        for programs and projects that are consistent with the purposes 
        described in subsection (b).
            (3) Grants.--
                    (A) In general.--The Fund shall establish a process 
                for awarding grants to qualified private sector 
                entities to carry out activities that are consistent 
                with the purposes described in subsection (b).
                    (B) Selection of grantees.--Not later than 20 
                working days after receiving an application for a grant 
                under this paragraph, the Fund shall complete its 
                review and evaluation of the application, using 
                anticipated return on investment as the sole criterion 
                for determining whether a grant will be awarded to the 
                applicant.
            (4) Loans.--
                    (A) In general.--The Fund shall establish a process 
                for providing low-interest loans to qualified private 
                sector entities to carry out activities that are 
                consistent with the purposes described in subsection 
                (b). Loans authorized under this paragraph may be 
                offered in the form of equity if the Fund determines 
                that such form is appropriate.
                    (B) Selection of loan recipients.--Not later than 
                20 working days after receiving an application for a 
                loan under this paragraph, the Fund shall complete its 
                review and evaluation of the application, using 
                anticipated return on investment as the sole criterion 
                for determining whether a loan will be awarded to the 
                applicant.
                    (C) Partnerships with commercial banks.--The Fund 
                may enter into partnerships with commercial banks to 
                manage loan portfolios under this paragraph.
            (5) Technical assistance.--
                    (A) In general.--The Fund, with support from United 
                States entities, such as the United States Trade and 
                Development Agency and other agencies or offices based 
                in the United States, may hire or contract with 
                individuals and entities capable of providing technical 
                assistance in support of the purposes described in 
                subsection (b).
                    (B) Selection of technical assistance recipients.--
                Not later than 20 working days after receiving an 
                application for technical assistance under this 
                paragraph, the Fund shall complete its review and 
                evaluation of the application, using anticipated return 
                on investment as the sole criterion for determining 
                whether the requested technical assistance will be 
                awarded to the applicant.
                    (C) Eligible partner countries.--Notwithstanding 
                any other provision of law, the United States Trade and 
                Development Agency may work in any Americas partner 
                country regardless of income status designation.
                    (D) Authorization of appropriations.--There is 
                authorized to be appropriated to the United States 
                Trade and Development Agency $10,000,000, which shall 
                be expended on activities related to partnership 
                agreements entered into under section 201.
            (6) Goods and services.--
                    (A) In general.--The Fund may directly procure and 
                deploy goods and services to the extent required to 
                support the purposes described in subsection (b).
                    (B) Selection of goods and services recipients.--
                Not later than 20 working days after receiving an 
                application for goods or services under this paragraph, 
                the Fund shall complete its review and evaluation of 
                the application, using anticipated return on investment 
                as the sole criterion for determining whether the 
                requested goods or services will be provided to the 
                applicant.
            (7) Government support.--
                    (A) In general.--The Fund may provide cash and in-
                kind goods or services to foreign governmental entities 
                in order to advance the purposes described in 
                subsection (b).
                    (B) Selection of government recipients.--Not later 
                than 20 working days after receiving an application 
                from a foreign government for cash or in-kind goods or 
                services under this paragraph, the Fund shall complete 
                its review and evaluation of such application.
    (e) Funding.--
            (1) Authorization.--During the first fiscal year beginning 
        after the date of the enactment of this Act, the Fund shall 
        receive $1,000,000,000 from the Re-shoring and Near-shoring 
        Account established under section 301 for initial 
        capitalization. The Fund may be recapitalized in accordance 
        with paragraph (4).
            (2) Financial instruments.--In order to maximize the 
        resources available to carry out the activities authorized 
        under this Act, the Fund should establish financial instruments 
        that enable private businesses in Americas partner countries 
        with a commercial nexus in the United States to effectively 
        multiply the impact of United States grants awarded by the 
        Fund.
            (3) Distribution of return on investments.--
                    (A) In general.--The Fund may distribute financial 
                returns on Fund investments, include private venture 
                capital, equity, or loan repayments, at such times and 
                in such amounts as the Board of Directors may 
                determine, to the central account of the Fund.
                    (B) Sense of congress.--It is the sense of Congress 
                that the return on investment described in subparagraph 
                (A) should--
                            (i) recapitalize the central account of the 
                        Fund;
                            (ii) guarantee the sustainability of the 
                        Fund;
                            (iii) limit the need for additional 
                        appropriations to the Fund;
                            (iv) spur additional investment;
                            (v) promote small and medium-sized 
                        enterprises;
                            (vi) advance good governance and 
                        transparency; and
                            (vii) promote job creation.
            (4) Additional revenue.--After 80 percent of the initial 
        capital in the Fund has been expended pursuant to paragraph 
        (1), the Board of Directors may request additional capital for 
        the Fund by--
                    (A) submitting a request to the Re-shoring and 
                Near-shoring Account that identifies the additional 
                amount needed for the Fund; and
                    (B) submitting a report to Congress that details 
                the Fund's activities and justifies the need for the 
                additional capital.
            (5) Nonapplicability of other laws.--Notwithstanding any 
        other provision of law, amounts appropriated pursuant to this 
        subsection may be made available to the Fund and used for the 
        purposes set forth in this section.
    (f) Limitations on Assistance.--
            (1) Major expenditures.--The Fund may not provide any 
        grant, loan, technical assistance, or government support valued 
        in excess of $499,999 unless the Board of Directors approves 
        such action in advance.
            (2) Recordkeeping.--The Fund shall use the e-governance 
        platform to maintain a database containing relevant 
        information, as established by the Secretary of Commerce, 
        regarding activities of the Fund, which shall be accessible by 
        any member of the Board of Directors at any time.
            (3) Minor expenditures.--A member of the Board of Directors 
        may not approve, deny, or influence the approval or denial of 
        an expenditure by the Fund valued at less than $500,000 unless 
        the Board of Directors determines that the individual 
        authorized to approve or deny such expenditure, subject to the 
        thresholds under this section, has engaged in independently 
        verified malfeasance.
    (g) Annual Reports.--
            (1) In general.--The Fund shall submit an annual report to 
        the Board of Directors that--
                    (A) describes the status of the registration and 
                management of the Fund;
                    (B) identifies the activities undertaken by the 
                Fund, disaggregated by activity type, country, and 
                strategic sector; and
                    (C) details the successes and failures of such 
                activities.
            (2) Congress.--The Board of Directors shall annually 
        submit--
                    (A) to Congress a copy of each report received 
                pursuant to paragraph (1); and
                    (B) to the Committee on Finance of the Senate and 
                the Committee on Ways and Means of the House of 
                Representatives a chapter within the comprehensive 
                Department of Commerce report that identifies, for the 
                reporting period--
                            (i) the number of grants, loans, instances 
                        of technical assistance, goods and services, 
                        and other Government support provided by the 
                        Fund;
                            (ii) the repayment rates for the loans and 
                        other support referred to in clause (i);
                            (iii) a summary of activities conducted by 
                        the Fund;
                            (iv) the countries in which the Fund is 
                        conducting such activities;
                            (v) success stories involving entities 
                        receiving assistance from the Fund;
                            (vi) lessons learned from the activities 
                        conducted by the Fund; and
                            (vii) any other information contained in 
                        other reports required under this Act that 
                        relates to the Fund.
    (h) Audits.--
            (1) In general.--Not less frequently than annually, the 
        activities of the Fund shall be subject to an audit by an 
        independent private entity selected by the Board of Directors.
            (2) Report.--
                    (A) Findings.--Each independent private entity 
                referred to in paragraph (1) shall submit a report to 
                the Board of Directors that contains the findings of 
                the audit conducted pursuant to such paragraph.
                    (B) Public accessibility.--The Board of Directors 
                shall post the report received pursuant to subparagraph 
                (A) on the Fund's publicly accessible website.
    (i) Duration.--The Fund shall remain operational indefinitely. 
Venture capital profits, equity, and loan interest shall be returned to 
the central account of the Fund, with the goal that the Fund become 
self-sufficient.
    (j) Nonapplicability of Other Laws.--Notwithstanding any other 
provision of law, executive branch agencies may conduct programs and 
activities and provide services in support of the activities of the 
Fund.

SEC. 254. NEAR-SHORING OF STRATEGIC SUPPLY CHAINS.

    (a) Statement of Policy.--It is the policy of the United States--
            (1) to advance United States national security goals and 
        hemispheric foreign policy and development goals by assisting 
        countries in the Western Hemisphere to establish the ecosystems 
        necessary to host strategic industries in order to reduce 
        vulnerabilities of the United States, in particular with 
        respect to supply chains based, as of the date of the enactment 
        of this Act, in the People's Republic of China; and
            (2) to reduce the influence of the People's Republic of 
        China in the Western Hemisphere.
    (b) Identification of Strategic Supply Chains, Products, and 
Entities.--
            (1) Report required.--Not later than 90 days after the date 
        of the enactment of this Act, and annually thereafter, the 
        Secretary of State, through the Deputy Assistant Secretary of 
        State for the Americas Partnership established under section 
        203(c)(1), and in coordination with the United States Trade 
        Representative, the Secretary of Commerce, and other 
        appropriate officials, shall submit to Congress a report 
        identifying--
                    (A) supply chains identified under Executive Order 
                14017 (86 Fed. Reg. 11849; relating to America's supply 
                chains), as amended on or after the date of the 
                enactment of this Act, located in the Western 
                Hemisphere (in this section referred to as ``strategic 
                supply chains'');
                    (B) products produced by such supply chains; and
                    (C) entities that are part of such supply chains.
            (2) Opportunities for near-shoring.--
                    (A) In general.--The report required by paragraph 
                (1) shall list opportunities for near-shoring of 
                products within strategic supply chains and support for 
                such near-shoring identified under subsection (c).
                    (B) Consultations.--In identifying opportunities 
                for near-shoring under subparagraph (A), the 
                Secretary--
                            (i) shall consult with United States 
                        industry to obtain feasibility studies, 
                        viability plans, and letters of commitment 
                        relating to such opportunities; and
                            (ii) may issue requests for information 
                        relating to such opportunities to determine the 
                        needs of industry with respect to near-shoring 
                        strategic supply chains.
            (3) Work plan.--The report required by paragraph (1) shall 
        include a work plan setting forth a prioritization for the 
        near-shoring of products within strategic supply chains, 
        including the tools to be used and the authorities to be 
        exercised in the implementation of such near-shoring as part of 
        a special economic initiative under subsection (d).
    (c) Identification and Support for Near-Shoring of Products in 
Strategic Supply Chains.--
            (1) In general.--The Secretary of Commerce, in consultation 
        with the Secretary of State and the heads of other relevant 
        Federal agencies--
                    (A) shall, in partnership with industry and 
                stakeholders, identify opportunities that would be 
                appropriate for near-shoring; and
                    (B) may provide funding to support such 
                opportunities as provided in this title.
            (2) Preferences.--In selecting among opportunities for 
        near-shoring that will receive funding under paragraph (1), the 
        Secretary of Commerce, in consultation with the Secretary of 
        State and the heads of other relevant Federal agencies, shall 
        give preference to opportunities for the near-shoring of 
        products that--
                    (A) have the support of the government of the 
                country in which the production of the product will 
                take place; and
                    (B) can attract private investment.
            (3) Production in non-americas partner countries.--The 
        Secretary of Commerce may provide funding under this subsection 
        to near-shore the production of a product identified under 
        subsection (b)(1)(B) to a country that is not an Americas 
        partner country if the Secretary determines and certifies to 
        Congress that there are no opportunities appropriate for re-
        shoring or near-shoring to Americas partner countries.
    (d) Special Economic Initiative.--
            (1) In general.--The President shall establish a special 
        economic initiative for strategic supply chains, to be 
        administered by the Department of Commerce, under which the 
        tools described in the provisions of and amendments made by 
        this subtitle and subtitle D are made available to Americas 
        partner countries and such other countries as the President 
        considers appropriate.
            (2) Notification to congress; plan.--Not less than 15 days 
        before exercising the authority provided by paragraph (1) to 
        establish a special economic initiative with respect to a 
        country, the President shall--
                    (A) notify Congress of the intention of the 
                President to exercise that authority; and
                    (B) submit to Congress a plan for the initiative, 
                which shall include a description of--
                            (i) the sector involved;
                            (ii) the projects involved;
                            (iii) an analysis, including environmental 
                        analysis, available with respect to the 
                        initiative;
                            (iv) the agreement with the government of 
                        the country with respect to the initiative; and
                            (v) the cost of the initiative.
            (3) Authority to enter into agreements.--The President may 
        enter into agreements using authorities of Federal agencies, 
        including the Department of State, the United States Agency for 
        International Development, the Department of Commerce, the 
        Department of Defense, the Department of Energy, the Department 
        of Agriculture, the Department of Health and Human Services, or 
        any other authorities the President considers appropriate, to 
        advance a special economic initiative under paragraph (1).
            (4) Waiver of competition requirements.--
                    (A) In general.--The President may waive the 
                requirements of title 41, United States Code, relating 
                to competition in the awarding of Government contracts 
                in the case of a contract related to the near-shoring 
                of strategic supply chains through a special economic 
                initiative under paragraph (1) if the ethics officer of 
                the agency seeking to enter into the contract evaluates 
                the contract and the certifies that there are no 
                conflicts of interest.
                    (B) Timing of evaluation.--An ethics officer shall 
                have not less than 20 business days to conduct an 
                evaluation described in subparagraph (A).
            (5) Additional support for near-shoring under special 
        economic initiative.--
                    (A) In general.--The Secretary of Commerce, in 
                coordination with the Secretary of State and the heads 
                of other agencies that operate under the foreign policy 
                guidance of the Secretary of State, shall, as 
                appropriate, prioritize and expedite the efforts of the 
                Department of Commerce, the Department of State, the 
                Department of the Treasury, and such other agencies in 
                supporting the efforts of the United States Government 
                to incentivize near-shoring through financial and 
                nonfinancial methods, including methods described in 
                this subsection, and Americas partner countries to 
                support near-shoring and increase investment in 
                entities identified under subsection (b)(1)(C) by--
                            (i) providing diplomatic, political, and 
                        economic support to such entities in Americas 
                        partner countries or other countries in the 
                        Western Hemisphere identified by the Secretary 
                        of Commerce as necessary;
                            (ii) facilitating negotiations concerning 
                        cross-border infrastructure, such as electric 
                        grids, ports, trains, or other infrastructure 
                        that crosses borders;
                            (iii) providing technical and grant 
                        assistance to enhance the regulatory and labor 
                        environments of Americas partner countries and 
                        other such other countries to facilitate United 
                        States business investments; and
                            (iv) facilitating both early-stage project 
                        support and late-stage project support to such 
                        entities with respect to near-shoring.
                    (B) Export protection.--
                            (i) In general.--An entity identified under 
                        subparagraph (C) of subsection (b)(1) that 
                        receives assistance with re-shoring or near-
                        shoring production of a product identified 
                        under subparagraph (B) of that subsection is 
                        eligible to receive export protection as 
                        described in clause (iii).
                            (ii) Report to department of commerce.--If 
                        the application of an entity submitted under 
                        clause (i) is approved, the entity shall submit 
                        to the Secretary of Commerce a report 
                        specifying the average production level of the 
                        product described in that clause in the United 
                        States for the 3 calendar years preceding 
                        submission of the report.
                            (iii) Amount of exports provided export 
                        protection.--If the quantity of production in 
                        the United States of a product described in 
                        clause (i) exceeds the level specified under 
                        clause (ii), the quantity in excess of that 
                        level may be exported without being subject to 
                        export controls or any other restrictions on 
                        exportation (subject to such exceptions as the 
                        President may declare are in the national 
                        security interests of the United States).
                    (C) Definitions.--In this paragraph:
                            (i) Early-stage project support.--The term 
                        ``early-stage project support'' includes the 
                        following:
                                    (I) Feasibility studies.
                                    (II) Long-term strategic supply 
                                chain planning.
                                    (III) Resource evaluations.
                                    (IV) Project appraisal and costing.
                                    (V) Pilot projects.
                                    (VI) Commercial support, such as 
                                trade missions, reverse trade missions, 
                                technical workshops, international 
                                buyer programs, and international 
                                partner searchers to link suppliers to 
                                projects.
                                    (VII) Technical assistance and 
                                other guidance to improve the local 
                                regulatory environment and market 
                                frameworks to encourage transparent 
                                competition.
                            (ii) Late-stage project support.--The term 
                        ``late-stage project support'' includes support 
                        of the type provided by the BUILD Americas 
                        Unit.
            (6) Source of funds.--Funding for a special economic 
        initiative under paragraph (1) shall be taken from the Re-
        shoring and Near-shoring Account established under section 301.
    (e) Regulatory Alignment.--
            (1) In general.--The Secretary of Commerce, in coordination 
        with the Americas Partnership business advisory board 
        established by the Americas Partnership Secretariat under 
        section 202, and with support from appropriate officials of the 
        United States Government, such as the Assistant United States 
        Trade Representative for the Americas Partnership established 
        under section 203(b) and the official of the Trade and 
        Development Agency with lead responsibility for the 
        implementation of this title, shall begin a process of 
        regulatory alignment with respect to supply chains and products 
        identified under subsection (b)(1) with--
                    (A) Americas partner countries; and
                    (B) any other country that benefits from the near-
                shoring of the production of a product identified under 
                subsection (b)(1)(B) to the country.
            (2) Prioritization of pharmaceuticals.--In carrying out the 
        process described in paragraph (1), the Secretary shall begin 
        with regulatory alignment with respect to pharmaceuticals.
            (3) Reports required.--The Secretary shall submit to 
        Congress and make available to the public reports on the 
        success of efforts under paragraph (1) on a continuous basis.
    (f) United States International Development Finance Corporation.--
            (1) In general.--For purposes of supporting near-shoring of 
        strategic supply chains to Americas partner countries and such 
        other countries as the President considers appropriate, the 
        United States International Development Finance Corporation (in 
        this subsection referred to as the ``Corporation'') may provide 
        support under title II of the Better Utilization of Investments 
        Leading to Development Act of 2018 (22 U.S.C. 9621 et seq.) to 
        countries with upper-middle-income economies or high-income 
        economies (as those terms are defined by the World Bank) 
        without regard to the limitation under section 1412(c)(2) of 
        that Act (22 U.S.C. 9612(c)(2)).
            (2) Limitations.--The Corporation shall restrict the 
        provision of support to a country described in paragraph (1) 
        unless--
                    (A) the President certifies to the appropriate 
                congressional committees (as defined in section 1402 of 
                the Better Utilization of Investments Leading to 
                Development Act of 2018 (22 U.S.C. 9601)) that such 
                support furthers the national economic or foreign 
                policy interests of the United States; and
                    (B) such support is--
                            (i) designed to support the development of 
                        strategic supply chains in countries other than 
                        the People's Republic of China; or
                            (ii) necessary to preempt or counter 
                        efforts by a strategic competitor of the United 
                        States to secure significant political or 
                        economic leverage or acquire national security-
                        sensitive technologies or infrastructure in a 
                        country that is an ally or partner of the 
                        United States.
    (g) Duties and Subsidies.--An entity organized under the laws of an 
Americas partner country or another country, as the President considers 
appropriate, that is part of a strategic supply chain shall be treated 
not less favorably than a United States person with respect to duties, 
subsidies, and other related issues.
    (h) Millennium Challenge Corporation.--The Millennium Challenge 
Corporation may provide assistance under the Millennium Challenge Act 
of 2003 (22 U.S.C. 7701 et seq.) to an Americas partner country or 
another country, as the President considers appropriate, for purposes 
of supporting the near-shoring of strategic supply chains without 
regard to--
            (1) any requirement of that Act relating to competitive 
        procedures; or
            (2) the requirement to enter into a Compact under section 
        609 of that Act (22 U.S.C. 7708).
    (i) Trade and Development Agency.--The Trade and Development Agency 
may provide assistance under the section 661 of the Foreign Assistance 
Act of 1961 (22 U.S.C. 2421) to all Americas partner countries, without 
regard to the limitation under subsection (a) of that section, for 
purposes of supporting the near-shoring of strategic supply chains.
    (j) Technical Assistance.--The United States Agency for 
International Development, the Corporation, the Trade and Development 
Agency, and other relevant agencies shall provide technical assistance 
with respect to the near-shoring of strategic supply chains.

SEC. 255. TRANSFORMATIONAL ENERGY DEVELOPMENT.

    (a) Chief Energy Officer.--The BUILD Act of 2018 (22 U.S.C. 9601 et 
seq.) is amended--
            (1) in section 1402--
                    (A) by redesignating paragraphs (3) and (4) as 
                paragraphs (5) and (6), respectively;
                    (B) by redesignating paragraph (2) as paragraph 
                (3);
                    (C) by inserting after paragraph (1) the following:
            ``(2) Early-stage project technical assistance.--The term 
        `early-stage project technical assistance' includes--
                    ``(A) feasibility studies;
                    ``(B) resource evaluations;
                    ``(C) project appraisal and costing;
                    ``(D) pilot projects;
                    ``(E) commercial support, such as trade missions, 
                reverse trade missions, technical workshops, 
                international buyer projects, and international partner 
                searchers to link supplies to projects;
                    ``(F) technical assistance and other guidance to 
                improve the local regulatory environment and market 
                frameworks to encourage transparent competition and 
                enhance energy security; and
                    ``(G) long-term energy sector planning.'';
                    (D) by inserting after paragraph (3) (as so 
                redesignated) the following:
            ``(4) Multilateral development banks.--The term 
        `multilateral development banks' has the meaning given that 
        term in section 1701(c) of the International Financial 
        Institutions Act (22 U.S.C. 262r(c)).''; and
                    (E) by adding at the end the following:
            ``(7) Transformational energy technology.--The term 
        `transformational energy technology' means--
                    ``(A) renewable energy systems;
                    ``(B) hydrogen fuel cell technology for 
                residential, energy, industrial, or transportation 
                applications;
                    ``(C) advanced nuclear energy facilities;
                    ``(D) carbon capture, utilization, and 
                sequestration technologies;
                    ``(E) efficient electrical generation, 
                transmission, and distribution technologies;
                    ``(F) pollution control equipment;
                    ``(G) energy storage technologies for residential, 
                industrial, and transportation applications;
                    ``(H) technologies and systems for reducing potent 
                greenhouse gas pollutants, including methane leakage 
                from natural gas transmission and distribution 
                infrastructure;
                    ``(I) manufacturing and deployment of nuclear 
                supply components for advanced nuclear reactors;
                    ``(J) system-level energy management solutions;
                    ``(K) application of platform technologies, 
                including data analytics, artificial intelligence, and 
                other software to improve the energy efficiency and 
                effectiveness of energy infrastructure, including 
                electric grid operation;
                    ``(L) energy-water use efficiency in water 
                resources infrastructure and water-using technologies;
                    ``(M) carbon capture ready combined cycle natural 
                gas generation facilities;
                    ``(N) carbon capture ready supercritical or ultra-
                supercritical coal generation facilities;
                    ``(O) innovative technologies for improving the 
                resilience or reliability of existing energy 
                infrastructure, including innovative approaches to 
                improve the cybersecurity of energy technologies;
                    ``(P) innovative technologies for reducing 
                greenhouse emissions from industrial processes;
                    ``(Q) technologies used in the sourcing or 
                processing of critical minerals;
                    ``(R) technologies used in the gasification or 
                transport of natural gas, carbon dioxide, or hydrogen; 
                and
                    ``(S) any other technology, including recycled, 
                reused, refurbished, any repurposed technology, to 
                support innovative energy technologies or provide an 
                input or application for such technologies.'';
            (2) in section 1413--
                    (A) in subsection (a), by inserting ``a Chief 
                Energy Office,'' after ``a Chief Development 
                Officer,''; and
                    (B) by adding at the end the following:
    ``(j) Chief Energy Officer.--
            ``(1) Appointment.--Subject to the approval of the Board, 
        the Chief Executive Officer of the Corporation, with the 
        concurrence of the Administrator of the United States Agency 
        for International Development, shall appoint a Chief Energy 
        Officer from among individuals with experience in energy 
        development.
            ``(2) Duties.--The Chief Energy Officer shall--
                    ``(A) promote the export of transformational energy 
                technology to be used in the development, production, 
                and distribution of energy resources, critical 
                minerals, and energy efficiency and energy storage 
                equipment;
                    ``(B) to the maximum extent practicable, seek to 
                identify development opportunities and engage in early-
                stage project technical assistance to promote 
                transformational energy technology projects; and
                    ``(C) using broad criteria, make efforts to ensure 
                that the proportion of projects for which the 
                Corporation provides support that are transformational 
                energy technology projects is--
                            ``(i) not less than 30 percent of each form 
                        of support provided by the Corporation; and
                            ``(ii) not less than 30 percent of the 
                        total support provided by the Corporation for 
                        projects sponsored by or involving private 
                        sector entities that are United States persons.
            ``(3) Reports required.--
                    ``(A) Annual report.--Not later than 1 year after 
                the date of the enactment of this subsection, and 
                annually thereafter, the Chief Energy Officer shall 
                submit to the appropriate congressional committees a 
                report on transformational energy technology projects 
                that includes a description of--
                            ``(i) the development of such projects;
                            ``(ii) such projects under consideration 
                        for support by the Corporation;
                            ``(iii) coordination with other Federal 
                        agencies and with multilateral development 
                        banks with respect to such projects;
                            ``(iv) actions taken to identify 
                        opportunities for such projects and provide 
                        early-stage project technical assistance for 
                        such projects; and
                            ``(v) competition from multilateral 
                        development banks with respect to support for 
                        such projects.
                    ``(B) Energy development report.--Not later than 30 
                days following the close of each fiscal quarter, the 
                Chief Energy Officer shall update the Joint Energy 
                Export, Development, and Trade Database established 
                under section 255(d) of the Americas Act with 
                information relevant to the international finance of 
                energy generation and associated infrastructure as 
                determined by the Deputy Assistant Secretary for the 
                Americas Partnership.''; and
            (3) in title V, by adding at the end the following:

``SEC. 1455. ENERGY FINANCING CONSIDERATIONS.

    ``(a) Exception for Less Developed Countries.--Notwithstanding 
section 1412(c), if the Corporation determines that a project to be 
carried out in a country that is not a less developed country and is 
under consideration for support from the Corporation may receive 
financing from the Government of the Russian Federation or the 
Government of the People's Republic of China, the Corporation may 
dedicate not more than 20 percent of the funds available to provide 
support for transformational energy technology projects to such 
country.
    ``(b) Substitution Effect Consideration.--In any environmental 
assessment for a transformational energy technology project under 
consideration for support provided by the Corporation, the Chief Energy 
Officer shall consider--
            ``(1) whether the project is under consideration for 
        support from another country with--
                    ``(A) greater emission intensity than the United 
                States; or
                    ``(B) less stringent environmental standards than 
                the United States; and
            ``(2) the environmental impacts that would occur if--
                    ``(A) the Corporation declined to provide support; 
                and
                    ``(B) a country with greater emission intensity or 
                less stringent environmental standards than the United 
                States provided financing to develop the project.
    ``(c) Publication of Terms.--Not later than 18 months after the 
commencement of construction on a transformational energy technology 
project, the Chief Energy Officer shall make publicly available the 
terms of the contract for the project.''.
    (b) Office of Energy.--Section 2(b)(1) of the Export-Import Bank 
Act of 1945 (12 U.S.C. 635(b)(1)) is amended--
            (1) by striking subparagraph (C) and inserting the 
        following:
    ``(C) Office of Energy.--
            ``(i) Establishment.--There shall be in the Bank the Office 
        of Energy (referred to in this subparagraph as the `Office').
            ``(ii) Purpose.--The purpose of the Office shall be to 
        promote the export of goods and services to be used in the 
        development, production, and distribution of eligible 
        technologies.
            ``(iii) Early-stage project technical assistance.--The 
        Office shall provide, to the maximum extent practicable, early-
        stage project technical assistance to promote eligible 
        technologies.
            ``(iv) Reports required.--
                    ``(I) Annual report.--Not later than 1 year after 
                the date of the enactment of the Americas Act, and 
                annually thereafter, the Office shall submit to the 
                appropriate congressional committees a report on--
                            ``(aa) the development of projects for the 
                        export of goods and services to be used in the 
                        development, production, and distribution of 
                        eligible technologies;
                            ``(bb) such projects under consideration 
                        for support by the Bank;
                            ``(cc) coordination with other Federal 
                        agencies and with multilateral development 
                        banks with respect to such projects;
                            ``(dd) actions taken to identify 
                        opportunities for such projects and provide 
                        early-stage project technical assistance for 
                        such projects; and
                            ``(ee) competition from multilateral 
                        development banks with respect to support for 
                        projects.
                    ``(II) Energy development report.--Not later than 
                30 days following the close of each fiscal quarter, the 
                Office shall update the Joint Energy Export, 
                Development, and Trade Database established under 
                section 255(d) of the Americas Act with information 
                relevant to the international finance of energy 
                generation and associated infrastructure as determined 
                by the Deputy Assistant Secretary for the Americas 
                Partnership.
            ``(v) Content policy adjustments.--
                    ``(I) In general.--The Bank may guarantee or insure 
                not more than 100 percent of a contract for the export 
                of goods and services to be used in the development, 
                production, and distribution of eligible technologies 
                if not less than 50 percent of the goods and services 
                to be exported under the contract are goods and 
                services that originated or were produced in the United 
                States.
                    ``(II) Adjustment for local goods and services.--In 
                the case of a project described in subclause (I), the 
                Bank may provide financing with respect to goods and 
                services that were produced or originated in the 
                country of the buyer in an amount not to exceed 50 
                percent of the value of goods and services exported 
                from the United States under the contract.
            ``(vi) Target.-- It shall be a goal of the Bank to ensure 
        that not less than 30 percent of the applicable amount (as 
        defined in section 6(a)(2)) is made available each fiscal year 
        for the financing of exports of goods and services to be used 
        in the development, production, and distribution of eligible 
        technologies.
            ``(vii) Substitution effect consideration.--In any 
        environmental assessment for a project for the export of goods 
        and services to be used in the development, production, and 
        distribution of eligible technologies under consideration for 
        support provided by the Bank, the Office shall consider--
                    ``(I) whether the project is under consideration 
                for financing from another country with--
                            ``(aa) greater emission intensity than the 
                        United States; or
                            ``(bb) less stringent environmental 
                        standards than the United States; and
                    ``(II) the environmental impacts that would occur 
                if--
                            ``(aa) the Bank declined to provide 
                        financing; and
                            ``(bb) a country with greater emission 
                        intensity or less stringent environmental 
                        standards than the United States provided 
                        financing to develop the project.
            ``(viii) Publication of terms.--Not later than 18 months 
        after the commencement of construction on a project involving 
        eligible technologies, the Office shall make publicly available 
        the terms of the contract for the project.
            ``(ix) Definitions.--In this subparagraph:
                    ``(I) Early-stage project technical assistance.--
                The term `early-stage project technical assistance' 
                includes--
                            ``(aa) feasibility studies;
                            ``(bb) resource evaluations;
                            ``(cc) project appraisal and costing;
                            ``(dd) pilot projects;
                            ``(ee) commercial support, such as trade 
                        missions, reverse trade missions, technical 
                        workshops, international buyer projects, and 
                        international partner searchers to link 
                        supplies to projects;
                            ``(ff) technical assistance and other 
                        guidance to improve the local regulatory 
                        environment and market frameworks to encourage 
                        transparent competition and enhance energy 
                        security; and
                            ``(gg) long-term energy sector planning.
                    ``(II) Eligible technology.--The term `eligible 
                technology' means--
                            ``(aa) renewable energy systems;
                            ``(bb) hydrogen fuel cell technology for 
                        residential, energy, industrial, or 
                        transportation applications;
                            ``(cc) advanced nuclear energy facilities;
                            ``(dd) carbon capture, utilization, and 
                        sequestration technologies;
                            ``(ee) efficient electrical generation, 
                        transmission, and distribution technologies;
                            ``(ff) pollution control equipment;
                            ``(gg) energy storage technologies for 
                        residential, industrial, and transportation 
                        applications;
                            ``(hh) technologies and systems for 
                        reducing potent greenhouse gas pollutants, 
                        including methane leakage from natural gas 
                        transmission and distribution infrastructure;
                            ``(ii) manufacturing and deployment of 
                        nuclear supply components for advanced nuclear 
                        reactors;
                            ``(jj) system-level energy management 
                        solutions;
                            ``(kk) application of platform 
                        technologies, including data analytics, 
                        artificial intelligence, and other software to 
                        improve the energy efficiency and effectiveness 
                        of energy infrastructure, including electric 
                        grid operation;
                            ``(ll) energy-water use efficiency in water 
                        resources infrastructure and water-using 
                        technologies;
                            ``(mm) carbon capture ready combined cycle 
                        natural gas generation facilities;
                            ``(nn) carbon capture ready supercritical 
                        or ultra-supercritical coal generation 
                        facilities;
                            ``(oo) innovative technologies for 
                        improving the resilience or reliability of 
                        existing energy infrastructure, including 
                        innovative approaches to improve the 
                        cybersecurity of energy technologies;
                            ``(pp) innovative technologies for reducing 
                        greenhouse emissions from industrial processes;
                            ``(qq) technologies used in the sourcing or 
                        processing of critical minerals;
                            ``(rr) technologies used in the 
                        gasification or transport of natural gas, 
                        carbon dioxide, or hydrogen; and
                            ``(ss) any other technology, including 
                        recycled, reused, refurbished, any repurposed 
                        technology, to support innovative energy 
                        technologies or provide an input or application 
                        for such technologies.''; and
            (2) by striking subparagraph (K).
    (c) Program on Transformational Exports.--The Export-Import Bank 
Act of 1945 (12 U.S.C. 635 et seq.) is amended--
            (1) in section 2(l)--
                    (A) in the subsection heading, by striking ``China 
                and'';
                    (B) in paragraph (1)--
                            (i) in the matter preceding subparagraph 
                        (A)--
                                    (I) by striking ``China and''; and
                                    (II) by striking ``by the People's 
                                Republic of China or'';
                            (ii) in subparagraph (A), by striking ``by 
                        the People's Republic of China or''; and
                            (iii) in subparagraph (B)--
                                    (I) in the matter preceding clause 
                                (i), by striking ``the People's 
                                Republic of China'' and inserting 
                                ``covered countries''; and
                                    (II) in clause (vi), by striking 
                                ``Renewable energy'' and inserting 
                                ``Eligible technology'';
                    (C) in paragraph (2)--
                            (i) by redesignating subparagraphs (A), 
                        (B), and (C) as subparagraphs (C), (D), and 
                        (E), respectively; and
                            (ii) by inserting after the matter 
                        preceding subparagraph (C) (as redesignated by 
                        clause (i)) the following:
                    ``(C) the People's Republic of China; and
                    ``(D) the Russian Federation;''; and
                    (D) in paragraph (3)--
                            (i) in subparagraph (A)--
                                    (I) by striking ``20 percent'' and 
                                inserting ``50 percent''; and
                                    (II) by striking ``China and'';
                            (ii) in subparagraph (B), in the matter 
                        preceding clause (i)--
                                    (I) by striking ``20 percent'' and 
                                inserting ``50 percent''; and
                                    (II) by striking ``the People's 
                                Republic of China is'' and inserting 
                                ``the People's Republic of China and 
                                the Russian Federation are''; and
                            (iii) in subparagraph (D), by striking 
                        ``China and'';
            (2) in section 8(l)--
                    (A) in the subsection heading, by striking ``Under 
                the'' and all that follows through ``Exports'' and 
                inserting ``Under the Program on Transformational 
                Exports''; and
                    (B) in the text, by striking ``China and''; and
            (3) in section 8A(a)(5)--
                    (A) in the heading, by striking ``renewable'' and 
                inserting ``clean'';
                    (B) by striking ``renewable'' each place it appears 
                and inserting ``clean''; and
                    (C) by striking ``section 2(b)(1)(K)'' and 
                inserting ``section 2(b)(1)(C)''.
    (d) Joint Energy Export, Development, and Trade Database.--
            (1) Definitions.--In this subsection:
                    (A) Appropriate congressional committees.--The term 
                ``appropriate congressional committees'' means--
                            (i) the Committee on Energy and Natural 
                        Resources, the Committee on Finance, the 
                        Committee on Banking, Housing, and Urban 
                        Affairs, and the Committee on Foreign Relations 
                        of the Senate; and
                            (ii) the Committee on Energy and Commerce, 
                        the Committee on Ways and Means, the Committee 
                        on Financial Services, and the Committee on 
                        Foreign Affairs of the House of 
                        Representatives.
                    (B) Database.--The term ``Database'' means the 
                Joint Energy Export, Development, and Trade Database.
                    (C) Deputy assistant secretary.--The term ``Deputy 
                Assistant Secretary'' means the Deputy Assistant 
                Secretary for the Americas Partnership.
                    (D) Eligible technology.--The term ``eligible 
                technology'' means--
                            (i) renewable energy systems;
                            (ii) hydrogen fuel cell technology for 
                        residential, energy, industrial, or 
                        transportation applications;
                            (iii) advanced nuclear energy facilities;
                            (iv) carbon capture, utilization, and 
                        sequestration technologies;
                            (v) efficient electrical generation, 
                        transmission, and distribution technologies;
                            (vi) pollution control equipment;
                            (vii) energy storage technologies for 
                        residential, industrial, and transportation 
                        applications;
                            (viii) technologies and systems for 
                        reducing potent greenhouse gas pollutants, 
                        including methane leakage from natural gas 
                        transmission and distribution infrastructure;
                            (ix) manufacturing and deployment of 
                        nuclear supply components for advanced nuclear 
                        reactors;
                            (x) system-level energy management 
                        solutions;
                            (xi) application of platform technologies, 
                        including data analytics, artificial 
                        intelligence, and other software to improve the 
                        energy efficiency and effectiveness of energy 
                        infrastructure, including electric grid 
                        operation;
                            (xii) energy-water use efficiency in water 
                        resources infrastructure and water-using 
                        technologies;
                            (xiii) carbon capture ready combined cycle 
                        natural gas generation facilities;
                            (xiv) carbon capture ready supercritical or 
                        ultra-supercritical coal generation facilities;
                            (xv) innovative technologies for improving 
                        the resilience or reliability of existing 
                        energy infrastructure, including innovative 
                        approaches to improve the cybersecurity of 
                        energy technologies;
                            (xvi) innovative technologies for reducing 
                        greenhouse emissions from industrial processes;
                            (xvii) technologies used in the sourcing or 
                        processing of critical minerals;
                            (xviii) technologies used in the 
                        gasification or transport of natural gas, 
                        carbon dioxide, or hydrogen; and
                            (xix) any other technology to support 
                        innovative energy technologies or provide an 
                        input or application for such technologies.
            (2) Establishment.--Not later than 180 days after the date 
        of the enactment of this Act, the Secretary of Energy shall 
        establish a database to be known as the ``Joint Energy Export, 
        Development, and Trade Database''.
            (3) Management.--The Deputy Assistant Secretary shall--
                    (A) manage the Database;
                    (B) ensure the agencies described in paragraph (5) 
                may directly access the Database to provide the 
                contents required under paragraph (4); and
                    (C) ensure that the Database is interoperable with 
                the e-government system.
            (4) Contents.--
                    (A) In general.--The Database shall contain 
                information provided by each agency described in 
                paragraph (5) and determined by the Deputy Assistant 
                Secretary, in consultation with industry partners, to 
                be relevant to the international finance of eligible 
                technology, including--
                            (i) for each project related to eligible 
                        technology supported by the agency--
                                    (I) a description of the project;
                                    (II) an identification of the 
                                country in which the project is being 
                                carried out; and
                                    (III) an identification of the 
                                primary foreign participants in the 
                                project;
                            (ii) details of the request for each such 
                        project, including--
                                    (I) the support requested, 
                                including the technical assistance; and
                                    (II) project timelines; and
                            (iii) a description of actions taken by the 
                        agency with respect to each such project 
                        regarding--
                                    (I) financing;
                                    (II) technical assistance;
                                    (III) potential hurdles;
                                    (IV) areas for collaboration among 
                                agencies;
                                    (V) relevant timelines;
                                    (VI) consideration of the effects 
                                of support being provided by another 
                                country if the agency declines to 
                                provide support, if applicable; and
                                    (VII) status updates.
                    (B) Additional content.--The Deputy Assistant 
                Secretary may require such additional information to be 
                included in the Database as the Deputy Assistant 
                Secretary considers necessary--
                            (i) to enable collaboration between the 
                        agencies described in paragraph (5); and
                            (ii) to aid the expansion of energy 
                        financing.
                    (C) Updates to database.--Each agency described in 
                paragraph (5) shall update the Database not less 
                frequently than quarterly.
            (5) Agencies described.--The agencies described in this 
        paragraph shall include--
                    (A) the Department of Energy;
                    (B) the Department of Commerce;
                    (C) the Department of State;
                    (D) the Export-Import Bank of the United States;
                    (E) the United States International Development 
                Finance Corporation;
                    (F) the Trade and Development Agency;
                    (G) the United States Agency for International 
                Development;
                    (H) the Department of the Treasury;
                    (I) the Office of the United States Trade 
                Representative; and
                    (J) the BUILD Americas Unit.
            (6) Agency coordination.--
                    (A) In general.--Not later than 270 days after the 
                date of the enactment of this Act, and quarterly 
                thereafter, the Deputy Assistant Secretary and other 
                officials of equivalent rank from the agencies 
                described in paragraph (5) shall meet to review the 
                Database and identify areas for collaboration on 
                projects described in the Database.
                    (B) Additional participants.--
                            (i) In general.--The Deputy Assistant 
                        Secretary may invite the individuals described 
                        in clause (ii) to attend the meetings described 
                        in subparagraph (A).
                            (ii) Individuals described.--The 
                        individuals described in this subparagraph 
                        are--
                                    (I) the United States Executive 
                                Director of the World Bank Group;
                                    (II) the United States Executive 
                                Director of the Inter-American 
                                Development Bank;
                                    (III) the United States Executive 
                                Director of the Asian Development Bank;
                                    (IV) the United States Executive 
                                Director of the African Development 
                                Bank;
                                    (V) the United States Executive 
                                Director of the European Bank for 
                                Reconstruction and Development; and
                                    (VI) any other head of a Federal 
                                agency as the Deputy Assistant 
                                Secretary considers appropriate.
            (7) Reports required.--Not later than 270 days after the 
        date of the enactment of this Act, and quarterly thereafter, 
        the Deputy Assistant Secretary shall submit to the appropriate 
        congressional committees a report on the Database, which shall 
        include--
                    (A) a summary of the information provided in 
                accordance with paragraph (4); and
                    (B) an identification of key updates made by the 
                agencies described in paragraph (5).
    (e) Treatment of Equity Investments at the Development Finance 
Corporation.--Section 1421(c) of the BUILD Act of 2018 (22 U.S.C. 
9621(c)) is amended by adding at the end the following:
            ``(7) Treatment of equity investments.--
                    ``(A) In general.--Subject to subparagraphs (B) and 
                (C), support provided under paragraph (1) with respect 
                to a project shall be considered a Federal credit 
                program that is subject to the Federal Credit Reform 
                Act of 1990 (2 U.S.C. 661 et seq.) for purposes of 
                applying the requirements of such Act to such support.
                    ``(B) Determination of cost.--
                            ``(i) In general.--The cost (as defined in 
                        subsection 502(5) of the Federal Credit Reform 
                        Act of 1990 (2 U.S.C. 661a(5))) of support 
                        provided under paragraph (1) with respect to a 
                        project shall be the net present value, at the 
                        time when funds are disbursed to provide the 
                        support, of the following estimated cash flows:
                                    ``(I) The purchase price of the 
                                support.
                                    ``(II) Dividends, redemptions, and 
                                other shareholder distributions during 
                                the term of the support.
                                    ``(III) Proceeds received upon a 
                                sale, redemption, or other liquidation 
                                of the support.
                            ``(ii) Changes in terms included.--The 
                        estimated cash flows described in subclauses 
                        (I) through (III) of clause (i) shall include 
                        the effects of changes in terms resulting from 
                        the exercise of options included in the 
                        agreement to provide the support.
                    ``(C) Treatment of risk.--
                            ``(i) In general.--The Corporation shall 
                        hold in reserve an amount equal to 5 percent of 
                        the amount of financing outstanding under 
                        paragraph (1) to ensure that the Corporation 
                        has funds available if necessary as a result 
                        of--
                                    ``(I) any difference between the 
                                cost of support under paragraph (1) 
                                estimated before the date of the 
                                enactment of the Americas Act and 
                                reestimated, as required by this 
                                paragraph, after such date of 
                                enactment; and
                                    ``(II) any other losses that occur 
                                as the result of an equity investment.
                            ``(ii) Deduction from maximum contingent 
                        liability.--The maximum contingent liability 
                        under section 1433 shall be reduced by the 
                        amount held in reserve under clause (i).''.
    (f) Modification of Maximum Contingent Liability at the Development 
Finance Corporation.--Section 1433 of the BUILD Act of 2018 (22 U.S.C. 
9633) is amended to read as follows:

``SEC. 1433. MAXIMUM CONTINGENT LIABILITY.

    ``The maximum contingent liability of the Corporation outstanding 
at any one time shall not exceed in the aggregate $90,000,000,000.''.
    (g) Modification of Aggregate Loan, Guarantee, and Insurance 
Authority of Export Import Bank.--Section 6(a)(2) of the Export-Import 
Bank Act of 1945 (12 U.S.C. 635e(a)(2)) is amended by striking ``2020 
through 2027, means $135,000,000,000'' and inserting ``2022 through 
2027, means $175,000,000,000''.
    (h) Energy Plan for the Americas.--
            (1) In general.--Not later than 180 days after the date of 
        the enactment of this Act, the Chief Energy Officer of the 
        United States International Development Finance Corporation 
        (established under subsection (j) of section 1413 of the BUILD 
        Act, as added by subsection (a)(2)), in coordination with the 
        officials specified in paragraph (3), shall submit to Congress 
        a comprehensive energy plan for the Americas.
            (2) Elements.--The plan required by paragraph (1) shall 
        address the following:
                    (A) Challenges, limitations, and opportunities in 
                the Americas for investment in securing the energy 
                independence of the Western Hemisphere.
                    (B) Renewable and non-renewable sources of energy.
                    (C) A list of major investments required to carry 
                out the plan.
                    (D) Energy regulations to be addressed by the 
                business advisory board established pursuant to section 
                202.
                    (E) Impact of the plan on global carbon emissions 
                and approaches for achieving carbon neutrality.
                    (F) Such other information relating to affordable 
                energy independence in the Americas as the Chief Energy 
                Officer considers appropriate.
            (3) Officials specified.--The officials specified in this 
        paragraph are the following:
                    (A) The Secretary of Commerce.
                    (B) The Administrator of the United States Agency 
                for International Development.
                    (C) The Secretary of State.
                    (D) The United States Trade Representative.
                    (E) The Director of the Trade and Development 
                Agency.
                    (F) The head of any other agency the Chief Energy 
                Officer considers appropriate.

                Subtitle D--People-to-People Activities

SEC. 261. HUMANITARIAN AND BUSINESS DEVELOPMENT ASSISTANCE.

    (a) Sense of Congress.--It is the sense of Congress that--
            (1) the promotion of human rights and democracy around the 
        world is essential;
            (2) such promotion should continue to be incorporated into 
        ongoing programs, such as those of the Bureau of Democracy, 
        Human Rights, and Labor of the Department of State, the Office 
        of Democracy and Governance of the United States Agency for 
        International Development, the National Endowment for 
        Democracy, the Commercial Law Development Program at the 
        Department of Commerce, and other governmental and 
        nongovernmental entities;
            (3) the activities authorized under this subtitle should 
        remain focused on the objectives of this subtitle; and
            (4) any funds appropriated pursuant to this subtitle should 
        be expended on such activities.
    (b) Purpose.--The purposes of this section are--
            (1) to deepen the cultural and people-to-people ties 
        between the people of Americas partner countries;
            (2) to facilitate the establishment of sustainable market 
        solutions to increase the economic advancement interdependence 
        of the countries in the Western Hemisphere; and
            (3) to advance the objectives of this subtitle through 
        support to businesses, which should remain focused on those 
        endeavors.
    (c) Assistance Authorized.--
            (1) In general.--The Secretary of State, in consultation 
        with the Administrator of the United States Agency for 
        International Development, the Director of the United States 
        Trade and Development Agency, and the Secretary of Commerce, 
        shall establish a people-to-people assistance program through 
        which individuals in Americas partner countries may participate 
        in programs funded by the United States Government.
            (2) Program elements.--The programs established pursuant to 
        paragraph (1) shall remain focused on achieving the objectives 
        of the Americas Partnership Threshold Program established under 
        section 223(a), and may include grants and contracts for--
                    (A) training programs related to public 
                administration, such as the Global Procurement 
                Initiative of the United States Trade and Development 
                Agency, and good regulatory practices and practices of 
                internal governance;
                    (B) technical assistance related to--
                            (i) improved service delivery for public 
                        services;
                            (ii) studies, reports, and other 
                        deliverables needed related to engineering, 
                        construction, maintenance of public or private 
                        infrastructure;
                            (iii) feasibility studies related to 
                        private sector investments; and
                            (iv) startup grants, venture capital, and 
                        equity for establishing and growing businesses; 
                        and
                            (v) other activities to support the 
                        Americas Partnership Threshold Program; and
                    (C) other people-to-people assistance authorized by 
                the Secretary of State.
            (3) Implementation.--The Secretary of State is authorized 
        to enter into contracts with for-profit private sector entities 
        to implement the people-to-people assistance program authorized 
        under this subsection.
    (d) Americas Partnership Accelerator Program.--
            (1) Establishment.--There is established within the United 
        States Agency for International Development a program to be 
        known as the Americas Partnership Accelerator Program, which 
        shall catalyze small and medium industries within Americas 
        partner countries by providing short-term, tangible successes, 
        which will help people recognize entrepreneurs in their 
        communities who are benefiting from the Americas program.
            (2) Authorization of appropriations.--There is authorized 
        to be appropriated, from the Re-shoring and Near-shoring 
        Account established under section 301, $15,000,000 to carry out 
        the program established under paragraph (1).
    (e) Americas Partnership Fund for Nature.--
            (1) Establishment.--There is established in the Treasury of 
        the United States the Americas Partnership Fund for Nature, 
        which shall be used by the United States Agency for 
        International Development to assist Americas partner countries 
        by catalyzing activities advancing conservation efforts through 
        grants, technical assistance, and other tools.
            (2) Authorization of appropriations.--There is authorized 
        to be appropriated, from the Re-shoring and Near-shoring 
        Account established under section 301, $10,000,000 to carry out 
        the activities described in paragraph (1).
    (f) Funding.--The Secretary of State may expend such sums as may be 
necessary from the Re-shoring and Near-shoring Account established 
under section 301 to carry out this section.

SEC. 262. DEPARTMENT OF STATE.

    (a) Cultural Affairs Programs.--The Secretary of State may provide 
Americas partner countries with additional cultural affairs 
programming, including--
            (1) additional English language programming;
            (2) additional scholarship slots for the J. William 
        Fulbright Educational Exchange Program authorized under the 
        Mutual Educational and Cultural Exchange Act of 1961 (22 U.S.C. 
        2451 et seq.);
            (3) increased participation in the Fulbright-Hays Program 
        authorized under section 102 of the Mutual Educational and 
        Cultural Exchange Act of 1961 (22 U.S.C. 2452);
            (4) additional slots in exchange programs of the Bureau of 
        Educational and Cultural Affairs that benefit outbound American 
        citizens;
            (5) additional cultural exchange programs in music and the 
        arts;
            (6) establishing additional ``American Corners'' or other 
        outreach mechanisms; and
            (7) the appropriation of additional amounts for the 
        Ambassador's Special Self-Help Fund authorized under the 
        Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.).
    (b) Existing Programs.--The Secretary of State may build upon 
existing programs, such as the 100,000 Strong in the Americas 
Innovation Fund, the College Horizons Opportunity Program, Young 
Leaders of the Americas Initiative, and other programs, as the 
Secretary deems appropriate.
    (c) Funding.--In addition to any other amounts made available to 
the Bureau of Western Hemisphere Affairs, the Secretary of State may 
expend such sums as may be necessary from the Re-shoring and Near-
shoring Account established under section 301 to carry out this 
section.

SEC. 263. PEACE CORPS.

    (a) Additional Volunteers in Americas Partner Countries.--The 
Director of the Peace Corps shall take the necessary steps to double 
the number of Peace Corps volunteers in each Americas partner country 
during the 27-month period immediately following the date on which such 
country enters into a partnership agreement pursuant to section 201.
    (b) Establishing a Peace Corps Volunteers in New Countries.--As 
soon as possible after an Americas partner country that does not have a 
Peace Corps presence enters into a partnership agreement pursuant to 
section 201, the Director of the Peace Corps shall take the necessary 
steps to assign Peace Corps volunteers to such country.
    (c) Offsets.--The cost of deploying additional Peace Corps 
volunteers to Americas partner countries under this section shall be 
paid for--
            (1) with offsets from Peace Corps deployments to other 
        countries; or
            (2) from the Re-shoring and Near-shoring Account 
        established under section 301.

SEC. 264. AMERICAN UNIVERSITY OF THE AMERICAS.

    (a) Sense of Congress.--It is the sense of Congress that--
            (1) quality university education is essential for the 
        advancement of free, prosperous societies;
            (2) there is not a Latin American university included among 
        the top 100 global universities in the U.S. News and World 
        Report's 2022-2023 rankings;
            (3) there is a significant need for high-quality, 
        nonideological, affordable university education in Latin 
        America, especially education that is focused on science, 
        technology, engineering, and math; and
            (4) it is essential to protect intellectual diversity on 
        college campuses, while not attempting to limit freedom of 
        speech.
    (b) Establishment.--
            (1) In general.--During the 2-year period beginning on the 
        date that is 1 year after the date of the enactment of this 
        Act, the Administrator of the United States Agency for 
        International Development, in cooperation with American Schools 
        and Hospitals Abroad, shall establish the American University 
        of the Americas in up to 3 Americas partner countries selected 
        by the Administrator, in consultation with the Secretary of 
        Education.
            (2) Independence.--The American University of the 
        Americas--
                    (A) shall be modeled after similar institutions, 
                such as the American University of Armenia, the 
                American University of Dubai, the American University 
                of Nigeria, and the American University of Cairo;
                    (B) shall remain independent of the United States 
                Government; and
                    (C) shall be registered as a legal educational 
                entity in the country in which its headquarters is 
                located.
            (3) Federal government support.--Notwithstanding paragraph 
        (2), the United States Government shall support the American 
        University of the Americas by--
                    (A) facilitating its founding, including its 
                registration as a legal educational entity;
                    (B) offering assistance with the development of 
                academic programs;
                    (C) providing needed financial assistance;
                    (D) advising the Center of Excellence for Combating 
                Corruption established pursuant to subsection (h); and
                    (E) retaining a seat on the Board for the Chief 
                Administrator of the Americas Investment Corporation.
            (4) Authorized campuses.--
                    (A) In general.--Of the campuses of the American 
                University of the Americas authorized to be established 
                under paragraph (1)--
                            (i) 1 campus may be established in Central 
                        America;
                            (ii) 1 campus may be established in the 
                        Caribbean; and
                            (iii) 1 campus may be established in the 
                        Southern Cone.
                    (B) Joint operations.--The 3 campuses established 
                pursuant to subparagraph (A) may share administrative, 
                legal, and academic resources.
    (c) Host Country Selection.--
            (1) Solicitation of proposals.--The Administrator shall 
        solicit proposals from Americas partner countries desiring to 
        host the American University of the Americas.
            (2) Proposal contents.--Proposals submitted pursuant to 
        paragraph (1) shall--
                    (A) identify the proposed location of the 
                institution;
                    (B) evaluate the financial viability of the 
                institution;
                    (C) describe the support that the host government 
                is committed to provide to the institution;
                    (D) include a sustainability plan for the 
                institution;
                    (E) identify possible private-sector, nonprofit, 
                and other partners who have committed to work with the 
                institution;
                    (F) identify individuals who have agreed to serve 
                on the institution's board of directors, with letters 
                of commitment; and
                    (G) identify any local legislation that will need 
                to be enacted in order to establish the institution in 
                the host country, along with a plan to enact such 
                legislation.
            (3) Grant.--
                    (A) In general.--The Administrator shall award a 
                grant to each country selected to host a campus of the 
                American University of the Americas to provide startup 
                funding.
                    (B) Eligible entities.--A grant authorized under 
                subparagraph (A) may be given to a university, the 
                ministry of higher education of the host country, or 
                any other organization that is capable of facilitating 
                the establishment of a campus of the American 
                University of the Americas in accordance with this 
                section.
            (4) Legal registration.--After a country is selected to 
        host the American University of the Americas, the Administrator 
        shall formally register the institution in such country.
    (d) Accreditation.--
            (1) In general.--Not later than 5 years after the date on 
        which the American University of the Americas begins 
        operations, the institution shall seek accreditation with an 
        accrediting agency recognized by the Department of Education in 
        accordance with subtitle B of title 34, Code of Federal 
        Regulations.
            (2) Foreign accreditation.--The representative of the 
        United States in the Americas Partnership business advisory 
        board established pursuant to section 202 shall encourage 
        collaboration with Americas partner countries to ensure the 
        accreditation of science, technology, engineering, math, and 
        medicine degrees with the appropriate education ministries or 
        departments of Americas partner country governments.
    (e) Degrees; Coursework.--
            (1) STEM and business development degrees.--Federal funding 
        for the American University of the Americas may only be used to 
        subsidize courses leading to a degree in science, technology, 
        engineering, math, medicine, business development, or 
        management. Prerequisites may only be allowed for coursework 
        related to such degrees.
            (2) Exchange programs; virtual learning.--The American 
        University of the Americas shall offer exchange programs and 
        virtual learning programs.
            (3) Languages.--The languages of instruction for the 
        American University of the Americas--
                    (A) shall be governed by local law and accompanying 
                regulations of accreditation agencies, with an effort 
                to assure fully bilingual graduates; and
                    (B) shall include the English language.
    (f) Funding Limitation.--The American University of the Americas 
may not accept any funding from the Government of the People's Republic 
of China, the Government of the Republic of Cuba, the Government of the 
Bolivarian Republic of Venezuela, the Government of the Russian 
Federation, the Government of the Islamic Republic of Iran, or any 
individual or institution working on behalf of any such government. If 
any funding is accepted by the American University of the Americas in 
violation of this subsection, the relationship between the United 
States and the institution shall be immediately terminated.
    (g) Centers of Excellence.--The American University of the Americas 
shall include a Center of Excellence for Combating Corruption, Human, 
and Other Trafficking and Organized Crime that carries out research and 
pubic education related to corruption, money laundering (including 
trade-based money laundering), human trafficking, drug trafficking, and 
other related criminal activities in Americas partner countries and 
throughout the Americas.
    (h) Funding.--The Secretary of State may expend such sums as may be 
necessary from the Re-shoring and Near-shoring Account established 
under section 301 to carry out this section.

SEC. 265. UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT CARIBBEAN 
              AND LATIN AMERICAN SCHOLARSHIP PROGRAM III.

    (a) In General.--The Administrator of the United States Agency for 
International Development shall establish a scholarship program, which 
be known as the Caribbean and Latin American Scholarship Program III--
            (1) shall be modeled after the second phase of the 
        Caribbean and Latin American Scholarship Program (commonly 
        known as CLASP-II);
            (2) shall offer full ride scholarships (including tuition, 
        fees, and reasonable accommodations) to qualifying students in 
        partner countries;
            (3) shall offer bachelor's and master's degrees in science, 
        technology, engineering, math, and the English language; and
            (4) shall require students--
                    (A) to study outside of their respective countries 
                of citizenship; and
                    (B) to commit to return to their respective 
                countries of origin following the completion of their 
                studies.
    (b) Authorization of Appropriations.--There is authorized to be 
appropriated, from the Re-shoring and Near-shoring Account established 
under section 301, $20,000,000 for fiscal year 2024 and each successive 
fiscal year to carry out the scholarship program authorized under 
subsection (a) in Americas partner countries.

SEC. 266. CONCERN FOR ADVANCED RETIRED AND ELDERLY NONIMMIGRANT VISA 
              PROGRAM FOR ALIENS WHO PROVIDE DIRECT CARE FOR ELDERLY 
              POPULATIONS.

    (a) Findings.--Congress makes the following findings:
            (1) In 2015, there were an estimated 47,800,000 individuals 
        in the United States who were 65 years of age or older, and by 
        2030, it is expected that there will be nearly 73,000,000 
        individuals in the United States who are 65 years of age or 
        older, which is approximately \1/5\ of the population.
            (2) In 2020--
                    (A) 45 percent of individuals caring for an elderly 
                family member in the United States experienced 
                financial hardship as a result of such caregiving, of 
                whom 28 percent stopped saving and 22 percent exhausted 
                their personal short-term savings;
                    (B) 15 percent of United States workers 
                transitioned from full-time employment to part-time 
                employment due to the need to provide care for an 
                elderly family member;
                    (C) 6 percent of United States workers left the 
                workforce entirely to care for an elderly loved one; 
                and
                    (D) 27 percent of United States workers reported 
                finding affordable elder care services very difficult, 
                and 33 percent of such workers reported finding such 
                services moderately difficult.
            (3) If working family caregivers aged 50 years and older 
        are provided the support they need to care for their loved 
        ones, the gross domestic product of the United States could 
        grow by an additional $1,700,000,000,000 by 2030.
            (4) In the United States, nursing assistants and home 
        health aides--
                    (A) comprise the largest group of workers in the 
                long-term care workforce; and
                    (B) are among the 10 occupations experiencing the 
                highest levels of job growth.
            (5) In 2014, there were approximately 1,220,000 nursing 
        assistants and 704,500 home health aides in the United States.
            (6) The need for workers providing direct care for elderly 
        populations is expected to grow by 34 percent by 2030, which is 
        significantly higher than the capacity of United States workers 
        to fill the need.
    (b) Sense of Congress.--It is the sense of Congress that--
            (1) the increasing care needs of the elderly population of 
        the United States is of increasing significance, both in terms 
        of cost and time, as United States family size decreases and 
        the overall population ages; and
            (2) the establishment of a nonimmigrant visa category to 
        increase the availability of caregivers and lower the cost of 
        caring for the elderly will allow the family members of the 
        elderly, particularly women and single heads of household who 
        historically have taken a greater role in caring for elderly 
        parents, to continuing working rather than taking on a 
        caregiving role.
    (c) Concern for Advanced Retired and Elderly Nonimmigrant Visa 
Program.--
            (1) In general.--Section 101(a)(15) of the Immigration and 
        Nationality Act (8 U.S.C. 1101(a)(15)) is amended--
                    (A) in subparagraph (T)(ii)(III), by striking the 
                period at the end and inserting a semicolon;
                    (B) in subparagraph (U)(iii), by striking ``or'' at 
                the end;
                    (C) in subparagraph (V)(ii)(II), by striking the 
                period at the end and inserting ``; or''; and
                    (D) by adding at the end the following:
            ``(W) subject to section 214(s), an alien who seeks 
        admission to the United States temporarily for the purpose of 
        providing direct care, as a nursing assistant, a home health 
        aide, a personal care aide, a psychiatric assistant or aide, a 
        mobility assistant, or a child care provider, for 1 or more 
        individuals who are--
                    ``(i) retired or elderly;
                    ``(ii) receiving--
                            ``(I) disability insurance benefits under 
                        section 223 of the Social Security Act (42 
                        U.S.C. 423) or monthly insurance benefits under 
                        section 202 of such Act (42 U.S.C. 402) based 
                        on such individuals' disability; or
                            ``(II) supplemental security income 
                        benefits under title XVI of the Social Security 
                        Act (42 U.S.C. 1381 et seq.) on the basis of 
                        blindness or disability; or
                    ``(iii) too young to be eligible for a free public 
                education (as defined in section 8101 of the No Child 
                Left Behind Act of 2001 (20 U.S.C. 7801) in the State 
                or territory in which such individuals are residing.''.
            (2) Requirements applicable to the concern for advanced 
        retired and elderly nonimmigrant visa program.--Section 214 of 
        the Immigration and Nationality Act (8 U.S.C. 1184) is amended 
        by adding at the end the following:
    ``(s) Concern for Advanced Retired and Elderly (CARE) Nonimmigrant 
Visa Program.--
            ``(1) Defined term.--The term `CARE visa' means a visa 
        issued to an alien described in section 101(a)(15)(W) in 
        accordance with the requirements under this section.
            ``(2) Selection of applicants.--
                    ``(A) In general.--The Secretary of State, in 
                coordination with the Attorney General, the Secretary 
                of Homeland Security, the Secretary of Labor, and the 
                Secretary of Health and Human Services, shall work with 
                the Americas partner country (as defined in section 2 
                of the Americas Act) to identify, vet, train, and 
                certify applicants for CARE visas.
                    ``(B) Application process.--
                            ``(i) In general.--The Secretary of State, 
                        in coordination with the Americas partner 
                        country and private entities, shall establish a 
                        process by which an alien may apply to be 
                        considered for a CARE visa.
                            ``(ii) Certification required.--
                                    ``(I) In general.--The Secretary of 
                                State may not approve an application 
                                for a CARE visa unless the alien has 
                                first applied to the Secretary of Labor 
                                for, and obtained, a certification 
                                that--
                                            ``(aa) there are not 
                                        sufficient workers who are 
                                        able, willing, and qualified, 
                                        and who will be available at 
                                        the time and place needed, to 
                                        perform the labor or services 
                                        involved in the application; 
                                        and
                                            ``(bb) the employment of 
                                        the alien in such labor or 
                                        services will not adversely 
                                        affect the wages and working 
                                        conditions of workers in the 
                                        United States similarly 
                                        employed.
                                    ``(II) Fees.--The Secretary of 
                                Labor may require, by regulation, as a 
                                condition of issuing a certification 
                                under clause (i), the payment of a fee 
                                to recover the reasonable costs of 
                                processing applications for 
                                certification.
                    ``(C) Training.--With respect to each alien 
                selected to apply for a CARE visa, the Secretary of 
                State shall coordinate with the Secretary of Labor and 
                the applicable Americas partner country to provide 
                training on direct care of individuals described in 
                section 101(a)(15)(W)--
                            ``(i) in the primary language of the 
                        Americas partner country, as applicable;
                            ``(ii) with respect to the direct care of 
                        retired or elderly individuals, in accordance 
                        with the standards applicable to a nurse aide 
                        training and competency evaluation program 
                        under sections 483.152 and 483.154 of title 42, 
                        Code of Federal Regulations (or successor 
                        regulations); and
                            ``(iii) for the purpose of serving 
                        temporarily as a nursing assistant, home health 
                        aide, personal care aide, psychiatric 
                        assistant, mobility assistant, or child care 
                        provider in the United States.
                    ``(D) Competency evaluation and certification.--
                            ``(i) In general.--On completion of the 
                        training provided under subparagraph (B), an 
                        alien seeking a CARE visa for the purpose of 
                        providing direct care for an alien described in 
                        section 101(a)(15)(W)(i) shall be evaluated for 
                        competency in accordance with the standards 
                        applicable to a nurse aide training and 
                        competency evaluation program under sections 
                        483.152 and 483.154 of title 42, Code of 
                        Federal Regulations (or successor regulations).
                            ``(ii) Certification.--If the Secretary of 
                        State makes a determination that an individual 
                        described in clause (i) has attained competency 
                        in accordance with the standards referred to in 
                        such clause, the Secretary may certify such 
                        individual for a CARE visa.
                    ``(E) Numerical limitation.--Not more than 50,000 
                CARE visas may be issued annually under this 
                subsection.
            ``(3) Prohibitions.--The Secretary of State may not issue a 
        CARE visa to any individual who--
                    ``(A) has not been certified under paragraph 
                (2)(C)(ii) (unless such individual will only be 
                providing direct care to an individual described in 
                clause (ii) or (iii) of section 101(a)(15)(W)); or
                    ``(B) has not completed security and law 
                enforcement background checks to the satisfaction of 
                the Secretary of Homeland Security.
            ``(4) English language not required.--The issuance of a 
        CARE visa or the admission of an alien to the United States 
        pursuant to a CARE visa may not be conditioned on English-
        language competency.
            ``(5) Period of authorized admission.--The period of 
        authorized admission for a nonimmigrant described in section 
        101(a)(15)(W) who has been issued a CARE visa shall be not more 
        than 7 years and may not be renewed or extended for any 
        reason.''.
            (3) Protections for victims of trafficking.--Section 203 of 
        the William Wilberforce Trafficking Victims Protection 
        Reauthorization Act of 2008 (8 U.S.C. 1375c) is amended--
                    (A) in the section heading, by striking ``and g-5'' 
                and inserting ``, g-5, and care'';
                    (B) in subsection (a)--
                            (i) in the subsection heading, by striking 
                        ``and G-5'' and inserting ``, G-5, and CARE''; 
                        and
                            (ii) in paragraph (1)--
                                    (I) in subparagraph (A)--
                                            (aa) by striking 
                                        ``subsection (d)(2)'' and 
                                        inserting ``subsection 
                                        (b)(2)''; and
                                            (bb) by striking ``; or'' 
                                        and inserting a semicolon;
                                    (II) in subparagraph (B), by 
                                striking the period at the end and 
                                inserting ``; and''; and
                                    (III) by adding at the end the 
                                following:
                    ``(C) a CARE visa unless the applicant is employed, 
                or has signed a contract to be employed to provide 
                direct care, as a nursing assistant, a home health 
                aide, a personal care aide, a psychiatric assistant or 
                aide, a mobility assistant, or a child care for 
                individual described in section 101(a)(15)(W) of the 
                Immigration and Nationality Act (8 U.S.C. 
                1101(a)(15)(W)).'';
                    (C) in subsection (b)--
                            (i) in the subsection heading--
                                    (I) by striking ``and G-5'' and 
                                inserting ``, G-5, and CARE''; and
                                    (II) by striking ``Employed by 
                                Diplomats and Staff of International 
                                Organizations'';
                            (ii) in paragraph (1), in the matter 
                        preceding subparagraph (A), by striking ``or a 
                        G-5 visa'' and inserting ``, a G-5 visa, or a 
                        CARE visa''; and
                            (iii) in paragraph (4)(A), by striking ``or 
                        a G-5 visa'' and inserting ``, a G-5 visa, or a 
                        CARE visa'';
                    (D) in subsection (c)(1)--
                            (i) in subparagraph (A), by striking ``or a 
                        G-5 visa'' and inserting ``, a G-5 visa, or a 
                        CARE visa''; and
                            (ii) in subparagraph (C)--
                                    (I) by striking ``or a G-5 visa'' 
                                and inserting ``, a G-5 visa, or a CARE 
                                visa''; and
                                    (II) by striking ``or G-5 
                                nonimmigrant'' and inserting ``, G-5, 
                                or CARE nonimmigrant'';
                    (E) in subsection (e), by striking ``or a G-5 
                visa'' and inserting ``, a G-5 visa, or a CARE visa''; 
                and
                    (F) in subsection (f), by adding at the end the 
                following:
            ``(5) CARE visa.--The term `CARE visa' means a nonimmigrant 
        visa issued pursuant to subparagraph (W) of section 101(a)(15) 
        of the Immigration and Nationality Act (8 U.S.C. 
        1101(a)(15)).''.
    (d) Authorization To Hire Additional Embassy Personnel.--The 
Secretary of State may increase the number of foreign service officers 
stationed at United States embassies in order to ensure the efficient 
adjudication of visa applications associated with the Concern for 
Advanced Retired and Elderly nonimmigrant visa program.

SEC. 267. SENSE OF CONGRESS ON TN VISA PROGRAM.

    It is the sense of Congress that the President should incorporate 
into the periodic review of the USMCA for 2026 a discussion of the 
establishment of a TN visa category for low-skill workers.

SEC. 268. ASSESSMENT OF VISA WAIVER PROGRAM ELIGIBILITY FOR URUGUAY AND 
              COSTA RICA.

    Not later than 90 days after the date of the enactment of this Act, 
the Secretary of Homeland Security, in consultation with the Secretary 
of State, shall submit to Congress a report that includes--
            (1) an assessment as to whether Uruguay meets the 
        eligibility criteria for designation as a program country for 
        purposes of the visa waiver program under section 217 of the 
        Immigration and Nationality Act (8 U.S.C. 1187);
            (2) an assessment as to whether Costa Rica meets such 
        eligibility criteria; and
            (3) in the case of an assessment that Uruguay or Costa Rica 
        does not meet such eligibility criteria, a description of the 
        actions required of such country in order to meet such 
        criteria.

SEC. 269. RADIO FREE AMERICAS.

    (a) Authority.--The Secretary of State, the Administrator of the 
United States Agency for International Development, the Secretary of 
Commerce, or the head of any other relevant Federal department may 
award annual grants to a country in Latin America or the Caribbean for 
the purpose of carrying out a broadcasting service, which--
            (1) shall be known as ``Radio Free Americas'';
            (2) shall consist of radio, television, social media, and 
        other public communications efforts; and
            (3) may not result in any curtailment of the ongoing work 
        of Radio Marti.
    (b) Functions.--Radio Free Americas shall--
            (1) provide accurate and timely information, news, and 
        commentary about events in the Americas and in other places 
        around the world; and
            (2) be a forum for a variety of opinions and voices from 
        within nations in the Western Hemisphere whose people do not 
        fully enjoy freedom of expression.
    (c) Grant Agreement.--
            (1) In general.--Any grant awarded under this section shall 
        be subject to the limitations and restrictions set forth in 
        paragraphs (2) through (5).
            (2) Location of headquarters.--No grant may be awarded 
        under this section unless the headquarters of Radio Free 
        Americas and its senior administrative and managerial staff are 
        in a location that ensures economy, operational effectiveness, 
        and accountability to the United States Government.
            (3) Obligations.--Any agreement governing a grant awarded 
        under this section shall require that any contract entered into 
        by the grantee on behalf of Radio Free Americas specifies that 
        all obligations related to the functions described in 
        subsection (b) be assumed by Radio Free Americas and not by the 
        United States Government.
            (4) Lease agreements.--Any such grant agreement shall 
        require that any lease agreements entered into by the grantee 
        on behalf of Radio Free Americas be assignable to the United 
        States Government, to the maximum extent possible.
            (5) Limitation on activities; terminations.--Grants awarded 
        under this section shall be made pursuant to a grant 
        agreement--
                    (A) requiring that grant funds be used only for 
                activities in accordance with this section; and
                    (B) specifying that failure to comply with the 
                requirements under this section authorizes the 
                termination of the agreement without fiscal obligation 
                to the United States.
    (d) Sense of Congress Regarding Administrative and Managerial 
Costs.--It is the sense of Congress that administrative and managerial 
costs for the operation of Radio Free Americas--
            (1) should be kept to a minimum; and
            (2) should not exceed the costs that would have been 
        incurred if Radio Free Americas had been operated as a Federal 
        entity rather than through a grantee.
    (e) Assessment of the Effectiveness of Radio Free Americas.--Not 
later than 3 years after the date on which initial funding is provided 
for the purpose of operating Radio Free Americas, the Secretary of 
State shall submit a report to the appropriate congressional committees 
regarding--
            (1) whether Radio Free Americas--
                    (A) is technically sound and cost-effective;
                    (B) consistently meets the standards for quality 
                and objectivity established under this section; and
                    (C) is received by a sufficient audience to warrant 
                its continued operations;
            (2) the extent to which the information, news, and 
        commentary provided by Radio Free Americas is also being 
        received by the target audience from other credible sources; 
        and
            (3) the extent to which the interests of the United States 
        are being served by maintaining the operations of Radio Free 
        Americas.
    (f) Notification and Consultation Regarding Displacement of Voice 
of America Broadcasting.--The Chief Executive Officer of the United 
States Agency for Global Media shall notify the appropriate 
congressional committees before--
            (1) entering into any agreement for the utilization of 
        Voice of America transmitters, equipment, or other resources 
        that will significantly reduce the broadcasting activities of 
        the Voice of America in the Americas or in any other region in 
        order to accommodate the broadcasting activities of Radio Free 
        Americas; or
            (2) entering into any agreements in regard to the 
        utilization of Radio Free Americas transmitters, equipment, or 
        other resources that will significantly reduce the broadcasting 
        activities of Radio Free Americas.
    (g) Alternative Grantee.--If the Chief Executive Officer of the 
United States Agency for Global Media determines that Radio Free 
Americas is not carrying out the functions described in subsection (b) 
in an effective and economical manner, the Chief Executive Officer may 
award the grant to carry out such functions to another entity.
    (h) Federal Status.--Nothing in this section may be construed to 
make Radio Free Americas a Federal agency or instrumentality.
    (i) Funding.--The Secretary of State may expend such sums as may be 
necessary from the Re-shoring and Near-shoring Account established 
under section 301 to carry out this section.

SEC. 270. BIENNIAL PRESIDENTIAL SUMMIT.

    Not less frequently than biennially, the President, in consultation 
with the Secretary of State, shall host a summit for Americas partner 
countries during which such countries shall highlight and showcase 
successful investments, endeavors, and programs associated with 
activities authorized under this Act.

              TITLE III--REVENUE AND FINANCIAL MANAGEMENT

SEC. 301. RE-SHORING AND NEAR-SHORING ACCOUNT.

    (a) In General.--There is established within the Treasury of the 
United States an account to be known as the ``Re-shoring and Near-
shoring Account'' (in this section referred to as the ``Account''), 
consisting of such amounts as are--
            (1) appropriated pursuant to the authorization of 
        appropriations under subsection (c);
            (2) deposited into or transferred to the Account as 
        specified in title II or subsection (c) of section 321 of 
        Tariff Act of 1930, as added by section 302; and
            (3) credited to the Account under subsection (d).
    (b) Use of Amounts.--Amounts in the Account shall be available, 
without further appropriation, to carry out titles I and II.
    (c) Authorization of Appropriations.--
            (1) In general.--There are authorized to be appropriated 
        $500,000,000 for fiscal year 2024 for initial capitalization of 
        the Account.
            (2) Reimbursement of treasury.--Not later than 2 years 
        after the date of the enactment of this Act, the Account shall 
        reimburse the treasury for the amount appropriated pursuant to 
        the authorization of appropriations under paragraph (1).
    (d) Investment of Amounts.--
            (1) In general.--Except as provided in paragraph (2), the 
        Secretary of the Treasury shall invest such portion of the 
        Account as is not required to meet current withdrawals in 
        interest-bearing obligations of the United States or in 
        obligations guaranteed as to both principal and interest by the 
        United States.
            (2) Authorization of investment in other instruments.--
                    (A) In general.--The Secretary of the Treasury may 
                invest such portion of the Account as the Secretary 
                anticipates will be held in the Account for not less 
                than 2 years in equity securities or other securities 
                through a commercial bank if the Secretary determines 
                such investments are appropriate.
                    (B) Definitions.--In this paragraph, the terms 
                ``equity security'' and ``security'' have the meanings 
                given those terms in section 3(a) of the Securities 
                Exchange Act of 1934 (15 U.S.C. 78c(a)).
            (3) Interest and proceeds.--The interest on, and the 
        proceeds from the sale or redemption of, any obligations held 
        in the Account shall be credited to and form a part of the 
        Account.

SEC. 302. MODIFICATION OF TREATMENT OF DE MINIMIS ENTRIES OF ARTICLES.

    Section 321 of Tariff Act of 1930 (19 U.S.C. 1321) is amended--
            (1) by amending subsection (a)(2)(C) to read as follows:
                    ``(C) in any other case, such amount as the 
                Secretary establishes under subsection (c)(1).''; and
            (2) by adding at the end the following:
    ``(c) Treatment of De Minimis Entries.--
            ``(1) Reciprocity with respect to de minimis entries.--
                    ``(A) Establishment of thresholds.--
                            ``(i) In general.--Not later than 180 days 
                        after the date of the enactment of the Americas 
                        Act, the Secretary of the Treasury shall 
                        prescribe regulations to establish dollar 
                        amount thresholds, which may not exceed $800, 
                        for de minimis entries for purposes of 
                        subsection (a)(2)(C).
                            ``(ii) Requirements.--The Secretary shall 
                        establish a threshold under clause (i) for each 
                        country that is equal to the sum of--
                                    ``(I) the dollar amount threshold 
                                of that country for de minimis entries 
                                from the United States; and
                                    ``(II) any related thresholds of 
                                that country, such as a threshold 
                                relating to a value-added tax on 
                                imports.
                            ``(iii) Publication; notification.--Not 
                        later than 180 days after the date of the 
                        enactment of the Americas Act, and annually 
                        thereafter, the Secretary shall--
                                    ``(I) publish the threshold 
                                established under clause (i) in the 
                                Federal Register; and
                                    ``(II) notify the governments of 
                                foreign countries of the threshold.
                    ``(B) Transfer of amounts attributable to de 
                minimis entries to re-shoring and near-shoring 
                account.--
                            ``(i) In general.--The Secretary of the 
                        Treasury shall transfer to the Re-shoring and 
                        Near-shoring Account established under section 
                        301 of the Americas Act from the general fund 
                        of the Treasury, for fiscal year 2024 and each 
                        fiscal year thereafter, an amount equivalent to 
                        the amount received into the general fund 
                        during that fiscal year that the Secretary 
                        determines is attributable to revenue received 
                        as a result of the dollar amount thresholds 
                        established under subparagraph (A).
                            ``(ii) Frequency of transfers.--The 
                        Secretary shall transfer amounts required by 
                        clause (i) to be transferred to the Re-shoring 
                        and Near-shoring Account not less frequently 
                        than quarterly.
            ``(2) Prohibition on de minimis entries from certain 
        countries.--
                    ``(A) In general.--Not later than one year after 
                the date of the enactment of the Americas Act, and 
                annually thereafter, the Secretary of the Treasury 
                shall publish a list of countries the articles of which 
                are not eligible for entry under subsection (a)(2)(C).
                    ``(B) Criteria for inclusion.--
                            ``(i) In general.--Not later than 180 days 
                        after the date of the enactment of the Americas 
                        Act, the Secretary shall establish, and submit 
                        to Congress a report on, the conditions for 
                        including a country on the list required by 
                        subparagraph (A).
                            ``(ii) Considerations.--In establishing 
                        under clause (i) conditions for including a 
                        country on the list required by subparagraph 
                        (A), the Secretary shall consider the 
                        following:
                                    ``(I) Violations by the country of 
                                the Act entitled `An Act to ensure that 
                                goods made with forced labor in the 
                                Xinjiang Autonomous Region of the 
                                People's Republic of China do not enter 
                                the United States market, and for other 
                                purposes', approved December 23, 2021 
                                (Public Law 117-78; 135 Stat. 1525) 
                                (commonly referred to as the `Uyghur 
                                Forced Labor Prevention Act').
                                    ``(II) Transshipment through the 
                                country of goods from countries on the 
                                list.
                                    ``(III) The exportation from the 
                                country of counterfeit goods.
                                    ``(IV) Whether the government of 
                                the country is committed to the fight 
                                against trafficking in persons, illegal 
                                narcotics, and terrorism, as 
                                demonstrated by--
                                            ``(aa) the government of 
                                        the country not being listed 
                                        under subparagraph (C) of 
                                        section 110(b)(1) of the 
                                        Trafficking Victims Protection 
                                        Act of 2000 (22 U.S.C. 
                                        7107(b)(1)) (commonly referred 
                                        to as `tier 3') in the most 
                                        recent report on trafficking in 
                                        persons required under such 
                                        section (commonly referred to 
                                        as the `Trafficking in Persons 
                                        Report'); and
                                            ``(bb) certification by the 
                                        Department of State that the 
                                        government is participating in 
                                        the fight against illegal 
                                        narcotics and terrorism.
                                    ``(V) Harm to industry in the 
                                United States.
                                    ``(VI) Public safety risks posed by 
                                imports from the country to United 
                                States consumers.
                                    ``(VII) The flow of narcotics from 
                                the country into the United States.
                                    ``(VIII) Such other issues as the 
                                Secretary considers appropriate.
                    ``(C) Countries required to be included.--
                            ``(i) In general.--The following countries 
                        shall be included on the list required by 
                        subparagraph (A), effective on the date of the 
                        enactment of the Americas Act:
                                    ``(I) The People's Republic of 
                                China.
                                    ``(II) The Russian Federation.
                            ``(ii) Removal from list.--A country 
                        specified in clause (i) may not be removed from 
                        the list required by subparagraph (A) until the 
                        Secretary certifies to Congress that the 
                        government of the country has made progress 
                        with respect to the considerations described in 
                        subparagraph (B)(ii).
                    ``(D) Removal.--
                            ``(i) In general.--The government of a 
                        country on the list required by subparagraph 
                        (A) may petition the Secretary for removal from 
                        the list.
                            ``(ii) Response time.--The Secretary 
                        shall--
                                    ``(I) respond to a petition 
                                submitted under clause (i) not later 
                                than 90 days after receiving the 
                                petition; and
                                    ``(II) include in that response a 
                                description of any measures the 
                                government that submitted the petition 
                                is required to undertake to be removed 
                                from the list.
                    ``(E) Consultations with congress.--The Secretary 
                shall consult with Congress before adding a country to 
                or removing a country from the list required by 
                subparagraph (A).
            ``(3) Limitations on eligibility of carriers for 
        importation of de minimis entries.--
                    ``(A) In general.--An article is eligible for entry 
                under subsection (a)(2)(C) only if the article is 
                transported to the United States by a contract carrier 
                or customs broker.
                    ``(B) Data requirements.--A contract carrier or 
                customs broker seeking to enter an article under 
                subsection (a)(2)(C) shall provide the following data 
                with respect to the article:
                            ``(i) The heading or subheading of the 
                        Harmonized Tariff Schedule of the United States 
                        under which the article is classifiable.
                            ``(ii) The country of origin of the 
                        article.
                            ``(iii) The country of manufacture of the 
                        article (if different from the country of 
                        origin under clause (ii)).
                            ``(iv) The shipper of record.
                            ``(v) The importer of record.
                            ``(vi) A description of the article.
                            ``(vii) The fair market value in the United 
                        States of the article.
                    ``(C) Collection of duties and taxes.--A contract 
                carrier or customs broker transporting articles 
                entering under subsection (a)(2)(C) shall be 
                responsible for collecting the duties and taxes owed 
                with respect to such articles and remitting those 
                duties and taxes to U.S. Customs and Border Protection.
                    ``(D) Definitions.--In this paragraph:
                            ``(i) Contract carrier.--The term `contract 
                        carrier' means a private entity that--
                                    ``(I) is organized under the laws 
                                of the United States or any 
                                jurisdiction within the United States; 
                                and
                                    ``(II) ships small packages into 
                                the United States by air or land.
                            ``(ii) Customs broker.--The term `customs 
                        broker' means a person holding a valid customs 
                        broker's license issued under section 641(b) of 
                        the Tariff Act of 1930 (19 U.S.C. 1641(b)).
            ``(4) De minimis entry defined.--In this subsection, the 
        term `de minimis entry' means the entry of articles imported by 
        one person on one day with a fair retail value that does not 
        exceed--
                    ``(A) in the case of articles entering the United 
                States, the applicable threshold established under 
                paragraph (1)(A); and
                    ``(B) in the case of articles entering any other 
                country, an amount determined by the government of that 
                country to be de minimis.''.

                    TITLE IV--REPORTING AND BRANDING

SEC. 401. ANNUAL REPORT ON AMERICAS PROGRAM.

    (a) In General.--Not later than December 31 of each year that 
begins after the date of the enactment of this Act, the Secretary of 
Commerce, in consultation with the officials specified in subsection 
(b), shall submit to the Committee on Finance of the Senate and the 
Committee on Ways and Means of the House of Representatives a report on 
activities carried out under the Americas program during the preceding 
fiscal year.
    (b) Officials Specified.--The officials specified in this 
subsection are the following:
            (1) The Administrator of the United States Agency for 
        International Development.
            (2) The United States Trade Representative.
            (3) The Secretary of State.
            (4) The Secretary of Homeland Security.
            (5) Such other officials as the Secretary of Commerce 
        considers appropriate.
    (c) Assessment of Activities Conducted in Preceding Year.--Each 
report required by subsection (a) shall include the following for the 
fiscal year covered by the report:
            (1) A statement of the number of Americas partner 
        countries.
            (2) An assessment of the effectiveness of loans and other 
        incentives provided under section 212 with respect to re-
        shoring and near-shoring that includes an estimate of--
                    (A) the number of entities re-shored or near-
                shored; and
                    (B) the number of jobs created in the United States 
                and Americas partner countries as a result of such re-
                shoring and near-shoring.
            (3) An assessment of the status of negotiations for the 
        expansion of the USMCA under section 222 that includes--
                    (A) an identification of the countries 
                participating in those negotiations;
                    (B) an estimate of the amount of trade between 
                those countries and the United States; and
                    (C) an identification of any significant challenges 
                relating to those negotiations.
            (4) An assessment of the status of negotiations for the 
        expansion of countries that are CBTPA beneficiary countries (as 
        defined in section 213(b)(5) of the Caribbean Basin Economic 
        Recovery Act (19 U.S.C. 2703(b)), as amended by section 224) 
        that includes--
                    (A) an identification of the countries 
                participating in those negotiations;
                    (B) an estimate of the amount of trade between 
                those countries and the United States; and
                    (C) an identification of any significant challenges 
                relating to those negotiations.
            (5) An assessment of the activities of the BUILD Americas 
        Unit that includes--
                    (A) a description of the financial instruments used 
                under section 252 and the amounts issued under such 
                instruments;
                    (B) an assessment of the repayment rates;
                    (C) a copy of each grant, loan, guaranty, or 
                insurance agreement;
                    (D) a list of projects carried out using such 
                grants, loans, guaranties, or insurance; and
                    (E) a statement of the amount expended by the 
                Corporation and the amount provided to the Re-shoring 
                and Near-shoring Account established under section 301.
            (6) An assessment of the activities of the Americas 
        Partnership Enterprise Fund established under section 253 that 
        includes--
                    (A) an identification of the country in which the 
                Fund is registered;
                    (B) a copy of the registration documents for the 
                Fund;
                    (C) a description of the grants, loans, and 
                technical assistance provided by the Fund; and
                    (D) an assessment of the repayment rate of loans 
                provided by the Fund.
            (7) An assessment of activities carried out under section 
        254 relating to near-shoring of strategic supply chains.
            (8) An assessment of activities carried out by the Office 
        of Energy of the Export-Import Bank of the United States 
        established under section 2(b)(1)(C) of the Export-Import Bank 
        Act of 1945, as amended by section 255(b).
            (9) An assessment of activities carried out by the United 
        States International Development Finance Corporation under 
        title II, including activities of the Chief Energy Officer of 
        the United States International Development Finance Corporation 
        established under subsection (j) of section 1413 of the BUILD 
        Act, as added by section 255(a).
            (10) An assessment of humanitarian and business development 
        assistance provided under section 261 that includes--
                    (A) a list of the recipients of such assistance; 
                and
                    (B) a description of the assistance provided.
            (11) A description of the cultural affairs programming 
        provided under section 262.
            (12) An assessment of efforts conducted under section 263 
        to increase the number of Peace Corps volunteers in Americas 
        partner countries that includes an identification of the number 
        of such volunteers and the countries to which such volunteers 
        are assigned.
            (13) An assessment of activities carried out under section 
        264 relating to the American University of the Americas that 
        includes--
                    (A) a list of campus locations;
                    (B) the number of students attending each such 
                campus; and
                    (C) a list of degrees offered by the university.
            (14) An assessment of the programming provided by the 
        United States Agency for Global Media under section 269 that 
        includes--
                    (A) a list of programs provided; and
                    (B) an assessment of the number and locations of 
                listeners to such programs.
            (15) If a summit was conducted under section 270 in the 
        year preceding the submission of the report--
                    (A) an assessment of the success of the summit;
                    (B) the location of the summit; and
                    (C) an identification of the attendees of the 
                summit.
    (d) Financial Projections for Upcoming Year.--Each report required 
by subsection (a) shall include a projection of the amount of funds 
required for the fiscal year that begins after submission of the 
report, disaggregated by agency and purpose.

SEC. 402. BRANDING AND MARKETING FOR AMERICAS PROGRAM.

    Branding and marketing for the Americas program shall be conducted 
in a manner consistent with the Visibly American branding policies of 
the Department of State.
                                 <all>
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