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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5394 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5394

  To provide for the establishment of an American Enterprise Fund for 
  Haiti and to ensure effective oversight of United States Government 
       earthquake recovery and redevelopment activities in Haiti.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 25, 2010

Mr. Meeks of New York (for himself, Ms. Clarke, Mr. Clay, Ms. Moore of 
Wisconsin, Mr. Gutierrez, Mr. Rush, Mr. Butterfield, Ms. Fudge, and Mr. 
    Watt) introduced the following bill; which was referred to the 
                      Committee on Foreign Affairs

_______________________________________________________________________

                                 A BILL

 
  To provide for the establishment of an American Enterprise Fund for 
  Haiti and to ensure effective oversight of United States Government 
       earthquake recovery and redevelopment activities in Haiti.

    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 ``Haiti Private 
Sector Development Act''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
              TITLE I--AMERICAN ENTERPRISE FUND FOR HAITI

Sec. 101. Designation of fund.
Sec. 102. Transfer of United States funds to Enterprise Fund; use of 
                            funds.
Sec. 103. Administration of funds.
Sec. 104. Audits, records, and reports.
Sec. 105. Nonapplicability of other laws.
Sec. 106. Authorization of appropriations.
          TITLE II--HAITI ASSISTANCE OVERSIGHT SUMMARY REPORTS

Sec. 201. Annual summary reports.
Sec. 202. Submission and availability of reports.
Sec. 203. Treatment of sensitive material.
Sec. 204. Definition.

              TITLE I--AMERICAN ENTERPRISE FUND FOR HAITI

SEC. 101. DESIGNATION OF FUND.

    (a) In General.--The President is authorized to designate as 
eligible to receive funds and support under this title not more than 1 
private, nonprofit organization that the President determines has been 
established to carry out the activities described in section 102. Such 
organization shall be known as the American Enterprise Fund for Haiti 
(in this title referred to as the ``Enterprise Fund'').
    (b) Consultation With Congress.--Before designating an organization 
under subsection (a), the President shall consult with--
            (1) the majority leader and the minority leader of the 
        Senate; and
            (2) the Speaker and the minority leader of the House of 
        Representatives.
    (c) Board of Directors.--
            (1) In general.--The Enterprise Fund shall be governed by a 
        board of directors composed of private citizens of the United 
        States and private citizens of Haiti who--
                    (A) have had successful business careers in private 
                equity, banking, or finance in developing economies; or
                    (B) have experience similar to that of individuals 
                who served on the board of directors of a fund similar 
                to the Enterprise Fund that--
                            (i) was established by the United States 
                        Government on or after January 1, 1990; and
                            (ii) earned a positive return on the funds 
                        under its control.
            (2) Majority of united states citizens.--A majority of the 
        board of directors of the Enterprise Fund shall be United 
        States citizens.
            (3) Respect for democracy and free market.--Only Haitian 
        citizens who demonstrate respect for democracy and a free-
        market economy may serve as members of the board of directors 
        of the Enterprise Fund.
    (d) Private Character of Enterprise Fund.--Nothing in this title 
shall be construed to make the Enterprise Fund an agency or 
establishment of the United States Government, or to make the officers, 
employees, or members of the board of directors of the Enterprise Fund 
officers or employees of the United States for purposes of title 5, 
United States Code.
    (e) Eligibility of Enterprise Fund To Receive United States 
Funds.--A transfer of funds may be made to the Enterprise Fund under 
section 102(a) only if the Enterprise Fund agrees to comply with the 
requirements of this title.

SEC. 102. TRANSFER OF UNITED STATES FUNDS TO ENTERPRISE FUND; USE OF 
              FUNDS.

    (a) Transfers to Enterprise Fund.--From amounts made available 
under section 106, the Secretary of the Treasury may transfer not more 
than $100,000,000 to the Enterprise Fund for the Enterprise Fund to 
carry out the activities described in this section and for the 
administrative expenses of the Enterprise Fund.
    (b) Authorized Activities.--
            (1) In general.--The Enterprise Fund may provide assistance 
        only for programs and projects that will promote--
                    (A) development of the Haitian private sector, 
                including microbusinesses and small businesses, the 
                agriculture, finance, energy, construction, garment, 
                and tourism industries, and joint ventures with United 
                States and Haitian participants; and
                    (B) policies and practices conducive to private 
                sector development in Haiti, through loans, equity 
                investments, feasibility studies, grants, technical 
                assistance, training, insurance, guarantees, and other 
                measures.
            (2) Percentage of funds that may be used for grants.--Not 
        more than 20 percent of the funds transferred to the Enterprise 
        Fund under subsection (a) may be used for assistance in the 
        form of grants. Assistance provided under paragraph (3)(D)(i) 
        shall not be counted for purposes of the preceding sentence.
            (3) Specific activities.--
                    (A) Indigenous credit bureaus.--The Enterprise Fund 
                may make investments in and grants for and otherwise 
                encourage the establishment of consumer credit bureaus 
                in Haiti.
                    (B) Information technology infrastructure.--The 
                Enterprise Fund may make investments in and grants for 
                projects providing the modern information technology 
                infrastructure needed for the delivery and monitoring 
                of services to economically vulnerable populations in 
                Haiti.
                    (C) Management and technical capacity building.--
                The Enterprise Fund may make investments in and grants 
                for projects providing management and technical 
                capacity training and development, which may include 
                training on effective management and governance for 
                promoting private sector development.
                    (D) America for haitian private sector development 
                foundation.--
                            (i) Establishment.--The Enterprise Fund may 
                        use not more than $5,000,000 of the funds 
                        transferred to it under subsection (a) to 
                        establish and provide support for the America 
                        for Haitian Private Sector Development 
                        Foundation (in this title referred to as the 
                        ``Foundation'').
                            (ii) Activities of foundation.--
                                    (I) Recruitment.--The Foundation 
                                shall develop programs to recruit 
                                qualified individuals from the United 
                                States, including the Haitian diaspora 
                                in the United States, to go to Haiti to 
                                provide technical expertise to the 
                                Haitian government to support public 
                                functions and to fill capacity gaps in 
                                the Haitian government, especially at 
                                Haitian government ministries that 
                                oversee the private sector and were 
                                disrupted by the earthquake that 
                                occurred on January 12, 2010. Such 
                                individuals may serve for short or 
                                extended periods of time, not to exceed 
                                2 years, as necessary to meet the needs 
                                of the Haitian government. The 
                                Foundation shall pay such individuals 
                                such reasonable compensation for their 
                                services as the Foundation considers 
                                necessary to attract a sufficient 
                                number of qualified individuals.
                                    (II) Activities after winding down 
                                of enterprise fund.--The Enterprise 
                                Fund shall ensure that the Foundation 
                                is in a position to continue supporting 
                                the development and good governance of 
                                the Haitian private sector after the 
                                Enterprise Fund is wound down and no 
                                longer receives funding from the United 
                                States Government.
    (c) Financial Instruments for Individual Investment in Haiti.--The 
Enterprise Fund shall, if at all practicable, establish financial 
instruments that will enable individuals to invest in the Haitian 
private sector.
    (d) Priority in Making Investments and Grants.--In making 
investments and grants under this section, the Enterprise Fund shall 
give priority to industries targeted by the Haitian government for 
economic recovery and growth.
    (e) Matters for Consideration in Carrying Out Authorized 
Activities.--In carrying out activities under this title, the 
Enterprise Fund shall take into account such considerations as 
internationally recognized worker rights and other internationally 
recognized human rights, environmental factors, United States economic 
and employment effects, and the likelihood of commercial viability of 
the activity receiving assistance from the Enterprise Fund.

SEC. 103. ADMINISTRATION OF FUNDS.

    (a) Retention of Investment Earnings.--
            (1) Retention of interest.--The Enterprise Fund may hold 
        funds transferred to it under section 102(a) in interest-
        bearing accounts, prior to the disbursement of such funds for 
        the activities described in section 102, and may retain for 
        such purposes any interest earned on such deposits without 
        returning such interest to the Treasury and without further 
        appropriation by Congress.
            (2) Use of investment returns and other payments.--The 
        Enterprise Fund may use returns on investments of the 
        Enterprise Fund and other payments to the Enterprise Fund to 
        make investments in and grants for projects carried out under 
        section 102, without returning such returns or other payments 
        to the Treasury and without further appropriation by Congress.
    (b) Use of United States Private Venture Capital.--
            (1) In general.--In order to maximize the effectiveness of 
        the activities of the Enterprise Fund, the Enterprise Fund may 
        conduct public offerings or private placements for the purpose 
        of soliciting and accepting United States venture capital, 
        which may be used, separately or together with funds 
        transferred to the Enterprise Fund under section 102(a), for 
        any lawful investment purpose that the board of directors of 
        the Enterprise Fund considers appropriate to carry out this 
        title.
            (2) Distributions.--Financial returns on Enterprise Fund 
        investments that include a component of private venture capital 
        may be distributed, at such times and in such amounts as the 
        board of directors of the Enterprise Fund considers 
        appropriate, to the investors of such capital.
    (c) Limitation on Payments to Enterprise Fund Personnel.--No funds 
of the Enterprise Fund shall inure to the benefit of any board member, 
officer, or employee of the Enterprise Fund, except as salary or 
reasonable compensation for services.
    (d) Winding Down of Enterprise Fund; Repayment of Funds to 
Treasury.--
            (1) In general.--At such time as the board of directors of 
        the Enterprise Fund considers appropriate, but not later than 
        December 31, 2025, the Enterprise Fund shall--
                    (A) wind down its activities; and
                    (B) repay to the Treasury the full amount of funds 
                the Enterprise Fund received from the United States 
                Government throughout the existence of the Enterprise 
                Fund.
            (2) Ensuring ability to repay.--The Enterprise Fund shall 
        make grants, investments, and provide other assistance under 
        section 102 in a manner that ensures the ability of the 
        Enterprise Fund to make the repayments to the Treasury required 
        by paragraph (1)(B).

SEC. 104. AUDITS, RECORDS, AND REPORTS.

    (a) Independent Private Audits.--The accounts of the Enterprise 
Fund shall be audited annually in accordance with generally accepted 
auditing standards by independent certified public accountants or 
independent licensed public accountants certified or licensed by a 
regulatory authority of a State or other political subdivision of the 
United States. The report of an audit under this subsection shall be 
included in the annual report under subsection (d) for the year 
involved.
    (b) GAO Audits.--With respect to any period during which the 
Enterprise Fund is in possession of funds received from the United 
States Government, the Comptroller General of the United States may 
audit the financial transactions of the Enterprise Fund in accordance 
with such principles and procedures and under such rules and 
regulations as the Comptroller General may prescribe.
    (c) Recordkeeping Requirements.--The Enterprise Fund shall ensure 
that--
            (1) each recipient of assistance provided by the Enterprise 
        Fund under section 102 keeps--
                    (A) separate accounts with respect to such 
                assistance;
                    (B) such records as may be reasonably necessary to 
                disclose fully the amount and the disposition by such 
                recipient of the proceeds of such assistance, the total 
                cost of the project or undertaking in connection with 
                which such assistance is given or used, and the amount 
                and nature of that portion of the cost of the project 
                or undertaking supplied by other sources; and
                    (C) such other records as will facilitate an 
                effective audit; and
            (2) the Enterprise Fund, or an authorized representative of 
        the Enterprise Fund, has access for the purpose of audit and 
        examination to any books, documents, papers, or records of the 
        recipient that are pertinent to assistance provided by the 
        Enterprise Fund under section 102.
    (d) Annual Reports.--With respect to each year during any part of 
which the full repayment to the Treasury required by section 
103(d)(1)(B) has not yet been completed, the Enterprise Fund shall, not 
later than 120 days after the conclusion of such year, publish a report 
that includes a comprehensive and detailed description of the 
Enterprise Fund's operations, activities, financial condition, and 
accomplishments under this title for such year.

SEC. 105. NONAPPLICABILITY OF OTHER LAWS.

    Notwithstanding any other provision of law--
            (1) funds may be transferred to the Enterprise Fund under 
        section 102(a) and used for the activities described in section 
        102; and
            (2) executive branch agencies may conduct programs and 
        activities and provide services in support of the activities of 
        the Enterprise Fund.

SEC. 106. AUTHORIZATION OF APPROPRIATIONS.

    There is authorized to be appropriated to the Secretary of the 
Treasury $100,000,000 to carry out section 102(a), to remain available 
until expended or until the Enterprise Fund winds down its activities, 
whichever occurs earlier.

          TITLE II--HAITI ASSISTANCE OVERSIGHT SUMMARY REPORTS

SEC. 201. ANNUAL SUMMARY REPORTS.

    (a) In General.--Not later than January 31 of each of the years 
2011 through 2016, the President shall submit to Congress a report that 
summarizes and analyzes all reports available to the President that 
were prepared for the purpose of providing oversight and evaluation of 
earthquake recovery and redevelopment activities conducted by United 
States Government agencies during the preceding year.
    (b) Contents of Report.--Each report submitted under subsection (a) 
shall include--
            (1) with respect to each United States Government agency 
        that conducted earthquake recovery and redevelopment activities 
        during the year covered by the report, a statement of the 
        obligations, outlays, and receipts of such agency related to 
        such activities during such year; and
            (2) with respect to United States Government earthquake 
        recovery and redevelopment programs--
                    (A) an impact assessment of each such program and 
                of all such programs;
                    (B) an analysis of program conflicts;
                    (C) an assessment of areas for future improvement 
                in individual programs, groups of programs, or all such 
                programs; and
                    (D) the proposed expenditures of each such program 
                for each of the 5 fiscal years following the fiscal 
                year in which the report is submitted.
    (c) Coordination and Cooperation.--
            (1) In general.--In preparing a report under subsection 
        (a), the President shall coordinate with the officials listed 
        in paragraph (2), and such officials shall cooperate with the 
        President in fulfilling the requirements of such subsection.
            (2) Officials listed.--The officials listed in this 
        paragraph are the following:
                    (A) The Inspector General of the Department of 
                Defense.
                    (B) The Inspector General of the Department of 
                State.
                    (C) The Inspector General of the Department of the 
                Treasury.
                    (D) The Inspector General of the United States 
                Agency for International Development.
                    (E) Any other officer or employee of the United 
                States Government primarily responsible for oversight 
                of an earthquake recovery or redevelopment program of 
                the United States Government.
            (3) Coordination with gao.--The President shall coordinate 
        with the Comptroller General of the United States in any 
        oversight of earthquake recovery and redevelopment undertaken 
        by the Comptroller General, as the President and the 
        Comptroller General consider appropriate.

SEC. 202. SUBMISSION AND AVAILABILITY OF REPORTS.

    (a) Submission to Executive Branch Agencies.--When the President 
submits a report to Congress under section 201(a), the President shall 
submit a copy of such report to--
            (1) the Secretary of Defense;
            (2) the Secretary of State;
            (3) the Secretary of the Treasury; and
            (4) the Administrator of the United States Agency for 
        International Development.
    (b) Availability.--The President shall make the unclassified 
portion of each report submitted under section 201(a) available--
            (1) to the public in hard copy, upon request and for a 
        reasonable fee; and
            (2) on an appropriate Internet Web site of an agency or 
        instrumentality of the United States Government.

SEC. 203. TREATMENT OF SENSITIVE MATERIAL.

    (a) Form of Report.--The report required by section 201(a) shall be 
submitted in unclassified form but may include a classified annex.
    (b) Disclosure of Certain Information.--Nothing in this title shall 
be construed to permit or require the disclosure of information that 
is--
            (1) specifically prohibited from disclosure by any other 
        provision of law;
            (2) specifically required by Executive order to be 
        protected from disclosure in the interest of national defense 
        or national security or in the conduct of foreign affairs; or
            (3) a part of an ongoing criminal investigation.

SEC. 204. DEFINITION.

    In this title, the term ``earthquake recovery and redevelopment'' 
means assistance provided to the Haitian government, Haitian private 
sector entities, and the Haitian people to restore and strengthen the 
functioning of the government, the economic system, and society after 
the earthquake that occurred on January 12, 2010.
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