agency or program, or any officer or em-
ployee employed by, or involved in, a gov-
ernmental agency or program. 
(b) EXECUTIVE DIRECTOR.—The Board shall hire an 
Executive Director of the Foundation, who shall serve, at 
the pleasure of the Board, as the Chief Executive Officer 
of the Foundation. 
(c) FOUNDATION STAFF.—Officers and employees of 
the Foundation— 
(1) may not be employees of, or hold any office 
in, the United States Government; 
(2) shall be appointed without regard to the 
provisions of— 
(A) title 5, United States Code, governing 
appointments in the competitive service; and 
(B) chapter 51 and subchapter III of chap-
ter 53 of such title, relating to classification 
and General Schedule pay rates; and 
(3) may not receive a salary at a rate in excess 
of 150 percent of the maximum rate of basic pay au-
thorized for positions at level I of the Executive 
Schedule under section 5312 of title 5, United 
States Code, for that fiscal year. 
(d) LIMITATION AND CONFLICTS OF INTERESTS.— 
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(1) POLITICAL PARTICIPATION.—The Founda-
tion may not participate or intervene in any political 
campaign on behalf of any candidate for public of-
fice in any country. 
(2) FINANCIAL
INTERESTS.—Any Director of 
the Board or officer or employee of the Foundation 
is prohibited from participating, directly or indi-
rectly, in the consideration or determination of any 
question before the Foundation affecting— 
(A) the financial interests of such Director, 
officer, or employee; and 
(B) the interests of any corporation, part-
nership, entity, or organization in which such 
Director, officer, or employee has any fiduciary 
obligation or direct or indirect financial inter-
est. 
SEC. 5. CORPORATE POWERS AND OBLIGATIONS OF THE 
FOUNDATION. 
(a) GENERAL AUTHORITY.— 
(1) IN GENERAL.—The Foundation— 
(A) may conduct business throughout the 
States, territories, and possessions of the 
United States and in foreign countries; 
(B) shall have its principal offices in the 
Washington, DC, metropolitan area; and 
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(C) shall continuously maintain a des-
ignated agent in Washington, DC, who is au-
thorized to accept notice or service of process 
on behalf of the Foundation. 
(2) NOTICE AND SERVICE OF PROCESS.—The 
serving of notice to, or service of process upon, the 
agent referred to in paragraph (1)(C), or mailed to 
the business address of such agent, shall be deemed 
as service upon, or notice to, the Foundation. 
(3) SEAL.—The Foundation shall have an offi-
cial seal, which shall be selected by the Board and 
judicially noticed. 
(b) AUTHORITIES.—In addition to powers explicitly 
authorized under this Act, the Foundation, in order to 
carry out the purposes described in section 3(b), shall have 
the usual powers of a corporation headquartered in Wash-
ington, DC, including the authority— 
(1) to accept, receive, solicit, hold, administer, 
and use any gift, devise, or bequest, either absolutely 
or in trust, or real or personal property or any in-
come derived from such gift or property, or other in-
terest in such gift or property located in the United 
States; 
(2) to acquire by donation, gift, devise, pur-
chase, or exchange any real or personal property or 
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interest in such property located in the United 
States; 
(3) unless otherwise required by the instrument 
of transfer, to sell, donate, lease, invest, reinvest, re-
tain, or otherwise dispose of any property or income 
derived from such property located in the United 
States; 
(4) to borrow money and issue bonds, deben-
tures, or other debt instruments; 
(5) to complain and defend itself in any court 
of competent jurisdiction (except that the Directors 
of the Board shall not be personally liable, except for 
gross negligence); 
(6) to enter into contracts or other arrange-
ments with public agencies, private organizations, 
and persons and to make such payments as may be 
necessary to carry out the purposes of such con-
tracts or arrangements; and 
(7) to award grants for eligible projects, in ac-
cordance with section 7. 
(c) LIMITATION OF PUBLIC LIABILITY.—The United 
States shall not be liable for any debts, defaults, acts, or 
omissions of the Foundation. 
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SEC. 6. SAFEGUARDS AND ACCOUNTABILITY. 
(a) SAFEGUARDS.—The Foundation shall develop, 
and incorporate into any agreement for support provided 
by the Foundation, appropriate safeguards, policies, and 
guidelines, consistent with internationally recognized best 
practices and standards for environmental and social safe-
guards. 
(b) INDEPENDENT ACCOUNTABILITY MECHANISM.— 
(1) IN GENERAL.—The Foundation shall estab-
lish a transparent and independent accountability 
mechanism, which shall provide— 
(A) a compliance review function that as-
sesses whether Foundation-supported projects 
adhere to the requirements developed pursuant 
to subsection (a); 
(B) a dispute resolution function for re-
solving concerns between complainants and 
project implementers regarding the impacts of 
specific Foundation-supported projects with re-
spect to such standards; and 
(C) an advisory function that reports to 
the Foundation on projects, policies, and prac-
tices. 
(2) DUTIES.—The accountability mechanism 
shall— 
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(A) report annually to the Board and to 
the appropriate congressional committees re-
garding the Foundation’s compliance with inter-
nationally recognized best practices and stand-
ards in accordance with paragraph (1)(A); 
(B)(i) have permanent staff to conduct 
compliance reviews and dispute resolutions; or 
(ii) maintain a roster of experts to 
serve such roles, to the extent needed; and 
(C) hold a public comment period lasting 
not fewer than 60 days regarding the initial de-
sign of the accountability mechanism. 
(c) INTERNAL ACCOUNTABILITY.—The Foundation 
shall establish an ombudsman position at a senior level 
of executive staff as a confidential, neutral source of infor-
mation and assistance to anyone affected by the activities 
of the Foundation. 
SEC. 7. PROJECTS AND GRANTS. 
(a) PROJECT FUNDING REQUIREMENTS.— 
(1) IN GENERAL.—The Foundation shall— 
(A) provide grants to fund eligible projects 
described in paragraph (2) that support its mis-
sion to provide long-term funding for the effec-
tive management of protected and conserved 
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areas and their contiguous buffer zones in eligi-
ble countries; and 
(B) recognize the importance of a land-
scape or seascape approach to conservation that 
includes buffer zones, wildlife dispersal and cor-
ridor areas, and other effective area-based con-
servation measures. 
(2) ELIGIBLE
PROJECTS.—Eligible projects 
shall include projects that— 
(A) focus on supporting— 
(i) long-term management of pro-
tected or conserved areas and their contig-
uous buffer zones in countries described in 
subsection (b), including terrestrial, coast-
al, and marine protected or conserved 
areas, parks, community conservancies, In-
digenous reserves, conservation easements, 
and biological reserves; and 
(ii) other effective area-based con-
servation measures; 
(B) are cost-matched at a ratio of 2 from 
other sources to 1 from the United States Gov-
ernment; 
(C) have host country and local population 
support, as evidenced by a long-term binding 
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memorandum of understanding signed by the 
host government that respects free, prior, and 
informed consent of affected communities; 
(D) incorporate a set of key performance 
indicators; 
(E) demonstrate robust local community 
engagement, with the completion of appropriate 
environmental and social due diligence, includ-
ing— 
(i) free, prior, and informed consent 
of Indigenous Peoples and prior consulta-
tion with relevant local communities; 
(ii) equitable governance structures; 
and 
(iii) effective grievance mechanisms; 
(F) create economic opportunities for local 
communities, through activities such as— 
(i) equity and profit-sharing; 
(ii) employment activities; and 
(iii) other economic growth activities; 
(G) provide stable baseline funding for the 
effective management of the protected or con-
served area project; 
(H) are implementation-ready; and 
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(I) where possible, demonstrate a plan to 
strengthen the capacity of, and transfer skills 
to, local institutions to manage the protected or 
conserved area before or after grant funding is 
exhausted. 
(b) ELIGIBLE COUNTRIES.— 
(1) IN GENERAL.—Before awarding any grants 
or entering into any project agreements for a given 
fiscal year, the Board shall conduct a review to de-
termine candidate countries in which the Foundation 
shall be eligible to fund projects to determine which 
countries— 
(A) are low-income, lower middle-income, 
or upper-middle-income economies (as defined 
by the International Bank for Reconstruction 
and Development and the International Devel-
opment Association); 
(B) have— 
(i) a high degree of threatened or at 
risk biological diversity; or 
(ii) species or ecosystems of signifi-
cant importance, including threated or en-
dangered species or ecosystems at risk of 
degradation or destruction; and 
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(C) have demonstrated a commitment to 
conservation through actions, such as protecting 
lands and waters through the gazettement of 
national parks, community conservancies, ma-
rine reserves and protected areas, forest re-
serves, or other legally recognized forms of 
place-based conservation. 
(2) 
IDENTIFICATION
OF
ELIGIBLE
COUN-
TRIES.—Not later than 5 days after the date on 
which the Board determines which countries are eli-
gible countries for a given fiscal year, the Executive 
Director shall— 
(A) submit a report to the appropriate con-
gressional committees that includes— 
(i) a list of all such eligible countries 
as determined through the review process 
described in paragraph (1); and 
(ii) a justification for such eligibility ; 
and 
(B) publish the information contained in 
the report described in paragraph (A) in the 
Federal Register. 
(c) GRANTMAKING.— 
(1) IN
GENERAL.—In order to maximize its 
program effects, the Foundation shall— 
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(A) coordinate with other international 
public and private donors to the extent possible; 
(B) seek additional financial and non-
financial contributions and commitments for its 
projects from host governments; 
(C) strive to generate a partnership men-
tality among all participants, including public 
and private funders, host governments, local 
protected areas authorities, and private and 
nongovernmental organization partners; and 
(D) prioritize investments in communities 
with low levels of economic development to the 
extent practicable. 
(2) GRANT CRITERIA.—Foundation grants— 
(A) shall fund the management of well-de-
fined protected or conserved areas and the sys-
tems of such conservation areas in eligible 
countries; 
(B) should provide adequate baseline fund-
ing for at least 10 years, indexed for inflation, 
without replacing or duplicating existing base-
line funding, for each protected and conserved 
area and the system that supports that area in 
an amount sufficient to maintain the effective 
management of the area over the long term; 
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(C) should, during the grant period, dem-
onstrate progress in achieving clearly identified 
key performance indicators (as defined in the 
grant agreement), which may include— 
(i) the protection of biological diver-
sity; 
(ii) the protection of native flora and 
habitats, such as trees, forests, wetlands, 
grasslands, mangroves, coral reefs, and sea 
grass; 
(iii) 
community-based 
economic 
growth indicators, such as improved land 
tenure, increases in beneficiaries partici-
pating in economic growth activities, and 
sufficient income from conservation activi-
ties being directed to communities in 
project areas; 
(iv) improved management of the pro-
tected or conserved area covered by the 
project, as documented through the sub-
mission of strategic plans or annual re-
ports to the Foundation; and 
(v) the identification of additional rev-
enue sources or sustainable financing 
mechanisms to meet the recurring costs of 
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management of the protected or conserved 
areas; and 
(D) may be terminated if the Board deter-
mines that the project is not meeting applicable 
requirements under this Act or making progress 
in achieving the key performance indicators de-
fined in the grant agreement. 
SEC. 8. PROHIBITION OF SUPPORT IN COUNTRIES THAT 
SUPPORT TERRORISM OR VIOLATE HUMAN 
RIGHTS AND OF SUPPORT FOR SANCTIONED 
PERSONS. 
(a) IN GENERAL.—The Foundation may not provide 
support for any government, or any entity owned or con-
trolled by a government, if the Secretary has determined 
that such government— 
(1) has repeatedly provided support for acts of 
international terrorism, as determined under— 
(A) section 1754(c)(1)(A)(i) of the Export 
Control Reform Act of 2018 (22 U.S.C. 
4813(c)(1)(A)(i)); 
(B) section 620A(a) of the Foreign Assist-
ance Act of 1961 (22 U.S.C. 2371(a)); 
(C) section 40(d) of the Arms Export Con-
trol Act (22 U.S.C. 2780(d)); or 
(D) any other relevant provision of law; or 
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(2) has engaged in a consistent pattern of gross 
violations 
of 
internationally 
recognized 
human 
rights, as determined under section 116(a) or 
502B(a)(2) of the Foreign Assistance Act of 1961 
(22 U.S.C. 2151n(a) and 2304(a)(2)) or any other 
relevant provision of law. 
(b) PROHIBITION
OF SUPPORT
FOR SANCTIONED 
PERSONS.—The Foundation may not engage in any deal-
ing prohibited under United States sanctions laws or regu-
lations, including dealings with persons on the list of spe-
cially designated persons and blocked persons maintained 
by the Office of Foreign Assets Control of the Department 
of the Treasury, except to the extent otherwise authorized 
by the Secretary or by the Secretary of the Treasury. 
(c) PROHIBITION OF SUPPORT FOR ACTIVITIES SUB-
JECT TO SANCTIONS.—The Foundation shall require any 
person receiving support to certify that such person, and 
any entity owned or controlled by such person, is in com-
pliance with all United States sanctions laws and regula-
tions. 
SEC. 9. ANNUAL REPORT. 
Not later than 360 days after the date of the enact-
ment of this Act, and annually thereafter while the Foun-
dation continues to operate, the Executive Director of the 
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Foundation shall submit a report to the appropriate con-
gressional committees that describes— 
(1) the goals of the Foundation; 
(2) the programs, projects, and activities sup-
ported by the Foundation; 
(3) private and governmental contributions to 
the Foundation; and 
(4) the standardized criteria utilized to deter-
mine the programs and activities supported by the 
Foundation, including baselines, targets, desired out-
comes, measurable goals, and extent to which those 
goals are being achieved for each project. 
SEC. 10. AUTHORIZATION OF APPROPRIATIONS. 
(a) IN GENERAL.—There are authorized to be appro-
priated to the Foundation $1,000,000 for fiscal year 2024 
and $100,000,000 for each of the fiscal years 2025 
through 2035 to carry out the purposes of this Act. 
(b) COST MATCHING REQUIREMENT.—Amounts ap-
propriated pursuant to subsection (a) may only be made 
available to grantees to the extent the Foundation or such 
grantees secure funding for an eligible project from 
sources other than the United States Government in an 
amount that is not less than twice the amount received 
in grants for such project pursuant to section 7. 
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(c) PROHIBITION ON USE OF GRANT AMOUNTS FOR 
LOBBYING EXPENSES.—Amounts provided as a grant by 
the Foundation shall not be used for any activity the pur-
pose of which is to influence legislation pending before the 
United States Congress. 
Æ 
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