stakeholders described in subsection (b), shall submit to 
the relevant congressional committees a report that ad-
dresses— 
(1) progress toward and a strategy for encour-
aging remittance and reducing transaction costs; 
(2) remittance cost trends and barriers; 
(3) impact of United States tax policy on dias-
pora investments; 
(4) institutional collaboration with African gov-
ernments, governments of Caribbean countries, and 
diaspora-led ventures; 
(5) uptake and effectiveness of financial instru-
ments created under this Act; 
(6) challenges and obstacles associated with 
achieving the aforementioned goals; and 
(7) recommendations relating to programmatic 
or appropriations measures that could potentially en-
hance the implementation of the strategy, including 
legislative or executive policy changes for such en-
hanced implementation. 
(b) CONSULTATIONS.—In developing the report re-
quired by this section, the Secretary of the Treasury and 
the Secretary of State shall, as appropriate and prac-
ticable, consult with— 
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(1) stakeholders in the United States and in Af-
rica and Caribbean from the private sector, civil so-
ciety, and African diaspora; 
(2) relevant agencies; 
(3) State, local, and Tribal governments; and 
(4) other relevant United States development 
agencies and entities. 
(c) FINAL REPORT.—Not later than 10 years after 
the date of the submission of the initial report required 
by subsection (a), the President shall submit to the appro-
priate congressional committees a report that assesses 
progress over the preceding decade of the strategy. Such 
report shall also include the following: 
(1) An assessment of the progress made in the 
implementation of the strategy over the preceding 
decade with respect to each of the goals described in 
subsection (a). 
(2) An assessment of the successes, challenges, 
and effectiveness of the strategy and its implementa-
tion. 
(3) Recommended legislative or executive policy 
changes relevant to addressing any gaps, policy or 
program shortcomings, or other outstanding chal-
lenges relating to the goals of the strategy, along 
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with descriptions of prospective follow-up activities 
necessary to address such challenges. 
(4) Recommendations relating to programmatic 
or appropriations measures that could potentially en-
hance the implementation of the strategy, including 
legislative or executive policy changes for such en-
hanced implementation. 
SEC. 11. DEFINITIONS. 
In this Act: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Affairs, the 
Committee on Ways and Means, and the Com-
mittee on Financial Services of the House of 
Representatives; and 
(B) the Committee on Foreign Relations, 
the Committee on Finance, and the Committee 
on Banking, Housing, and Urban Affairs of the 
Senate. 
(2) AFRICA.—The term ‘‘Africa’’ means the 54 
countries recognized by the African Union. 
(3) AFRICAN
DIASPORA.—The term ‘‘African 
Diaspora’’ means individuals of African or Carib-
bean descent residing outside their countries of ori-
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gin, including first-generation immigrants and de-
scendants. 
(4) CARIBBEAN COUNTRIES.—The term ‘‘Carib-
bean countries’’ means the 15 countries of the Car-
ibbean Community (CARICOM). 
(5) REMITTANCES.—The term ‘‘remittances’’ 
means personal transfers made across borders for 
family support or micro-investment, and does not in-
clude corporate or institutional capital flows. 
Æ 
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