H. R. 3450—111
including the courts enumerated in section 460 of title 28, United
States Code, shall have original jurisdiction of any such action.
When the Bank is a defendant in any action in a State court,
it may at any time before trial remove the action into the appro-
priate district court of the United States by following the procedure
for removal provided in section 1446 of title 28, United States
Code.
(h) EXEMPTION FROM SECURITIES LAWS FOR CERTAIN SECURI-
TIES ISSUED BY THE BANK; REPORTS REQUIRED.—
(1) EXEMPTIONS FROM LIMITATIONS AND RESTRICTIONS ON
THE POWER OF NATIONAL BANKING ASSOCIATIONS TO DEAL IN
AND UNDERWRITE INVESTMENT SECURITIES OF THE BANK.—The
seventh sentence of the seventh undesignated paragraph of
section 5136 of the Revised Statutes of the United States (12
U.S.C. 24), is amended by inserting ‘‘the North American Devel-
opment Bank,’’ after ‘‘Inter-American Development Bank,’’.
(2) EXEMPTION FROM SECURITIES LAWS FOR CERTAIN SECURI-
TIES ISSUED BY THE BANK; REPORTS REQUIRED.—Any securities
issued by the Bank (including any guarantee by the Bank,
whether or not limited in scope) in connection with the raising
of funds for inclusion in the Bank’s capital resources as defined
in Section 4 of Article II of Chapter II of the Cooperation
Agreement, and any securities guaranteed by the Bank as
to both the principal and interest to which the commitment
in Section 3(d) of Article II of Chapter II of the Cooperation
Agreement is expressly applicable, shall be deemed to be
exempted securities within the meaning of section 3(a)(2) of
the Securities Act of 1933 (15 U.S.C. 77c), and section 3(a)(12)
of the Securities Exchange Act of 1934 (15 U.S.C. 78c). The
Bank shall file with the Securities and Exchange Commission
such annual and other reports with regard to such securities
as the Commission shall determine to be appropriate in view
of the special character of the Bank and its operations and
necessary in the public interest or for the protection of inves-
tors.
(3) AUTHORITY OF SECURITIES AND EXCHANGE COMMISSION
TO SUSPEND EXEMPTION; REPORTS TO THE CONGRESS.—The Secu-
rities and Exchange Commission, acting in consultation with
the National Advisory Council on International Monetary and
Financial Problems, is authorized to suspend the provisions
of paragraph (2) at any time as to any or all securities issued
or guaranteed by the Bank during the period of such suspen-
sion. The Commission shall include in its annual reports to
Congress such information as it shall deem advisable with
regard to the operations and effect of this subsection and in
connection therewith shall include any views submitted for
such purpose by any association of dealers registered with
the Commission.
SEC. 542. STATUS, IMMUNITIES, AND PRIVILEGES.
Article VIII of Chapter II of the Cooperation Agreement shall
have full force and effect in the United States, its territories and
possessions, and the Commonwealth of Puerto Rico, upon entry
into force of the Cooperation Agreement.
SEC. 543. COMMUNITY ADJUSTMENT AND INVESTMENT PROGRAM.
(a) THE PRESIDENT.—(1) The President may enter into an agree-
ment with the Bank that facilitates implementation by the Presi-
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H. R. 3450—112
dent of a program for community adjustment and investment in
support of the Agreement pursuant to chapter II of the Cooperation
Agreement (hereafter in this section referred to as the ‘‘community
adjustment and investment program’’).
(2) The President may receive from the Bank 10 percent of
the paid-in capital actually paid to the Bank by the United States
for the President to carry out, without further appropriations,
through Federal agencies and their loan and loan guarantee pro-
grams, the community adjustment and investment program, pursu-
ant to an agreement between the President and the Bank.
(3) The President may select one or more Federal agencies
that make loans or guarantee the repayment of loans to assist
in carrying out the community adjustment and investment program,
and may transfer the funds received from the Bank to such agency
or agencies for the purpose of assisting in carrying out the commu-
nity adjustment and investment program.
(4)(A) Each Federal agency selected by the President to assist
in carrying out the community adjustment and investment program
shall use the funds transferred to it by the President from the
Bank to pay for the costs of direct and guaranteed loans, as defined
in section 502 of the Congressional Budget Act of 1974, and, as
appropriate, other costs associated with such loans, all subject
to the restrictions and limitations that apply to such agency’s exist-
ing loan or loan guarantee program.
(B) Funds transferred to an agency under subparagraph (A)
shall be in addition to the amount of funds authorized in any
appropriations Act to be expended by that agency for its loan
or loan guarantee program.
(5) The President shall—
(A) establish guidelines for the loans and loan guarantees
to be made under the community adjustment and investment
program;
(B) endorse the grants made by the Bank for the community
adjustment and investment program, as provided in Article
I, section 1(b), and Article III, section 11(a), of Chapter II
of the Cooperation Agreement; and
(C) endorse any loans or guarantees made by the Bank
for the community adjustment and investment program, as
provided in Article I, section 1(b), and Article III, section 6
(a) and (c) of Chapter II of the Cooperation Agreement.
(b) ADVISORY COMMITTEE.—
(1) ESTABLISHMENT.—The President shall establish an
advisory committee to be known as the Community Adjustment
and Investment Program Advisory Committee (in this section
referred to as the ‘‘Advisory Committee’’) in accordance with
the provisions of the Federal Advisory Committee Act.
(2) MEMBERSHIP.—
(A) IN GENERAL.—The Advisory Committee shall con-
sist of 9 members of the public, appointed by the President,
who, collectively, represent—
(i) community groups whose constituencies include
low-income families;
(ii) any scientific, professional, business, nonprofit,
or public interest organization or association which
is neither affiliated with, nor under the direction of,
a government;
(iii) for-profit business interests; and
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H. R. 3450—113
(iv) other appropriate entities with relevant exper-
tise.
(B) REPRESENTATION.—Each of the categories described
in clauses (i) through (iv) of subparagraph (A) shall be
represented by no fewer than 1 and no more than 3 mem-
bers of the Advisory Committee.
(3) FUNCTION.—It shall be the function of the Advisory
Committee—
(A) to provide advice to the President regarding the
implementation of the community adjustment and invest-
ment program, including advice on the guidelines to be
established by the President for the loans and loan guaran-
tees to be made pursuant to subsection (a)(4), advice on
identifying the needs for adjustment assistance and invest-
ment in support of the goals and objectives of the Agree-
ment, taking into account economic and geographic consid-
erations, and advice on such other matters as may be
requested by the President; and
(B) to review on a regular basis the operation of the
community adjustment and investment program and pro-
vide the President with the conclusions of its review.
(4) TERMS OF MEMBERS.—
(A) IN
GENERAL.—Each member of the Advisory
Committee shall serve at the pleasure of the President.
(B) CHAIRPERSON.—The President shall appoint a
chairperson from among the members of the Advisory
Committee.
(C) MEETINGS.—The Advisory Committee shall meet
at least annually and at such other times as requested
by the President or the chairperson. A majority of the
members of the Advisory Committee shall constitute a
quorum.
(D) REIMBURSEMENT FOR EXPENSES.—The members of
the Advisory Committee may receive reimbursement for
travel, per diem, and other necessary expenses incurred
in the performance of their duties, in accordance with
the Federal Advisory Committee Act.
(E) STAFF AND FACILITIES.—The Advisory Committee
may utilize the facilities and services of employees of any
Federal agency without cost to the Advisory Committee,
and any such agency is authorized to provide services as
requested by the Committee.
(c) OMBUDSMAN.—The President shall appoint an ombudsman
to provide the public with an opportunity to participate in the
carrying out of the community adjustment and investment program.
(1) FUNCTION.—It shall be the function of the ombudsman—
(A) to establish procedures for receiving comments from
the general public on the operation of the community
adjustment and investment program, to receive such com-
ments, and to provide the President with summaries of
the public comments; and
(B) to perform an independent inspection and pro-
grammatic audit of the operation of the community adjust-
ment and investment program and to provide the President
with the conclusions of its investigation and audit.
(2) AUTHORIZATION OF APPROPRIATIONS.—There are author-
ized to be appropriated to the President, or such agency as
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H. R. 3450—114
the President may designate, $25,000 for fiscal year 1995 and
for each fiscal year thereafter, for the costs of the ombudsman.
(d) REPORTING REQUIREMENT.—The President shall submit to
the appropriate congressional committees an annual report on the
community adjustment and investment program (if any) that is
carried out pursuant to this section. Each report shall state the
amount of the loans made or guaranteed during the 12-month
period ending on the day before the date of the report.
SEC. 544. DEFINITION.
For purposes of this part, the term ‘‘Border Environment
Cooperation Agreement’’ (referred to in this part as the ‘‘Cooperation
Agreement’’) means the November 1993 Agreement Between the
Government of the United States of America and the Government
of the United Mexican States Concerning the Establishment of
a Border Environment Cooperation Commission and a North Amer-
ican Development Bank.
TITLE VI—CUSTOMS MODERNIZATION
SEC. 601. REFERENCE.
Whenever in subtitle A, B, or C an amendment or repeal
is expressed in terms of an amendment to, or repeal of, a part,
section, subsection, or other provision, the reference shall be consid-
ered to be made a part, section, subsection, or other provision
of the Tariff Act of 1930 (19 U.S.C. 1202 et seq.).
Subtitle A—Improvements in Customs
Enforcement
SEC. 611. PENALTIES FOR VIOLATIONS OF ARRIVAL, REPORTING,
ENTRY, AND CLEARANCE REQUIREMENTS.
Section 436 (19 U.S.C. 1436) is amended—
(1) by amending subsection (a)—
(A) by striking out ‘‘433’’ in paragraph (1) and inserting
‘‘431, 433, or 434 of this Act or section 4197 of the Revised
Statutes of the United States (46 U.S.C. App. 91)’’,
(B) by amending paragraph (2) to read as follows:
‘‘(2) to present or transmit, electronically or otherwise,
any forged, altered, or false document, paper, information, data
or manifest to the Customs Service under section 431(e), 433(d),
or 434 of this Act or section 4197 of the Revised Statutes
of the United States (46 U.S.C. App. 91) without revealing
the facts; or’’, and
(C) by amending paragraph (3) to read as follows:
‘‘(3) to fail to make entry or to obtain clearance as required
by section 434 or 644 of this Act, section 4197 of the Revised
Statutes of the United States (46 U.S.C. App. 91), or section
1109 of the Federal Aviation Act of 1958 (49 U.S.C. App.
1509); or’’; and
(2) by striking out ‘‘AND ENTRY’’ in the section heading
and inserting ‘‘ENTRY, AND CLEARANCE’’.
SEC. 612. FAILURE TO DECLARE.
Section 497(a) (19 U.S.C. 1497(a)) is amended—
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