§ 290m-2. — Community adjustment and investment program.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC290m-2]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XXVIII--NORTH AMERICAN DEVELOPMENT BANK AND RELATED
PROVISIONS
Sec. 290m-2. Community adjustment and investment program
(a) The President
(1) The President may enter into an agreement with the Bank that
facilitates implementation by the President 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 programs, the community
adjustment and investment program, pursuant 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 community 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 661a of
title 2, and, as appropriate, other costs associated with such loans,
all subject to the restrictions and limitations that apply to such
agency's existing 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 consist 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
(iv) other appropriate entities with relevant expertise.
(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 members 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 investment
program, including advice on the guidelines to be established by
the President for the loans and loan guarantees to be made
pursuant to subsection (a)(4) of this section, advice on
identifying the needs for adjustment assistance and investment
in support of the goals and objectives of the Agreement, taking
into account economic and geographic considerations, 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 provide 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 comments, and to provide the
President with summaries of the public comments; and
(B) to perform an independent inspection and programmatic
audit of the operation of the community adjustment and
investment program and to provide the President with the
conclusions of its investigation and audit.
(2) Authorization of appropriations
There are authorized to be appropriated to the President, or
such agency as 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.
(Pub. L. 103-182, title V, Sec. 543, Dec. 8, 1993, 107 Stat. 2167.)
References in Text
The Federal Advisory Committee Act, referred to in subsec. (b)(1),
(4)(D), is Pub. L. 92-463, Oct. 6, 1972, 86 Stat. 770, as amended, which
is set out in the Appendix to Title 5, Government Organization and
Employees.
Delegation of Functions
Functions of President under subsec. (a)(1) to (3) of this section
delegated to Secretary of the Treasury and functions of President under
subsecs. (a)(5) and (d) of this section delegated to Community
Adjustment and Investment Program Finance Committee by sections 4 to 6
of Ex. Ord. No. 12916, May 13, 1994, 59 F.R. 25780, set out as a note
under section 3473 of Title 19, Customs Duties.
Termination of Advisory Committees
Advisory committees established after Jan. 5, 1973, to terminate not
later than the expiration of the 2-year period beginning on the date of
their establishment, unless, in the case of a committee established by
the President or an officer of the Federal Government, such committee is
renewed by appropriate action prior to the expiration of such 2-year
period, or in the case of a committee established by Congress, its
duration is otherwise provided by law. See section 14 of Pub. L. 92-463,
Oct. 6, 1972, 86 Stat. 776, set out in the Appendix to Title 5,
Government Organization and Employees.
Community Adjustment and Investment Program Finance Committee
For provisions establishing the Community Adjustment and Investment
Program Finance Committee to assist in carrying out the program pursuant
to subsec. (a)(3) of this section and to provide to the President advice
and conclusions of reviews by the Advisory Committee pursuant to subsec.
(b)(3) of this section and summaries of public comments or conclusions
of investigations and audits by the ombudsman pursuant to subsec. (c)(1)
of this section, see Ex. Ord. No. 12916, Secs. 7-9, May 13, 1994, 59
F.R. 25780, set out as a note under section 3473 of Title 19, Customs
Duties.
Definitions
Agreement means the North American Free Trade Agreement, see section
3301(1) of Title 19, Customs Duties.
Section Referred to in Other Sections
This section is referred to in section 290m of this title.
