[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7571 Introduced in House (IH)]
<DOC>
118th CONGRESS
2d Session
H. R. 7571
To establish a regional trade, investment, and people-to-people
partnership of countries in the Western Hemisphere to stimulate growth
and integration through viable long-term private sector development,
and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 6, 2024
Ms. Salazar (for herself, Mr. Espaillat, and Mr. Gallagher) introduced
the following bill; which was referred to the Committee on Ways and
Means, and in addition to the Committees on Foreign Affairs, Financial
Services, the Judiciary, Rules, Energy and Commerce, and Homeland
Security, for a period to be subsequently determined by the Speaker, in
each case for consideration of such provisions as fall within the
jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To establish a regional trade, investment, and people-to-people
partnership of countries in the Western Hemisphere to stimulate growth
and integration through viable long-term private sector development,
and for other purposes.
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 ``Americas Act''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
TITLE I--ADMINISTRATION
Sec. 101. Americas Institute for Digital Governance.
Sec. 102. E-governance framework.
Sec. 103. Additional duties of Institute.
Sec. 104. Funding.
TITLE II--TRADE AND INVESTMENT FOR THE AMERICAS
Subtitle A--Administration
Sec. 201. Partnership agreements.
Sec. 202. Americas Partnership business advisory board.
Sec. 203. Administration.
Sec. 204. Americas Partnership Secretariat.
Sec. 205. Report.
Subtitle B--Trade
Chapter 1--Re-shoring and Near-shoring
Sec. 211. Sense of Congress.
Sec. 212. Incentives for re-shoring and near-shoring of businesses from
People's Republic of China.
Sec. 213. Tax credit for qualifying re-shoring and near-shoring
expenses.
Chapter 2--Free Trade Expansion
Sec. 221. Tariff reciprocity under GATT 1994.
Sec. 222. Expansion of USMCA or establishment of other regional trade
agreement.
Sec. 223. Americas Partnership Threshold Program.
Sec. 224. Expansion of beneficiaries under United States-Caribbean
Basin Trade Partnership Act.
Sec. 225. Exclusion of certain countries from certain preferential
trade treatment.
Sec. 226. Extension of trade promotion authority to Americas partner
countries for purposes of expansion of
USMCA.
Chapter 3--Textile and Apparel
Sec. 231. Textile and apparel grant program.
Sec. 232. Textile reuse and recycling programs.
Sec. 233. Textile production verification teams.
Sec. 234. Tax benefits for apparel and home textile products.
Chapter 4--Trade Enforcement
Sec. 241. Establishment of special enforcement unit of U.S. Customs and
Border Protection to monitor the
implementation of Uyghur Forced Labor
Prevention Act.
Sec. 242. Authorization of payments to whistleblowers relating to money
laundering or illicit financial
transactions.
Sec. 243. Establishment of borders and ports protection program.
Sec. 244. Establishment of mutual recognition agreements and trade
transparency units.
Chapter 5--Medical Equipment and Supplies Grant Program
Sec. 245. Medical equipment and supplies grant program.
Subtitle C--Investment
Sec. 251. Sense of Congress.
Sec. 252. BUILD Americas Unit.
Sec. 253. Americas Partnership Enterprise Fund.
Sec. 254. Near-shoring of strategic supply chains.
Sec. 255. Transformational Energy Development.
Subtitle D--People-to-People Activities
Sec. 261. Humanitarian and business development assistance.
Sec. 262. Department of State.
Sec. 263. Peace Corps.
Sec. 264. American University of the Americas.
Sec. 265. United States Agency for International Development Caribbean
and Latin American Scholarship Program III.
Sec. 266. Concern for Advanced Retired and Elderly nonimmigrant visa
program for aliens who provide direct care
for elderly populations.
Sec. 267. Sense of Congress on TN visa program.
Sec. 268. Assessment of visa waiver program eligibility for Uruguay and
Costa Rica.
Sec. 269. Radio Free Americas.
Sec. 270. Biennial presidential summit.
TITLE III--REVENUE AND FINANCIAL MANAGEMENT
Sec. 301. Re-shoring and Near-shoring Account.
Sec. 302. Modification of treatment of de minimis entries of articles.
TITLE IV--REPORTING AND BRANDING
Sec. 401. Annual report on Americas program.
Sec. 402. Branding and marketing for Americas program.
SEC. 2. DEFINITIONS.
In this Act:
(1) Americas partner country.--The term ``Americas partner
country'' means a county that has entered into a partnership
agreement under section 201.
(2) Americas program.--The term ``Americas program'' means
the provision of assistance to and other activities relating to
Americas partner countries under title II or amendments made by
title II.
(3) BUILD americas unit.--The term ``BUILD Americas Unit''
means the unit of the United States International Development
Finance Corporation established under section 1416 of the BUILD
Act of 2018, as added by section 252.
(4) Near-shore.--The term ``near-shore''--
(A) with respect to an entity, means to move not
less than the equivalent of \2/3\ of the operations of
the entity from the People's Republic of China to one
or more Americas partner countries or other countries
as provided for under title II; and
(B) with respect to a good or service, means to
move not less than the equivalent of \2/3\ of the
production of the good or service from the People's
Republic of China to such countries.
(5) Re-shore.--The term ``re-shore''--
(A) with respect to an entity, means to move not
less than the equivalent of \2/3\ of the operations of
the entity from the People's Republic of China to the
United States; and
(B) with respect to a good or service, means to
move not less than the equivalent of \2/3\ of the
production of the good or service from the People's
Republic of China to the United States.
(6) United states business.--The term ``United States
business'' means an entity--
(A) organized under the laws of the United States
or any jurisdiction within the United States;
(B) with its headquarters based in the United
States (as determined on the date that is 180 days
after the date of the enactment of this Act); and
(C) with more than 25 percent of its business
inside the United States.
(7) United states person.--
(A) In general.--The term ``United States person''
means--
(i) an individual who is a citizen or
resident of the United States; or
(ii) an entity organized under the laws of
the United States or any jurisdiction within
the United States.
(B) Resident.--For purposes of subparagraph (A)(i),
an individual is a resident of the United States if the
individual is authorized to be employed in the United
States.
(8) USMCA.--The term ``USMCA'' has the meaning given that
term in section 3 of the United States-Mexico-Canada Agreement
Implementation Act (19 U.S.C. 4502).
(9) USMCA country.--The term ``USMCA country'' has the
meaning given that term in section 202(a) of the United States-
Mexico-Canada Agreement Implementation Act (19 U.S.C.
4531(a))).
TITLE I--ADMINISTRATION
SEC. 101. AMERICAS INSTITUTE FOR DIGITAL GOVERNANCE.
(a) Establishment.--There is established a nonprofit organization
within the United States to be known as the ``Americas Institute for
Digital Governance'' (in this title referred as the ``Institute''),
which shall be responsible for the development and maintenance of the
e-governance framework established under section 102.
(b) Board of Directors.--
(1) In general.--There shall be in the Institute a Board of
Directors (in this section referred to as the ``Board'').
(2) Membership.--
(A) In general.--The President shall request the
head of government of each Americas partner country to
appoint one member of the Board.
(B) Appointment process.--
(i) United states.--The President shall
appoint the member of the Board representing
the United States.
(ii) Other countries.--The President shall
request the head of government of each Americas
partner country to determine a process for
appointing the member of the Board to represent
that country.
(C) Terms.--A member of the Board shall serve on
the Board for not more than 4 years.
(D) Removal.--
(i) Removal by country represented.--A
member of the Board shall serve at the
discretion of the Americas partner country the
member represents and may be removed pursuant
to a process determined by the government of
that country.
(ii) Removal by board.--A member of the
Board may be removed by a vote of \2/3\ of the
members of the Board.
(E) Vacancies.--In the event that a member of the
Board is removed under subparagraph (D) or dies or is
otherwise deemed unable to serve the remainder of the
term of the member, the government of the Americas
partner country the member represented shall appoint an
individual to serve out the remainder of that term
pursuant to a process determined by that government.
(F) Ethics requirements.--
(i) Financial disclosure.--A member of the
Board shall fully disclose the financial assets
of the member and divest from any holdings,
such as stocks or other equities, that relate
to any private entity that conducts business
with the Institute.
(ii) Blind trust requirement.--A member of
the Board shall place the assets of the member
in a blind trust for the duration of the term
of the member on the Board.
(iii) Prohibition on nepotism.--An
individual may not be appointed as a member of
the Board if a relative of the individual is an
elected official in an Americas partner
country.
(iv) Additional requirements.--The Board
may impose such other ethics and disclosure
requirements as the Board considers
appropriate.
(3) Representation.--Each member of the Board shall have an
equal vote in all matters.
(4) Meetings; quorum.--
(A) Frequency of meetings.--The Board shall meet
not less frequently than once every 90 days.
(B) Quorum.--Members of the Board representing a
majority of the total votes on the Board are required
to be present to constitute a quorum.
(5) Chairperson.--There shall be a chairperson of the
Board, who shall--
(A) be elected by a majority vote of the Board from
among members of the Board; and
(B) preside over meetings of the Board.
(6) Calculation of votes.--For purposes of determining a
majority vote of the Board, vacancies that have not been filled
shall not be counted toward any total.
(7) Access to information.--A member of the Board may
request information from the Institute and provide that
information to the government of the Americas partner country
the member represents unless the chairperson of the Board
determines that sharing that information may violate the
privacy of a user of the e-governance system, endanger cyber
security, or violate any applicable law.
(c) Staff.--
(1) Chief executive.--There shall be a Chief Executive of
the Institute, who--
(A) shall--
(i) be elected and appointed by the
majority vote of the Board; and
(ii) be vested with the full executive
authority of the Institute; and
(B) may be removed by a majority vote of the Board.
(2) Additional employees.--
(A) In general.--The Chief Executive may--
(i) appoint such employees, including
managers, assistant managers, officers,
attorneys, and agents, as the Chief Executive
considers necessary;
(ii) define the compensation (subject to
subparagraph (B)) and duties of those
employees; and
(iii) establish a system of organization to
fix responsibility and promote efficiency.
(B) Salaries.--The salaries of officers and
employees of the Institute shall be equivalent to the
salaries provided for under the General Schedule under
section 5332 of title 5, United States Code.
(C) Salary cap.--No regular officer or employee of
the Institute may receive a salary that exceeds the
salary of the Chief Executive.
(d) Corporate Powers.--Except as otherwise specifically provided in
this Act, the Institute--
(1) shall have succession in its corporate name;
(2) may sue and be sued in its corporate name;
(3) may adopt and use a corporate seal, which shall be
judicially noticed;
(4) may make contracts;
(5) may adopt, amend, and repeal bylaws; and
(6) may purchase or lease, hold, and dispose of such real
and personal property as the Institute deems necessary or
convenient in the transaction of its business.
(e) Nonprofit Organization Defined.--In this section, the term
``nonprofit organization'' means an organization--
(1) described in section 501(c)(3) of the Internal Revenue
Code of 1986; and
(2) exempt from tax under section 501(a) of such Code.
SEC. 102. E-GOVERNANCE FRAMEWORK.
(a) Development.--The Institute shall develop and maintain a
comprehensive e-governance framework for Americas partner countries.
(b) Purpose.--The purpose of the e-governance framework developed
under subsection (a) shall be to allow for the development of
interoperable services to harmonize and facilitate the delivery of
effective and transparent government services within and between
Americas partner countries.
(c) Principles.--In developing the e-governance framework under
subsection (a), the Institute shall ensure that the framework adheres
to the following principles:
(1) Interoperability.--The framework shall be designed to
allow different government systems to, when appropriate,
seamlessly share data with each other, consistent with
applicable laws and privacy restrictions under subsection (d).
(2) Decentralization.--The framework should seek to avoid
centralized control over data, and should allow the government
of each Americas partner country to maintain control over its
own data while still facilitating cross-border data sharing.
Data control and hosting under the framework should be
consistent with local law and international agreements. Nothing
in this paragraph may be construed to contravene or supercede
laws or agreements in effect before the date of the enactment
of this Act.
(3) Open standards.--The framework should, to the greatest
extent practicable, be built on open standards that are freely
available to the public.
(4) Data sovereignty.--The framework should ensure that
each Americas partner country maintains control over the data
of citizens of that country.
(5) Public-private partnerships.--The framework should
allow for the collaboration of public and private entities in
the development, design, and maintenance of e-governance
systems.
(6) Open source.--Systems developed by the Institute
should, to the extent practicable, be open source. Systems
developed by Americas partner countries are encouraged to be
open source as well.
(7) Adaptation.--The framework shall account, consistent
with other provisions of this Act, for existing e-governance
systems developed by Americas partner countries, including by
adopting, in part or in whole, existing e-governance systems as
part of the framework or as reference implementations within
the framework.
(d) Privacy.--The e-governance framework developed under subsection
(a) shall incorporate privacy best-practices, including as follows:
(1) Data minimization.--Systems developed under the
framework should collect only the minimal set of data necessary
for a given purpose and without any additional processing
unnecessary for fulfilling that purpose.
(2) Data protection.--The Institute shall define necessary
access controls for data and require encryption of data where
appropriate.
(3) Data retention.--The Institute shall develop and
publish a data retention policy, which shall--
(A) be honored by any system operating under the
framework;
(B) include a disclosure of--
(i) what user information is stored by a
particular system;
(ii) whether that information is encrypted;
and
(iii) for how long the information is
stored; and
(C) provide for the Institute to provide, in a
timely fashion, all data held related to an individual
or entity upon the request of the individual or entity.
(4) Data deletion.--Systems developed under the framework
shall, to the greatest extent practicable, include a mechanism
by which--
(A) a user may request that any system operating
under the framework delete any data on the user; and
(B) such a request is honored within 72 hours,
except as required by other applicable law.
(5) Data correction.--Systems developed under the framework
shall, to the greatest extent practicable, incorporate
mechanisms under which--
(A) a user may request to correct inaccurate data
in the framework related to the user; and
(B) such a request is honored within 72 hours after
the correct data has been verified.
(6) Other privacy practices.--The Institute may develop and
enforce such other privacy practices as the Institute considers
appropriate.
(e) Cyber Security.--The e-governance framework developed under
subsection (a) shall incorporate cyber security best practices,
including the following:
(1) Appropriate access controls and user authentication,
which may--
(A) vary by service according to the sensitivity of
the data involved; and
(B) include the integration of any national
electronic identification systems of Americas partner
countries.
(2) Regular penetration testing by an outside organization
certified by the Institute, to be conducted not less frequently
than once a year.
(3) Provision of a common vulnerability disclosure policy
for systems operating under the framework.
(4) Such other cyber security best practices as the
Institute considers appropriate.
(f) Enforcement.--
(1) Audits.--Each system of an Americas partner country
operating under the e-governance framework developed under
subsection (a) shall undergo annual audits by an outside
organization certified by the Institute. That audit shall
assess the compliance of the system with the privacy and
security requirements of this section and such other
requirements as the Institute considers necessary.
(2) Effect of noncompliance.--If an audit conducted under
paragraph (1) indicates that a system or systems of an Americas
partner country are substantially noncompliant with the privacy
and security requirements of this section, the Institute may--
(A) designate the system or systems as
noncompliant;
(B) recommend that other Americas partner countries
take such actions as may be necessary to protect the
privacy and security of the systems and data of those
countries; and
(C) withhold, in part or in whole, further
assistance to the country the system or systems of
which are designated as noncompliant, including
revoking privileges or access to any services or shared
infrastructure of the Institute, until such a time as
the Institute determines that the system or systems are
compliant.
(3) Allowances for noncompliance.--
(A) In general.--The Institute may certify as
partially or wholly compliant any system of an Americas
partner country if the Institute determines that the
country is making a good faith effort at compliance,
but has not fully achieved compliance with all the
requirements of this section.
(B) Elements.--A certification under subparagraph
(A) may include a certification that a system is
temporarily compliant--
(i) during--
(I) the development of the system;
(II) partial deployments of the
system; or
(III) deployments of minimum viable
products; or
(ii) if the Institute determines that
compliance with the requirements of this
section would substantially hinder the ability
of a country to effectively provide critical
services to citizens of the country and there
is no practical path to achieve compliance and
effectively provide such services.
(4) Suspension of partnership.--If the participation of a
country in a partnership agreement is suspended under section
201(d), the Institute--
(A) may terminate the provision of any services or
assistance to the country; and
(B) may take such steps as are necessary to ensure
any systems affected by the termination are
transitioned appropriately to minimize disruptions to
the citizens of that country.
(g) Multilingual Functionality.--The Institute shall ensure that
all resources necessary to develop systems compliant with the e-
governance framework developed under subsection (a) are available in
all necessary languages.
SEC. 103. ADDITIONAL DUTIES OF INSTITUTE.
(a) International Cooperation.--The Institute shall seek to promote
collaboration between Americas partner countries on the development,
standardization, and deployment of e-governance systems, including such
systems developed outside the e-governance framework developed under
section 102 and systems developed before the implementation of this
Act.
(b) Development Process.--The Institute shall be responsible for
assisting Americas partner countries in the development and deployment
of e-governance systems in compliance with the e-governance framework
developed under section 102. Such assistance may include the following:
(1) The development or adoption, in collaboration with
appropriate national and international standards organizations,
of technical standards necessary to promote the efficient
development of systems under the framework.
(2) The development of reference implementations for e-
government services, as the Institute considers appropriate.
(3) The development and maintenance of infrastructure that
may be shared by multiple services, including across multiple
Americas partner countries, as the Institute and such countries
consider appropriate.
(4) Providing technical assistance to Americas partner
countries in the development of services, which may include
entering into contracts for developing and hosting services on
behalf of such countries. Such contracts may include terms for
an Americas partner country to provide the Institute with
funding for development and hosting services.
(5) The procurement or licensing, as the Institute
considers appropriate, of commercial technology that may be
shared with Americas partner countries and used for the
delivery of services.
(6) Providing for the certification of organizations to
carry out the auditing and penetration testing required by
section 102(e).
(7) Partnering with private sector entities for the
provision, development, maintenance, or hosting of services, or
other such assistance as the Institute considers necessary.
(8) Providing financing to facilitate the development or
modernization of a system, subject to such accountability
mechanisms as the Institute considers necessary to ensure funds
are spent efficiently and appropriately.
(9) Accounting for the development of emerging
technologies, including artificial intelligence, and, to the
extent necessary, incorporating such technologies into systems
developed by or with Americas partner countries or making
recommendations for how those countries may incorporate or
regulate such technologies.
(10) Other matters as the Institute considers appropriate.
(c) Procurement Restriction.--
(1) In general.--The Institute shall ensure that no system
or product operating under the e-governance framework developed
under section 102 is involved in any contract for the
development of a service as part of the e-governance framework,
or shares any data, with an individual or entity residing in or
acting on behalf of the Russian Federation, the People's
Republic of China, Iran, North Korea, Venezuela, Cuba, or such
other countries as the Institute considers necessary to protect
the privacy and security of the citizens of Americas partner
countries.
(2) Authority to exclude other individuals, entities, and
products.--The Institute may, as the Institute considers
necessary to protect the privacy and security of the citizens
of Americas partner countries, prohibit any system described in
paragraph (1) from entering into any contract for the
development of a service as part of the e-governance framework,
or sharing any data--
(A) with an individual or entity that does not
reside in a country described in paragraph (1); or
(B) using a product not from such a country.
SEC. 104. FUNDING.
(a) Authorization of Appropriations for Institute.--There are
authorized to be appropriated $10,000,000 to establish the Institute.
(b) Additional Funding.--Such sums as may be necessary to carry out
this title shall be made available from the Re-shoring and Near-shoring
Account established under section 301.
TITLE II--TRADE AND INVESTMENT FOR THE AMERICAS
Subtitle A--Administration
SEC. 201. PARTNERSHIP AGREEMENTS.
(a) Authority To Enter Into Partnership Agreements.--
(1) In general.--The Secretary of State may enter into
partnership agreements with countries in the Western
Hemisphere, which shall serve as the gateway into accession of
additional countries to the USMCA under section 222.
(2) Inclusions.--A partnership agreement entered into under
paragraph (1) shall include protections for democracy and human
rights and anti-corruption measures consistent with the Inter-
American Democratic Charter and the International Covenant on
Civil and Political Rights.
(3) Consultations.--The Secretary shall--
(A) consult with Congress during negotiations for a
partnership agreement under paragraph (1); and
(B) notify Congress not less than 15 days before
signing the partnership agreement.
(4) Ineligible countries.--The Secretary may not enter into
a partnership agreement under paragraph (1) with a country--
(A) that is a member of the Bolivarian Alliance for
the Peoples of Our America;
(B) the government of which is listed under
subparagraph (C) of section 110(b)(1) of the
Trafficking Victims Protection Act of 2000 (22 U.S.C.
7107(b)(1)) (commonly referred to as ``tier 3'') in the
most recent report on trafficking in persons required
under such section (commonly referred to as the
``Trafficking in Persons Report''); or
(C) the government of which is not--
(i) committed to the fight against
terrorism; or
(ii) in compliance with the terms of the
Inter-American Democratic Charter of the
Organization of American States.
(b) Commitments.--A partner country shall commit to abide by the
terms of the partnership agreement entered into under subsection (a).
(c) Suspension.--
(1) In general.--The Secretary of State shall move to
suspend the participation of a country in a partnership
agreement entered into under subsection (a) at the end of the
one-year period beginning on the date on which the Secretary of
State, in coordination with the heads of other relevant
agencies and upon consultation with Congress, determines that
the country is in violation of the commitments of the country
under subsection (b) or is ineligible under subsection (a)(4),
unless the country comes into compliance with those commitments
and becomes eligible before the end of that period.
(2) Notification to the secretariat.--Upon making a
determination described in paragraph (1) with respect to a
country, the Secretary of State shall provide a notice of the
determination, to be considered at the next scheduled meeting
of the Americas Partnership Secretariat established under
section 204, along with a list of deficiencies the government
of the country could remedy to come back into compliance with
the commitments of the country under subsection (b) and to
become eligible under subsection (a)(4). The text of the notice
and the list shall be provided to--
(A) the permanent representative of the government
of the country at the Secretariat;
(B) the government of each Americas partner
country; and
(C) the Committee on Finance of the Senate and the
Committee on Ways and Means of the House of
Representatives.
(3) Visit required.--Before the Secretary of State makes a
motion under paragraph (1) with respect to a country, the
Deputy Assistant Secretary of State for the Americas
Partnership established under section 203(c)(1) shall seek a
formal visit from the Americas Partnership Secretariat to the
country to explain the reasons for the motion under paragraph
(1).
(4) Effect of suspension.--
(A) In general.--If the participation of a country
in a partnership agreement entered into under
subsection (a) is suspended under paragraph (1)--
(i) the provisions of this title and the
amendments made by this title shall not apply
with respect to the country during the period
of suspension; and
(ii) the Secretary of State shall use the
voice and vote of the United States in any
appropriate multilateral forum to pressure the
government of that country to take the actions
necessary to come into compliance with the
eligibility requirements under subsection (c).
(B) Rule of construction.--The suspension of the
participation of a country in a partnership agreement
under paragraph (1) may not be construed to affect the
relationship of that country to any country, other than
the United States, that is a party or a potential party
to the USMCA.
(d) Initial Partner Countries.--The first countries with which the
Secretary of State shall seek to enter into partnership agreements
under subsection (a) shall be countries identified under the Americas
Partnership for Economic Prosperity (APEP) executive program that are
not ineligible under subsection (a)(4).
(e) Countries Seeking Partnership Agreements.--
(1) Notification.--A country seeking to enter into a
partnership agreement under subsection (a) shall submit a
notification to the Secretary of State indicating the desire of
the country to enter into such an agreement.
(2) Response.--
(A) In general.--Not later than 180 days after
receiving a notification under paragraph (1) from a
country, the Secretary shall--
(i) make a determination with respect to
whether or not to enter into a partnership
agreement with the country; and
(ii) notify the country of the
determination.
(B) Inclusion in negative response.--If the
Secretary determines under subparagraph (A) not to
enter into a partnership agreement with a country, the
Secretary shall notify the country in writing of the
reasons for the determination and the steps the country
can take to become eligible for a partnership
agreement.
(f) Grant Program.--The Secretary of State may provide grants,
using amounts available for other grant programs of the Department of
State, to countries to assist those countries to become eligible for
partnership agreements under this section.
SEC. 202. AMERICAS PARTNERSHIP BUSINESS ADVISORY BOARD.
(a) Establishment.--The Americas Partnership Secretariat
established under section 204 shall establish a business advisory
board, which will meet periodically, on an ad hoc basis, at the
Secretariat to inform discussions on the business environments of
Americas partner countries.
(b) Composition.--The business advisory board established under
subsection (a) shall be composed of representatives of private sector
entities, civil society organizations, and labor organizations from
Americas partner countries.
(c) Advisory Topics.--The business advisory board established under
subsection (a) may provide advice to Americas partner countries through
the Secretariat on the following topics relating to the business
environment in Americas partner countries:
(1) Regulatory hurdles.
(2) Labor issues.
(3) Dispute resolution challenges.
(4) Legal hurdles to investment.
(5) Alignment on regulation related to key emerging
technologies such as artificial intelligence.
(6) Harmonization of reference price systems.
(7) Other issues affecting the business community in
Americas partner countries.
(d) Coordination.--The business advisory board established under
subsection (a) shall coordinate with the central regulatory
coordinating bodies referred to in Article 28.3 of the USMCA.
(e) Annual Report.--Not less frequently than annually, the business
advisory board established under subsection (a) shall submit to the
Secretariat a report on the business environment in Americas partner
countries, including opportunities and challenges to investment.
SEC. 203. ADMINISTRATION.
(a) Department of Commerce.--
(1) Deputy under secretary of commerce.--
(A) In general.--There shall be in the
International Trade Administration of the Department of
Commerce a Deputy Under Secretary responsible for
administration of the responsibilities of the
Department of Commerce under this title.
(B) Working group.--The Deputy Under Secretary
established under subparagraph (A) shall establish a
permanent working group, composed of representatives of
the relevant agencies, to collaborate on matters
relating to the administration of this title and the
amendments made by this title.
(2) International trade administration.--The Under
Secretary may increase the number of employees of the
International Trade Administration by the number necessary to
administer this title and the amendments made by this title.
(3) United states and foreign commercial service.--
(A) In general.--The Director General of the United
States and Foreign Commercial Service (established by
section 2301 of the Export Enhancement Act of 1988 (15
U.S.C. 4721)) may assign additional commercial attaches
to serve at the United States embassies in each
Americas partner countries to oversee coordination and
reporting under partnership agreements entered into
under section 201.
(B) Role of commercial attaches.--A commercial
attache assigned to an Americas partner country under
subparagraph (A) shall--
(i) coordinate with the Department of the
Treasury with respect to loans provided under
section 212(a) to incentivize re-shoring and
near-shoring;
(ii) be the lead officer on the country
team, under the Chief of Mission, responsible
for implementation of the partnership agreement
entered into under section 201 with that
country; and
(iii) carry out such other duties as the
Director General or the Chief of Mission may
assign for successful implementation of the
Americas program.
(4) Authorization of appropriations.--
(A) In general.--There shall be available to the
Secretary of Commerce, from the Re-shoring and Near-
shoring Account established under section 301,
$10,000,000 for each of fiscal years of 2024, 2025, and
2026 to administer this title and the amendments made
by this title.
(B) Availability of funds.--Amounts made available
pursuant to subparagraph (A) shall be available until
expended.
(b) Office of United States Trade Representative.--
(1) In general.--There shall be in the Office of the United
States Trade Representative an Assistant United States Trade
Representative for the Americas Partnership, who shall--
(A) be responsible for negotiations with respect
to--
(i) the accession of countries to the USMCA
pursuant to the mechanism developed pursuant to
section 222(b); and
(ii) designation of Americas partner
countries as CBTPA beneficiary countries (as
defined in section 213(b)(5) of the Caribbean
Basin Economic Recovery Act, as amended by
section 224);
(B) hire the staff necessary to support
negotiations described in subparagraph (A); and
(C) coordinate closely with the Under Secretary
with respect to administration of this title.
(2) Authorization of appropriations.--
(A) In general.--There shall be available to the
United States Trade Representative, from the Re-shoring
and Near-shoring Account established under section 301,
$5,000,000 for each of fiscal years of 2024, 2025, and
2026 to administer this title and the amendments made
by this title.
(B) Availability of funds.--Amounts made available
pursuant to subparagraph (A) shall be available until
expended.
(c) Department of State.--
(1) Deputy assistant secretary for the americas
partnership.--There shall be in the Bureau for Western
Hemisphere Affairs of the Department of State a Deputy
Assistant Secretary for the Americas Partnership, who--
(A) may be the United States representative to the
Americas Partnership Secretariat; and
(B) shall, in coordination with the Under
Secretary, coordinate people-to-people efforts under
this title on behalf of the Department of State.
(2) Additional civil service officers.--The Secretary of
State may hire sufficient civil service officers to fulfill the
successful management of the efforts described in paragraph
(1).
(3) Additional foreign affairs officers.--The Secretary of
State may hire additional foreign affairs officers, relative to
the number of such officers on the day before the date of the
enactment of this Act, to support the implementation of this
title.
(4) Authorization of appropriations.--
(A) In general.--There shall be available to the
Secretary of State, from the Re-shoring and Near-
shoring Account established under section 301,
$10,000,000 for each of fiscal years of 2024, 2025, and
2026 to administer this title and the amendments made
by this title.
(B) Availability of funds.--Amounts made available
pursuant to subparagraph (A) shall be available until
expended.
(d) United States Agency for International Development.--
(1) Deputy assistant administrator for the americas
partnership.--There shall be in the Bureau for Latin America
and the Caribbean of the United States Agency for International
Development a Deputy Assistant Administrator for the Americas
Partnership, who shall, in coordination with the Under
Secretary, coordinate development, humanitarian, and people-to-
people efforts under this title on behalf of the United States
Agency for International Development.
(2) Additional foreign service officers and other
employees.--The Administrator of the United States Agency for
International Development may hire additional foreign service
officers, relative to the number of such officers on the day
before the date of the enactment of this Act, to support the
implementation of this title.
(3) Authorization of appropriations.--
(A) In general.--There shall be available to the
Administrator, from the Re-shoring and Near-shoring
Account established under section 301, $10,000,000 for
each of fiscal years of 2024, 2025, and 2026 to
administer this title and the amendments made by this
title.
(B) Availability of funds.--Amounts made available
pursuant to subparagraph (A) shall be available until
expended.
(e) Other Bureaus and Offices.--The President--
(1) may establish such additional bureaus and offices as
the President considers appropriate to implement this title;
and
(2) shall ensure that a description of any such bureaus and
offices is included in the annual report required by section
205.
(f) Availability of Funds.--Amounts shall be made available to
carry out this section from the Re-shoring and Near-shoring Account
established under section 301.
SEC. 204. AMERICAS PARTNERSHIP SECRETARIAT.
(a) Establishment.--Not later than 180 day after the date of the
enactment of this Act, there shall be established in the United States
the ``Americas Partnership Secretariat'' (in this section referred to
as the ``Secretariat'').
(b) Duties.--The Secretariat shall be responsible for duties
including--
(1) coordinating diplomatic, economic, and people-to-people
efforts of the Americas partner countries under this title and
the amendments made by this title;
(2) carrying out efforts to build and advance partnerships
between city mayors and other subnational government leaders
from Americas partner countries, civil society organizations,
and private sector entities to expand subnational diplomacy;
and
(3) providing policy and technical support through
dialogue, research, and other structured engagements.
(c) Membership.--The membership of the Secretariat shall be
comprised of representatives from the governments of Americas partner
countries. Selection of such representatives shall be determined by the
governments of the Americas partner countries.
(d) Authorization of Appropriations.--
(1) In general.--There shall be available to the
Secretariat, from the Re-shoring and Near-shoring Account
established under section 301, $10,000,000 for each of fiscal
years of 2024, 2025, and 2026 to carry out the duties of the
Secretariat under this title and the amendments made by this
title.
(2) Availability of funds.--Amounts made available pursuant
to subparagraph (A) shall be available until expended.
SEC. 205. REPORT.
(a) In General.--Not later than 180 days after the date of the
enactment of this Act, and annually thereafter, the Under Secretary
shall submit to the appropriate congressional committees a report on
efforts carried out under this title.
(b) Appropriate Congressional Committees Defined.--In this section,
the term ``appropriate congressional committees'' means--
(1) the Committee on Finance and the Committee on Foreign
Relations of the Senate; and
(2) the Committee on Ways and Means and the Committee on
Foreign Affairs of the House of Representatives.
Subtitle B--Trade
CHAPTER 1--RE-SHORING AND NEAR-SHORING
SEC. 211. SENSE OF CONGRESS.
(a) In General.--It is the sense of Congress that the re-shoring
and near-shoring of industry from China into the United States is in
the national security interest of the United States and therefore falls
under the national security exceptions under article XXI of the GATT
1994.
(b) GATT 1994 Defined.--In this section, the term ``GATT 1994'' has
the meaning given that term in section 2 of the Uruguay Round
Agreements Act (19 U.S.C. 3501).
SEC. 212. INCENTIVES FOR RE-SHORING AND NEAR-SHORING OF BUSINESSES FROM
PEOPLE'S REPUBLIC OF CHINA.
(a) Loans and Grants.--
(1) Lending authority.--
(A) In general.--The Secretary may provide loans to
covered entities.
(B) Amount.--The total amount of loans that may be
provided under subparagraph (A) may not exceed
$60,000,000,000.
(C) Coverage of loans.--Loans provided to covered
entities under subparagraph (A) may be used for--
(i) the costs of moving inventory,
equipment, and supplies from the People's
Republic of China to the United States, an
Americas partner country, or another country
benefitting from a strategic supply chain
identified under section 254;
(ii) the costs of training workers in the
United States, an Americas partner country, or
a country benefitting from a strategic supply
chain identified under section 254;
(iii) the costs of constructing facilities
in the United States, an Americas partner
country, or a country benefitting from a
strategic supply chain identified under section
254;
(iv) other costs directly related to re-
shoring or near-shoring; or
(v) loans, guarantees, and other
instruments (excluding grants) approved by the
BUILD Americas Unit or the Americas Enterprise
Fund designated under section 253.
(2) Grant authority.--
(A) In general.--The Secretary of Commerce shall
administer a grant program to award grants to covered
entities.
(B) Funding.--Funding for grants under the grant
program required under subparagraph (A) shall be
derived solely from the Re-Shoring and Near-Shoring
Account established under section 301.
(3) Administration.--
(A) In the united states.--The Secretary or the
Secretary of Commerce, as the case may be, may enter
into arrangements with commercial banks, credit unions,
or other entities in the United States as identified by
the Secretary to administer loans authorized under
paragraph (1) or grants authorized under paragraph (2)
for covered entities to re-shore.
(B) Outside the united states.--The Secretary or
the Secretary of Commerce, as the case may be, may
enter into arrangements with the BUILD Americas Unit or
regional banks to administer loans authorized under
paragraph (1) or grants authorized under paragraph (2)
for covered entities to near-shore.
(C) Deposit of interest.--The Secretary shall
deposit any profits earned on interest bearing loans
authorized under paragraph (1) in the Re-Shoring and
Near-Shoring Account established under section 301.
(D) Report.--Not later than one year after the date
of the enactment of this Act, the Secretary shall
submit to Congress a report on the progress of the
arrangements entered into under this paragraph.
(4) Annual reports.--
(A) In general.--Not later than one year after the
date of the enactment of this Act, and annually
thereafter, the Board of Governors of each commercial
bank with respect to which the Secretary or the
Secretary of Commerce has entered into an arrangement
under paragraph (4) and the BUILD Americas Unit shall
submit to the Under Secretary a report on the
administration by each such entity of loans or grants
under this subsection, including--
(i) a description of the loans issued or
grants awarded;
(ii) the repayment rates for any such
loans;
(iii) an assessment of successful re-
shoring and near-shoring projects;
(iv) a description of any lessons learned;
and
(v) the balance sheets for any such loans.
(B) Transmittal to congress.--The Under Secretary
of Commerce for International Trade shall include the
information provided in reports under subparagraph (A)
in the annual report required under section 401.
(b) Duty-Free Status.--Notwithstanding any other provision of law,
covered entities approved under subsection (c) are eligible for a one-
time duty-free import of articles into the United States that are
imported for the sole and express purposes of re-shoring or near-
shoring.
(c) Process for Approval.--
(1) Notice.--An entity that seeks to re-shore or near-shore
may submit notice of the intent of the entity to re-shore or
near-shore, as the case may be, along with such paperwork as
the Secretary may consider appropriate demonstrating that
intent.
(2) Approval.--The Secretary, in consultation with the
Trade Representative, shall approve entities that have
submitted notice under paragraph (1) to re-shore or near-shore
pursuant to such procedures as the Secretary considers
appropriate.
(3) Use of contractor.--If an entity uses a contract
company for the production of goods or services in the People's
Republic of China, the approval of the entity under paragraph
(2) shall not take effect until the entity notifies the
Secretary and the Secretary confirms that a replacement
contract has been awarded in the United States or an Americas
partner country.
(d) Termination and Penalty.--
(1) In general.--Except as provided in paragraph (4), a
covered entity approved under subsection (c) to re-shore or
near-shore shall have 5 years following that approval to
complete re-shoring or near-shoring, as the case may be, of the
business of that entity, which may include the moving of
materials, personnel, and production.
(2) Termination of benefits.--Except as provided in
paragraph (4), a covered entity is not eligible for benefits
under this section on or after the date that is 5 years after
the date on which the entity is approved under subsection (d).
(3) Penalty.--Except as provided in paragraph (4), at the
end of the 5-year period under paragraph (1), a covered entity
that has not completed the re-shoring or near-shoring, as the
case may be, of the business of the entity shall owe to the
United States--
(A) the total amount of duties the entity would
have owed for imports into the United States but for
the application of subsection (b);
(B) the total amount of any other benefits accrued
to the entity under this section, as determined by the
Secretary in consultation with the Trade
Representative; and
(C) a penalty equal to 10 percent of the amounts
determined under subparagraphs (A) and (B).
(4) Extension and waiver.--If the Secretary determines that
extraordinary circumstances exist, on a case-by-case basis, the
Secretary may--
(A) extend by a period of two years the deadlines
under paragraphs (1) and (2); or
(B) waive the amounts owed under paragraph (3).
(e) Treatment of Defaults.--
(1) Judicial proceedings.--The United States shall
disregard any ruling against a covered entity or a government
of an Americas partner country that pertains to a default on
obligations in the People's Republic of China relating to re-
shoring or near-shoring activities approved under this section.
(2) International venues.--The President shall use the
voice and vote of the United States at multilateral
institutions to--
(A) oppose the consideration of defaults on
obligations in the People's Republic of China relating
to re-shoring or near-shoring activities approved under
this section when measuring credit ratings of covered
entities; and
(B) disregard sovereign debt defaults and other
similar actions when measuring credit valuations of
Americas partner countries relating to debts and
amounts received from the People's Republic of China.
(f) Findings and Sense of Congress.--
(1) Findings.--Congress makes the following findings:
(A) The United States Trade Representative stated
in a hearing that, ``The United States has repeatedly
sought and obtained commitments from China, only to
find that follow-through or real change remains
elusive.''.
(B) The Government of the People's Republic of
China continues to apply the rules only when they are
beneficial to them.
(2) Sense of congress.--It is the sense of Congress that--
(A) companies approved for re-shoring or near-
shoring by the Secretary should be protected from legal
asset forfeiture by the People's Republic of China; and
(B) covered entities and transactions by covered
entities are subject to the national security
exceptions under article XXI of the GATT 1994 (as
defined in section 2 of the Uruguay Round Agreements
Act (19 U.S.C. 3501)).
(g) Definitions.--In this section:
(1) Covered entity.--The term ``covered entity'' means an
entity that has submitted notice of the intent of the entity to
re-shore or near-shore under subsection (c)(1) and has been
approved for re-shoring or near-shoring under subsection
(c)(2).
(2) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
(3) Trade representative.--The term ``Trade
Representative'' means the United States Trade Representative.
SEC. 213. TAX CREDIT FOR QUALIFYING RE-SHORING AND NEAR-SHORING
EXPENSES.
(a) In General.--Subpart D of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 is amended by adding at the end
the following new section:
``SEC. 45BB. QUALIFYING RE-SHORING AND NEAR-SHORING EXPENSES.
``(a) In General.--For purposes of section 38, the qualifying re-
shoring and near-shoring expense credit for any taxable year is an
amount equal to the sum of--
``(1) 50 percent of the qualified re-shoring project
expenses of the taxpayer, and
``(2) 35 percent of the qualified near-shoring project
expenses of the taxpayer.
``(b) Definitions.--For purposes of this section--
``(1) Qualifying re-shoring project expenses.--
``(A) In general.--The term `qualifying re-shoring
project expenses' means any eligible expenses which
are--
``(i) made pursuant to a qualified re-
shoring project, and
``(ii) certified by the Secretary under
subsection (c) as eligible for the credit under
this section.
``(B) Qualifying re-shoring project.--The term
`qualifying re-shoring project' means a project under
which \2/3\ or more of the operations of a trade or
business of the taxpayer is moved from the People's
Republic of China to the United States.
``(2) Qualifying near-shoring project expenses.--
``(A) In general.--The term `qualifying near-
shoring project expenses' means any eligible expenses
which are--
``(i) made pursuant to a qualified near-
shoring project, and
``(ii) certified by the Secretary under
subsection (c) as eligible for the credit under
this section.
``(B) Qualifying near-shoring project.--For
purposes of this subpart, the term `qualifying near-
shoring project' means a project under which \2/3\ or
more of the operations of a trade or business of the
taxpayer is moved from the People's Republic of China
to an Americas partner country.
``(3) Eligible expenses.--The term `eligible expenses'
means any expenses paid or incurred in connection with moving
the operations of the trade or businesses.
``(4) Americas partner country.--For purposes of this
section, the term `Americas partner country' has the meaning
given such term under section 2 of the Americas Act.
``(c) Qualifying Re-Shoring and Near-Shoring Project Program.--
``(1) Establishment.--
``(A) In general.--Not later than 180 days after
the date of enactment of this section, the Secretary,
in consultation with the United States Trade
Representative, shall establish a qualifying re-shoring
and near-shoring project program to consider and award
certifications for eligible expenses among taxpayers
with qualifying re-shoring projects and qualifying
near-shoring projects.
``(B) Limitation.--
``(i) In general.--The total amount of
credits that may be allocated under the program
shall not exceed $10,000,000,000.
``(ii) Sense of congress.--It is the sense
of Congress that the limitation under clause
(i) should be increased after the date on which
the Secretary notifies the Committee on Finance
of the Senate and the Committee on Ways and
Means of the House of Representatives that 80
percent of such limitation has been allocated.
``(2) Certification.--
``(A) Application period.--Each applicant for
certification under this paragraph shall submit an
application containing such information as the
Secretary may require.
``(B) Time for making expenses.--Each applicant for
certification shall have 5 years from the date of
acceptance by the Secretary of the application to pay
or incur the eligible expenses certified under the
program.
``(3) Selection criteria.--In determining which qualifying
re-shoring projects and qualifying near-shoring projects to
certify under this section, the Secretary--
``(A) shall take into consideration--
``(i) projects which create strategic
supply chains, products, or entities (as
identified under section 254(b) of the Americas
Act) within the United States,
``(ii) projects which create strategic
supply chains, products, or entities (as so
identified) within an Americas partner country,
and
``(iii) projects which create other
industries within the United States or a
Americas partner country,
``(B) shall take into consideration which
projects--
``(i) will provide the greatest domestic
job creation (both direct and indirect),
``(ii) will create capital investment, and
``(iii) will increase manufacturing.
``(4) Disclosure of allocations.--The Secretary shall, upon
making a certification under this subsection, publicly disclose
the identity of the applicant and the amount of the credit with
respect to such applicant.
``(d) Recapture.--
``(1) In general.--If there is an applicable transaction
before the close of the 10-year period beginning with the first
day of the taxable year for which a credit is allowed under
this section, then the tax under this chapter for the taxable
year in which such transaction occurs shall be increased by the
aggregate decrease in the credits allowed under section 38 for
all prior taxable years which would have resulted solely from
reducing to zero any credit determined under subsection (a).
``(2) Exception.--Paragraph (1) shall not apply if the
applicable taxpayer demonstrates to the satisfaction of the
Secretary that the applicable transaction has been ceased or
abandoned within 45 days of a determination and notice by the
Secretary.
``(3) Applicable transaction.--The term `applicable
transaction' means, any significant transaction (as determined
by the Secretary, in coordination with the Secretary of
Commerce and the Secretary of Defense) involving the material
expansion in the People's Republic of China of the operations
of the same or similar a trade or business with respect to
which the qualifying re-shoring project or qualifying near-
shoring project relates.
``(4) Regulations and guidance.--The Secretary shall issue
such regulations or other guidance as the Secretary determines
necessary or appropriate to carry out the purposes of this
paragraph, including regulations or other guidance which
provide for requirements for recordkeeping or information
reporting for purposes of administering the requirements of
this paragraph.
``(e) Denial of Double Benefit.--
``(1) In general.--In the case of the amount of the credit
determined under this section, no deduction or credit shall be
allowed for such amount under any other provision of this
chapter.
``(2) Basis adjustment.--For purposes of this subtitle, if
a credit is allowed under this section with respect to any
property, the basis of such property shall be reduced by the
amount of the credit so allowed.
``(f) Regulations.--The Secretary shall prescribe regulations
necessary to carry out the purposes of this section.''.
(b) Credit To Be Part of General Business Credit.--Subsection (b)
of section 38 of the Internal Revenue Code of 1986 is amended by
striking ``plus'' at the end of paragraph (40), by striking the period
at the end of paragraph (41) and inserting ``, plus'', and by adding at
the end the following new paragraph:
``(42) the qualifying re-shoring and near-shoring expense
credit determined under section 45BB(a).''.
(c) Clerical Amendment.--The table of sections for subpart D of
part IV of subchapter A of chapter 1 of such Code is amended by adding
at the end the following new item:
``Sec. 45BB. Qualifying re-shoring and near-shoring expenses.''.
(d) Effective Date.--The amendments made by this section shall
apply to amounts paid or incurred in taxable years beginning after the
date of the enactment of this Act.
CHAPTER 2--FREE TRADE EXPANSION
SEC. 221. TARIFF RECIPROCITY UNDER GATT 1994.
(a) Sense of Congress.--It is the sense of Congress that--
(1) the United States has one of the lowest applied duty
rates in the world, with bound duty rates set in parity to
applied rates;
(2) in using article XXVIII of GATT 1994 to renegotiate
bound duty rates, the United States can gain flexibility in its
tariff schedules, which will provide certainty to treaty-based
tariff countries under free trade agreements and provide
maneuverability in the case of egregious behavior by other WTO
members, including the People's Republic of China; and
(3) having the lowest bound duty rates has resulted in
unsustainable trade deficits that have become an issue for the
national security of the United States.
(b) Increase of Rates and Reciprocity.--
(1) Increase of rates.--The Trade Representative shall
increase average bound duty rates to reflect reciprocal duty
rates on goods listed under the Harmonized Tariff Schedule of
the United States among WTO members.
(2) Application.--In increasing bound duty rates under
paragraph (1), the Trade Representative is not required to
raise applied duty rates.
(c) Negotiations To Increase Duties.--
(1) In general.--The Trade Representative shall commence
negotiations under article XXVIII of GATT 1994 to increase
bound duty rates on all goods.
(2) Prioritizing.--In carrying out negotiations under
paragraph (1), the Trade Representative shall--
(A) prioritize the increase of bound duty rates
on--
(i) goods entering the United States from
countries identified as bad faith actors by the
Secretary of the Treasury for exclusion of
deminimis access; and
(ii) goods entering the United States
causing significant harm to industry in the
United States, as determined by the Trade
Representative; and
(B) commit to increase rates of duties on imports
into the United States if other countries do not
decrease their rates in line with those rates in
Schedule XX, including through consideration of
national averages of duty reciprocity.
(d) Definitions.--In this section:
(1) Applied duty rate.--The term ``applied duty rate''
means the actual duty rate applied to a good.
(2) Bound duty rate.--The term ``bound duty rate'' means
the maximum duty rate that may be applied to a good.
(3) GATT 1994; schedule xx; wto member.--The terms ``GATT
1994'', ``Schedule XX'', and ``WTO member'' have the meanings
given those terms in section 2 of the Uruguay Round Agreements
Act (19 U.S.C. 3501).
(4) Trade representative.--The term ``Trade
Representative'' means the United States Trade Representative.
SEC. 222. EXPANSION OF USMCA OR ESTABLISHMENT OF OTHER REGIONAL TRADE
AGREEMENT.
(a) Sense of Congress.--It is the sense of Congress that--
(1) the USMCA represents the gold standard for trade
agreements, to which other trade agreements should aspire;
(2) the accession of additional high-standard economies to
the USMCA would represent a benefit both to the Western
Hemisphere and to the United States;
(3) the periodic review of the USMCA required in 2026
represents an opportunity to negotiate with USMCA countries to
create an adhesion mechanism for advanced economies in the
Western Hemisphere to join the USMCA;
(4) Costa Rica and Uruguay, both high-income countries as
defined by the World Bank, represent ideal candidates to pilot
an accession process for the USMCA, due to--
(A) the stated desire of those countries to join
the USMCA;
(B) the advanced state of the economies of those
countries as determined by the Organisation for
Economic Co-operation and Development; and
(C) the comparatively small nature of the
populations and economies of those countries;
(5) the United States, working closely with USMCA countries
and other free trade agreement partners in the Western
Hemisphere, should study the potential benefits of aligning
rules of origin and allowing for cumulation in strategically
selected sectors; and
(6) unless expressly stated otherwise, no Americas partner
country will be required to join the USMCA as a condition of
accepting any benefits afforded to Americas partner countries
under this Act.
(b) Development of Accession Mechanism.--
(1) In general.--The United States Trade Representative, in
conducting the periodic review of the USMCA required to be
conducted in 2026, may seek agreement with USMCA countries to
develop a mechanism for accession of additional countries to
the USMCA.
(2) Treatment of textiles and apparel goods.--
(A) Rules of origin.--For purposes of the accession
to the USMCA pursuant to the mechanism developed under
paragraph (1), the rules of origin under the USMCA for
textile and apparel goods shall not go into effect or
otherwise be applicable to textile and apparel goods of
an Americas partner country that accedes to the USMCA
during--
(i) the 15-year period following formal
accession of that country to the USMCA; and
(ii) an additional 5-year period if
determined appropriate pursuant to the study
conducted under subparagraph (B).
(B) Study on textile and apparel impact.--Not later
than 12 years after the accession of an Americas
partner country to the USMCA pursuant to the mechanism
developed under paragraph (1), the United States
International Trade Commission shall commission a study
to analyze the negative and positive impacts of that
accession on--
(i) the textile and apparel sector of the
country that joined the USMCA;
(ii) the United States textile and apparel
sector;
(iii) the textile and apparel sectors of
all countries that are Americas partner
countries at the time when the study is
commissioned; and
(iv) the textile and apparel sectors of all
six Latin American and Caribbean countries that
belonged to the Dominican Republic-Central
America-United States Free Trade Agreement as
of February 2024, referring to Costa Rica, the
Dominican Republic, El Salvador, Guatemala,
Honduras, and Nicaragua.
(c) Study.--
(1) In general.--The Secretary of the Treasury shall
conduct a study on the feasibility and advisability of
expanding the USMCA or carrying out other trade-related
approaches for--
(A) harmonization;
(B) cumulation;
(C) co-creation; and
(D) intra-regional trade, investment, and standards
harmonization.
(2) Report.--Not later than one year after the date of the
enactment of this Act, the Secretary of the Treasury shall
submit to Congress a report on the study conducted under
paragraph (1).
(d) Sense of Congress.--It is the sense of Congress that Americas
partner countries that benefit from free trade agreements with the
United States or trade preferences programs of the United States will
retain the benefits and responsibilities of those agreements until and
unless they accede to the USMCA through the process developed pursuant
to this section.
SEC. 223. AMERICAS PARTNERSHIP THRESHOLD PROGRAM.
(a) In General.--There is established within the Department of
Commerce a program to be known as the Americas Partnership Threshold
Program under which the Secretary of Commerce shall work with Americas
partner countries that express an interest in potentially acceding to
the USMCA--
(1) to prepare those countries for a possible process for
accession to the USMCA;
(2) to bring those countries up to the standards of the
USMCA; and
(3) no Americas partner country will be required to join
the USMCA as a condition of accepting benefits under this
section.
(b) Assessment.--
(1) In general.--In carrying out the program required under
subsection (a), the United States Trade Representative shall
conduct an assessment of each Americas partner country related
to the trade-related standards of each such country, which
shall include--
(A) an identification of shortcomings that would
impede accession to the USMCA; and
(B) a programmatic strategy to bring each such
country into compliance with the standards of the
USMCA.
(2) Submission of assessment.--The United States Trade
Representative shall submit any assessment conducted under
paragraph (1) to--
(A) the Deputy Under Secretary of Commerce for
International Trade and the Executive Secretariat of
the Department of Commerce; and
(B) the Committee on Finance of the Senate and the
Committee on Ways and Means of the House of
Representatives.
(c) Administration.--The Secretary of Commerce, in coordination
with the Secretary of State and the Administrator of the United States
Agency for International Development, shall implement this section
through acquisition or assistance mechanisms.
(d) Funding.--Amounts required to carry out this section shall be
derived from the Re-Shoring and Near-Shoring Account established under
section 301.
SEC. 224. EXPANSION OF BENEFICIARIES UNDER UNITED STATES-CARIBBEAN
BASIN TRADE PARTNERSHIP ACT.
(a) Sense of Congress.--It is the sense of Congress that trade
preferences under the Caribbean Basin Economic Recovery Act (19 U.S.C.
2701 et seq.) should be extended to Americas partner countries that do
not benefit from any trade preference agreement with the United States
as a stop-gap measure before accession to the USMCA or another regional
trade agreement under section 222.
(b) Expansion.--
(1) In general.--Section 213(b)(5)(B) of the Caribbean
Basin Economic Recovery Act (19 U.S.C. 2703(b)(5)(B)) is
amended--
(A) in the matter preceding clause (i)--
(i) by striking ``means any'' and inserting
``means Uruguay, Ecuador, and any''; and
(ii) by inserting ``or Americas partner
country, as defined in section 2 of the
Americas Act,'' before ``which the President'';
and
(B) in clause (i), in the matter preceding
subclause (I), by striking ``beneficiary''.
(2) Negotiation.--In negotiating any expansion to trade
preferences under the Caribbean Basin Economic Recovery Act (19
U.S.C. 2701 et seq.), the United States Trade Representative
shall exclude preferences for goods that harm producers in the
United States.
SEC. 225. EXCLUSION OF CERTAIN COUNTRIES FROM CERTAIN PREFERENTIAL
TRADE TREATMENT.
Notwithstanding any other provision of law, countries that are
members of the Bolivarian Alliance for the Peoples of Our America, as
determined by the President, are ineligible for preferential trade
treatment pursuant to--
(1) section 213(b) of the Caribbean Basin Economic Recovery
Act (19 U.S.C. 2703(b));
(2) any provision of, or amendment made by, this Act; and
(3) any free trade agreement with respect to which the
United States is a party.
SEC. 226. EXTENSION OF TRADE PROMOTION AUTHORITY TO AMERICAS PARTNER
COUNTRIES FOR PURPOSES OF EXPANSION OF USMCA.
(a) Agreements Regarding Tariff Barriers.--
(1) In general.--For purposes of advancing trade with
Americas partner countries, whenever the President determines
that one or more existing duties or other import restrictions
of an Americas partner country or the United States are unduly
burdening and restricting the foreign trade of the United
States and that the purposes, policies, priorities, and
objectives of expanding the USMCA to include that country will
be promoted thereby, the President--
(A) may enter into trade agreements with an
Americas partner country for the purposes of the
accession of that country into the USMCA; and
(B) may proclaim such modification or continuance
of any existing duty, such continuance of existing duty
free or excise treatment, or such additional duties as
the President determines to be required or appropriate
to carry out that trade agreement.
(2) Congressional approval.--The President shall seek
approval from Congress to enter into a trade agreement under
this subsection.
(b) Agreements Regarding Tariff and Nontariff Barriers.--
(1) Agreements.--
(A) In general.--Whenever the President determines
that one or more existing duties or any other import
restriction of an Americas partner country or the
United States or any other barrier to, or other
distortion of, international trade unduly burdens or
restricts the foreign trade of the United States or
adversely affects the United States economy or the
imposition of any such barrier or distortion is likely
to result in such a burden, restriction, or effect, and
that the purposes, policies, priorities, and objectives
of expanding the USMCA to include that country will be
promoted thereby, the President may enter into a trade
agreement described in subparagraph (B).
(B) Trade agreement described.--A trade agreement
described in this subparagraph is a trade agreement
with an Americas partner country or Americas partner
countries providing for--
(i) the reduction or elimination of a duty,
restriction, barrier, or other distortion; or
(ii) the prohibition of, or limitation on
the imposition of, such barrier or other
distortion.
(2) Conditions.--A trade agreement may be entered into
under this subsection only if such agreement makes progress in
meeting the objectives of the USMCA and the Caribbean Basin
Economic Recovery Act (19 U.S.C. 2701 et seq.).
(3) Bills qualifying for trade authorities procedures.--
(A) In general.--The provisions of section 151 of
the Trade Act of 1974 (19 U.S.C. 2191) apply to a bill
of either House of Congress that contains provisions
described in subparagraph (B) to the same extent as
such section 151 applies to implementing bills under
that section.
(B) Provisions described.--The provisions described
in this subparagraph are--
(i) a provision approving a trade agreement
entered into under this subsection and
approving the statement of administrative
action, if any, proposed to implement such
trade agreement; and
(ii) if changes in existing laws or new
statutory authority are required to implement
that trade agreement, only those provisions as
are strictly necessary or appropriate to
implement that trade agreement, either
repealing or amending existing laws or
providing new statutory authority.
(c) Negotiations.--
(1) In general.--The President may carry out negotiations
with Americas partner countries for purposes of entering into a
trade agreement under this section.
(2) Sectors.--Sectors included in negotiations under
paragraph (1) shall include agriculture, critical minerals,
commercial services, intellectual property rights, industrial
and capital goods, government procurement, information
technology products, environmental technology and services,
medical equipment and services, civil aircraft, digital
products and services, emerging technologies, and
infrastructure products.
(3) Consideration of negotiating objectives.--In conducting
negotiations under paragraph (1), the President shall take into
account all of the negotiating objectives set forth in section
102 of the Bipartisan Congressional Trade Priorities and
Accountability Act of 2015 (19 U.S.C. 4201).
(d) Annual Report.--Not later than 180 days after the date of the
enactment of this Act, and annually thereafter, the President shall
submit to the Committee on Finance of the Senate and the Committee on
Ways and Means of the House of Representatives a report on the
implementation of this section, including--
(1) a description of any negotiations entered into with
countries that seek to accede to the USMCA;
(2) a description of any negotiations entered into with
countries that seek to be a CBTPA beneficiary country, as
defined in section 213(b)(5) of the Caribbean Basin Economic
Recovery Act (19 U.S.C. 2703(b)(5)), as amended by section 224;
(3) a description of any trade agreements entered into
pursuant to the authority under this section; and
(4) a full list of duties and duty-free items under trade
agreements entered into pursuant to the authority under this
section.
CHAPTER 3--TEXTILE AND APPAREL
SEC. 231. TEXTILE AND APPAREL GRANT PROGRAM.
(a) In General.--The Secretary of Commerce shall establish a
program under which the Secretary shall award grants to textile or
apparel manufacturers that either have their headquarters in the United
States or in an Americas partner country or that are determined by the
Secretary to have a significant presence in an Americas partner country
to help offset the considerable financial resources needed to expand or
modernize domestic textile and apparel supply chain capacity.
(b) Use of Grant Amounts.--A textile or apparel manufacturer in
receipt of a grant awarded under this section shall use the amounts of
that grant for new facilities or equipment, to retool old equipment, or
to create or expand operations for textile and apparel production in
the United States or an Americas partner country.
(c) Administration.--In carrying out this section, the Secretary--
(1) shall permit advances of grant amounts to
manufacturers--
(A) prior to making qualifying expenditures; or
(B) as qualifying expenditures are made;
(2) shall require a manufacturer to comply with safety,
labor, and environmental standards specified by the Secretary,
in consultation with the Secretary of Labor, the Administrator
of the Environmental Protection Agency, and the Director of the
National Institute of Standards and Technology; and
(3) may scale the amount of a grant depending on
incremental employment achieved by the manufacturer.
(d) Authorization of Appropriations.--There is authorized to be
appropriated to the Secretary $105,000,000 for each of the fiscal years
2025 through 2029 to carry out the program under this section. Amounts
authorized to be appropriated under this subsection are authorized to
be obligated and expended in both the United States and in Americas
partner countries.
SEC. 232. TEXTILE REUSE AND RECYCLING PROGRAMS.
(a) Sense of Congress.--It is the sense of Congress that--
(1) textiles make up more than 10 percent of global
greenhouse gas emissions; and
(2) textiles are the single most common product made with
slave labor in the People's Republic of China.
(b) Priority Access to Grants and Loans for Textile Reuse and
Recycling.--The Secretary of the Treasury shall give priority access to
grants or loans of amounts under the Re-Shoring and Near-Shoring
Account established under section 301 for persons seeking to carry out
programs to reuse or recycle covered products.
(c) Manufacturing Support Programs.--
(1) Facilities and transport.--
(A) In general.--The Secretary of Commerce shall
establish a program under which the Secretary provides
grants and loans for the purpose of establishing new or
expanding or retrofitting existing facilities and
providing low-carbon emissions transportation for
collection, drop off or mail back, sorting, pre-
processing, reuse, or recycling of covered products.
(B) Authorization of appropriations.--There is
authorized to be appropriated $250,000,000 to carry out
the program required under subparagraph (A).
(2) Provision of components and machinery.--
(A) In general.--The Secretary of Commerce shall
establish a program under which the Secretary provides
grants and loans to entities for the provision of
components, chemicals, solvents, or machinery necessary
for the transportation, collection, mail back, sorting,
pre-processing, reuse, or recycling of covered
products.
(B) Authorization of appropriations.--There is
authorized to be appropriated $250,000,000 to carry out
the program required under subparagraph (A).
(d) Innovation Program.--
(1) In general.--The President shall carry out an
innovation program for research and development related to
textile reuse and recycling.
(2) Authorization of appropriations.--There is authorized
to be appropriated $250,000,000 to carry out the innovation
program required under paragraph (1).
(e) Public Education Program.--
(1) In general.--The President shall carry out a public
education program on the dangers of fast fashion.
(2) Authorization of appropriations.--There is authorized
to be appropriated $50,000,000 to carry out the public
education program required under paragraph (1).
(f) Recycled Certification Process.--For purposes of carrying out
this section, the President shall ensure that all recycled finished
textiles are certified under a globally recognized independent third-
party assurance process.
(g) Funding.--The Secretary of State may expend such sums as may be
necessary from the Re-shoring and Near-shoring Account established
under section 301 to carry out this section.
(h) Definitions.--In this section:
(1) Covered product.--The term ``covered product'' means--
(A) textiles that are no longer wanted by an
individual after purchase or cannot be sold by a
business through retail;
(B) recycled secondary textile raw materials and
fibers; or
(C) recycled finished textile products.
(2) Pre-processing.--The term ``pre-processing'', with
respect to a covered product, means preparing that product to
be fit for recycling, which may include detrimming or other
manual, mechanical, or chemical means.
(3) Recycle.--
(A) In general.--The term ``recycle'', with respect
to covered products, means significantly transforming
those products into new finished or unfinished goods
for use of those products in that form.
(B) Transformation.--A transformation under
subparagraph (A) can take place through the
deconstruction of a covered product for use in
manufacturing new materials out of that product,
whether through mechanical or advanced recycling
methods.
(C) Certification.--A covered product qualifies as
a recycled good for purposes of this paragraph as
certified by a globally recognized independent third-
party assurance process managed according to the waste
hierarchy for waste management developed by the United
Nations and the Environmental Protection Agency.
(4) Reuse.--The term ``reuse'', with respect to covered
products that are finished textile goods, means resale, repair,
rental, or upcycling (also known as remanufacturing) of those
goods.
(5) Sorting.--The term ``sorting'', with respect to covered
products, means manually or mechanically sorting those products
for reuse or recycling.
(6) Textile.--The term ``textile'' means apparel, footwear,
accessories, and household linens.
SEC. 233. TEXTILE PRODUCTION VERIFICATION TEAMS.
(a) In General.--The Commissioner of U.S. Customs and Border
Protection shall deploy to Americas partner countries permanent textile
production verification teams to ensure the integrity of the textile
supply chains of those countries.
(b) Visits.--
(1) Countries.--Textile production verification teams under
subsection (a) shall by deployed to an Americas partner country
not less frequently than once each year.
(2) Companies.--Textile production verification teams under
subsection (a) may not visit the same company in consecutive
visits to a country unless following up on a previous positive
determination of malfeasance.
SEC. 234. TAX BENEFITS FOR APPAREL AND HOME TEXTILE PRODUCTS.
(a) Exclusion of Income From Sales of Certain Products.--
(1) In general.--Part III of subchapter B of chapter 1 of
the Internal Revenue Code of 1986 is amended by inserting after
section 139I the following new sections:
``SEC. 139J. SALES OF FINISHED TEXTILE PRODUCTS IMPORTED FROM
QUALIFYING WESTERN HEMISPHERE COUNTRIES.
``(a) In General.--In the case of a corporation, gross income shall
not include any income from the qualifying domestic sale of qualified
finished textile products.
``(b) Qualifying Domestic Sale.--For purposes of this section--
``(1) In general.--The term `qualifying domestic sale'
means any sale or exchange within the United States.
``(2) Related persons.--
``(A) In general.--Such term shall not include any
sale to a related person.
``(B) Related person.--For purposes of subparagraph
(A), a person shall be treated as related to another
person if such persons are treated as a single employer
under subsection (a) or (b) of section 52 or subsection
(m) or (o) of section 414, except that determinations
under subsections (a) and (b) of section 52 shall be
made without regard to section 1563(b).
``(c) Qualified Finished Textile Products.--For purposes of this
section--
``(1) In general.--The term `qualified finished textile
products' means any inventory property (as defined in section
865(i)(1)) which--
``(A) is a finished textile product, and
``(B) is--
``(i) an originating good under section
202(c) of the United States-Mexico-Canada
Agreement Implementation Act (19 U.S.C. 4531),
section 203(b) of the Dominican Republic-
Central America-United States Free Trade
Agreement Implementation Act (19 U.S.C.
4033(b)), or a comparable provision of an Act
to implement a free trade agreement between the
United States and a qualifying Western
Hemisphere country, or
``(ii) an eligible article under section
213 of the Caribbean Basin Economic Recovery
Act (19 U.S.C. 2703).
``(2) Finished textile product.--The term `finished textile
product' means a product put up for retail sale that is--
``(A) classifiable under chapters 50 through 63 of
the Harmonized Tariff Schedule of the United States; or
``(B) any textile-based product contained in
chapter 39, 42, 64, 65, 66, 70, 94, or 96 of the
Harmonized Tariff Schedule of the United States.
``(3) Qualifying western hemisphere country.-- The term
`qualifying Western Hemisphere country' means any country--
``(A) which is located in the Western Hemisphere,
and
``(B) with which the United States has a free trade
agreement in effect.
``SEC. 139K. TEXTILE FIBER PRODUCTS EXPORTED TO QUALIFYING WESTERN
HEMISPHERE COUNTRIES.
``(a) In General.--In the case of a corporation, gross income shall
not include any income from the qualifying foreign sale of any
qualified textile fiber product.
``(b) Qualifying Foreign Sale.--For purposes of this section--
``(1) In general.--The term `qualifying foreign sale' means
any sale or exchange which the taxpayer establishes to the
satisfaction of the Secretary is for any use, disposition, or
consumption within a qualifying Western Hemisphere country (as
defined in section 139J).
``(2) Special rules.--For purposes of this subsection,
rules similar to the rules of subparagraphs (B)(i) and (C)(i)
of section 250(b)(5) shall apply.
``(c) Qualified Textile Fiber Product.--For purposes of this
section--
``(1) In general.--The term `qualifying textile fiber
product' means any inventory property (as defined in section
865(i)(1)) which--
``(A) is a textile fiber product; and
``(B) is--
``(i) an originating good under section
202(c) of the United States-Mexico-Canada
Agreement Implementation Act (19 U.S.C. 4531),
section 203(b) of the Dominican Republic-
Central America-United States Free Trade
Agreement Implementation Act (19 U.S.C.
4033(b)), or a comparable provision of an Act
to implement a free trade agreement between the
United States and a qualifying Western
Hemisphere country; or
``(ii) an eligible article under section
213 of the Caribbean Basin Economic Recovery
Act (19 U.S.C. 2703).
``(2) Textile fiber product.--The term `textile fiber
product' means a product put up for sale that is--
``(A) classifiable under any of chapters 50 through
63 of the Harmonized Tariff Schedule of the United
States; or
``(B) a textile-based product contained in chapter
39, 42, 64, 65, 66, 70, 94, or 96 of the Harmonized
Tariff Schedule of the United States.''.
(2) Net operating losses.--Section 172(d) of the Internal
Revenue Code of 1986 is amended by adding at the end the
following new paragraph:
``(10) Exclusions for certain textile products.--Gross
income shall be determined without regard to section 139J and
139K.''.
(3) Clerical amendment.--The table of sections for part III
of subchapter B of chapter 1 of such Code is amended by
inserting after the item relating to section 139I the following
new items:
``Sec. 139J. Sales of finished textile products imported from
qualifying Western Hemisphere countries.
``Sec. 139K. Textile fiber products exported to qualifying Western
Hemisphere countries.''.
(4) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after the date of the
enactment of this Act.
(b) Deduction for Domestic Production of Textile Fiber Products.--
(1) In general.--Part VIII of subchapter B of chapter 1 of
the Internal Revenue Code of 1986 is amended by adding at the
end the following new section:
``SEC. 251. INCOME ATTRIBUTABLE TO DOMESTIC TEXTILE PRODUCTION
ACTIVITIES.
``(a) In General.--In the case of a corporation, there shall be
allowed as a deduction an amount equal to 9 percent of the lesser of--
``(1) the qualified textile production activities income of
the taxpayer for the taxable year, or
``(2) taxable income (determined without regard to this
section) for the taxable year.
``(b) Deduction Limited to Wages Paid.--
``(1) In general.--The amount of the deduction allowable
under subsection (a) for any taxable year shall not exceed 50
percent of the W-2 wages of the taxpayer for the taxable year.
``(2) W-2 wages.--For purposes of this section--
``(A) In general.--The term `W-2 wages' means, with
respect to any person for any taxable year of such
person, the sum of the amounts described in paragraphs
(3) and (8) of section 6051(a) paid by such person with
respect to employment of employees by such person
during the calendar year ending during such taxable
year.
``(B) Limitation to wages attributable to domestic
textile production.--Such term shall not include any
amount which is not properly allocable to domestic
textile production gross receipts for purposes of
subsection (c)(1).
``(C) Return requirement.--Such term shall not
include any amount which is not properly included in a
return filed with the Social Security Administration on
or before the 60th day after the due date (including
extensions) for such return.
``(3) Acquisitions, dispositions, and short taxable
years.--The Secretary shall provide for the application of this
subsection in cases of a short taxable year or where the
taxpayer acquires, or disposes of, the major portion of a trade
or business or the major portion of a separate unit of a trade
or business during the taxable year.
``(c) Qualified Textile Production Activities Income.--For purposes
of this section--
``(1) In general.--The term `qualified textile production
activities income' for any taxable year means an amount equal
to the excess (if any) of--
``(A) the taxpayer's domestic textile production
gross receipts for such taxable year, over
``(B) the sum of--
``(i) the cost of goods sold that are
allocable to such receipts, and
``(ii) other expenses, losses, or
deductions (other than the deduction allowed
under this section), which are properly
allocable to such receipts.
``(2) Allocation method.--The Secretary shall prescribe
rules for the proper allocation of items described in paragraph
(1) for purposes of determining qualified textile production
activities income. Such rules shall provide for the proper
allocation of items whether or not such items are directly
allocable to domestic textile production gross receipts.
``(3) Special rules for determining costs.--
``(A) In general.--For purposes of determining
costs under clause (i) of paragraph (1)(B), any item or
service brought into the United States shall be treated
as acquired by purchase, and its cost shall be treated
as not less than its value immediately after it entered
the United States. A similar rule shall apply in
determining the adjusted basis of leased or rented
property where the lease or rental gives rise to
domestic textile production gross receipts.
``(B) Exports for further manufacture.--In the case
of any property described in subparagraph (A) that had
been exported by the taxpayer for further manufacture,
the increase in cost or adjusted basis under
subparagraph (A) shall not exceed the difference
between the value of the property when exported and the
value of the property when brought back into the United
States after the further manufacture.
``(4) Domestic textile production gross receipts.--
``(A) In general.--The term `domestic textile
production gross receipts' means the gross receipts of
the taxpayer which are derived from any lease, rental,
license, sale, exchange, or other disposition of
textile fiber product (as defined in section 139K)
which was manufactured, produced, or grown by the
taxpayer in whole or in significant part within the
United States.
``(B) Exception.--Such term shall not include any
gross receipts--
``(i) from the qualifying foreign sale (as
defined in section 139K) of qualifying textile
fiber products (as defined in such section), or
``(ii) from activities described in section
199B(b)(1)(A).
``(C) Special rule for certain government
contracts.--Gross receipts derived from the manufacture
or production of any property described in subparagraph
(A) shall be treated as meeting the requirements of
subparagraph (A) if--
``(i) such property is manufactured or
produced by the taxpayer pursuant to a contract
with the Federal Government, and
``(ii) the Federal Acquisition Regulation
requires that title or risk of loss with
respect to such property be transferred to the
Federal Government before the manufacture or
production of such property is complete.
``(D) Partnerships owned by expanded affiliated
groups.--For purposes of this paragraph, if all of the
interests in the capital and profits of a partnership
are owned by members of a single expanded affiliated
group at all times during the taxable year of such
partnership, the partnership and all members of such
group shall be treated as a single taxpayer during such
period.
``(5) Related persons.--
``(A) In general.--The term `domestic textile
production gross receipts' shall not include any gross
receipts of the taxpayer derived from property leased,
licensed, or rented by the taxpayer for use by any
related person.
``(B) Related person.--For purposes of subparagraph
(A), a person shall be treated as related to another
person if such persons are treated as a single employer
under subsection (a) or (b) of section 52 or subsection
(m) or (o) of section 414, except that determinations
under subsections (a) and (b) of section 52 shall be
made without regard to section 1563(b).
``(d) Definitions and Special Rules.--
``(1) Special rule for affiliated groups.--
``(A) In general.--All members of an expanded
affiliated group shall be treated as a single
corporation for purposes of this section.
``(B) Expanded affiliated group.--For purposes of
this section, the term `expanded affiliated group'
means an affiliated group as defined in section
1504(a), determined--
``(i) by substituting `more than 50
percent' for `at least 80 percent' each place
it appears, and
``(ii) without regard to paragraphs (2) and
(4) of section 1504(b).
``(C) Allocation of deduction.--Except as provided
in regulations, the deduction under subsection (a)
shall be allocated among the members of the expanded
affiliated group in proportion to each member's
respective amount (if any) of qualified textile
production activities income.
``(2) Trade or business requirement.--This section shall be
applied by only taking into account items which are
attributable to the actual conduct of a trade or business.
``(3) Unrelated business taxable income.--For purposes of
determining the tax imposed by section 511, subsection
(a)(1)(B) shall be applied by substituting `unrelated business
taxable income' for `taxable income'.
``(4) Regulations.--The Secretary shall prescribe such
regulations as are necessary to carry out the purposes of this
section, including regulations which prevent more than 1
taxpayer from being allowed a deduction under this section with
respect to any activity described in subsection (c)(4)(A).''.
(2) Conforming amendments.--
(A)(i) Section 74(d)(2)(B) of the Internal Revenue
Code of 1986 is amended by inserting ``251,'' after
``221,''.
(ii) Section 246(b)(1) of such Code is amended by
inserting ``251,'' after ``243(a)(1),''.
(iii) Section 469(i)(3)(E)(iii) of such Code is
amended by inserting ``251,'' after ``250,''.
(B) Section 170(b)(2)(D) of such Code is amended by
striking the period at the end of clause (v) and
inserting ``, and'' and by adding at the end the
following new clause:
``(vi) section 251.''.
(C) Section 172(d) of such Code, as amended by this
Act, is amended by adding at the end the following new
paragraph:
``(11) The deduction under section 251 shall not be
allowed.''.
(3) Clerical amendment.--The table of sections for part
VIII of subchapter B of chapter 1 of such Code is amended by
adding at the end the following new item:
``Sec. 251. Income attributable to domestic textile production
activities.''.
(4) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after the date of the
enactment of this Act.
(c) Deduction for Reused and Recycled Textiles.--
(1) In general.--Part VI of subchapter B of the Internal
Revenue Code of 1986 is amended by adding at the end the
following new section:
``SEC. 199B. TEXTILE REUSE AND RECYCLING ACTIVITY INCOME.
``(a) In General.--There shall be allowed a deduction equal to 15
percent of the qualified textile reuse and recycling activity income of
the taxpayer for the taxable year.
``(b) Qualified Textile Reuse and Recycling Activity Income.--For
purposes of this section--
``(1) In general.--The term `qualified textile reuse and
recycling activity income' means the excess (if any) of--
``(A) the gross income of the taxpayer derived in
the course of a trade or business from--
``(i) the resale, repair, rental, or
remanufacturing of finished textile products,
``(ii) the transformation of otherwise
unsalable textile fiber products into new
finished or unfinished goods,
``(iii) the collection of textile fiber
products,
``(iv) the sorting of finished textile
products and textile fiber products for
activities described in clause (i) or (ii), and
``(v) the preparation of textile fiber
products for activities described in clause
(ii), over
``(B) the deductions (including taxes) properly
allocable to such gross income.
``(2) Finished textile products.--The term `finished
textile products' has the meaning given such term under section
139J(c).
``(3) Textile fiber products.--The term `textile fiber
products' has the meaning given such term under section
139K(c).
``(c) Special Rules.--
``(1) Application to partnerships and s corporations.--In
the case of a partnership or S corporation--
``(A) this section shall be applied at the partner
or shareholder level, and
``(B) each partner or shareholder shall take into
account such person's allocable share of each qualified
item of income, gain, deduction, and loss.
``(2) Coordination with minimum tax.--For purposes of
determining alternative minimum taxable income under section
55, qualified textile reuse and recycling activity income shall
be determined without regard to any adjustments under sections
56 through 59.''.
(2) Coordination with deduction for qualified business
income.--Section 199A(c)(3)(B) of the Internal Revenue Code of
1986 is amended by redesignating clause (vii) as clause (viii)
and by inserting after clause (vi) the following new clause:
``(vii) Any item of income, gain,
deduction, or loss taken into account under
section 199B(b)(1).''.
(3) Conforming amendments.--
(A)(i) Section 74(d)(2)(B) of the Internal Revenue
Code of 1986 is amended by inserting ``199B,'' after
``137,''.
(ii) Section 86(b)(2)(A) of such Code is amended by
inserting ``199B,'' after ``137,''.
(iii) Section 135(c)(4)(A) of such Code is amended
by inserting ``199B,'' after ``137,''.
(iv) Section 137(b)(3)(A) of such Code is amended
by inserting ``199B,'' before ``221,''.
(v) Section 219(g)(3)(A)(ii) of such Code is
amended by inserting ``199B,'' after ``137,''.
(vi) Section 221(b)(2)(C)(i) of such Code is
amended by inserting ``199B,'' before ``911,''.
(vii) Section 246(b)(1) of such Code is amended by
inserting ``199B,'' after ``199A,''.
(viii) Section 469(i)(3)(E)(iii) of such Code is
amended by inserting ``199B,'' before ``219,''.
(B) Section 170(b)(2)(D) of such Code, as amended
by subsection (b), is amended by striking the period at
the end of clause (vi) and inserting ``, and'' and by
adding at the end the following new clause:
``(vii) section 199B.''.
(C) Section 172(d) of such Code, as amended by
subsection (b), is amended by adding at the end the
following new paragraph:
``(12) The deduction under section 199B shall not be
allowed.''.
(4) Clerical amendment.--The table of sections for part VI
of subchapter B of chapter 1 of such Code is amended by adding
at the end the following new item:
``Sec. 199B. Textile reuse and recycling activity income.''.
(5) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after the date of the
enactment of this Act.
CHAPTER 4--TRADE ENFORCEMENT
SEC. 241. ESTABLISHMENT OF SPECIAL ENFORCEMENT UNIT OF U.S. CUSTOMS AND
BORDER PROTECTION TO MONITOR THE IMPLEMENTATION OF UYGHUR
FORCED LABOR PREVENTION ACT.
(a) Establishment.--There is established in the Office of
International Affairs of U.S. Customs and Border Protection a special
enforcement unit tasked with monitoring the implementation by the
United States of the Act entitled ``An Act to ensure that goods made
with forced labor in the Xinjiang Autonomous Region of the People's
Republic of China do not enter the United States market, and for other
purposes'', approved December 23, 2021 (Public Law 117-78; 135 Stat.
1525) (commonly referred to as the ``Uyghur Forced Labor Prevention
Act'').
(b) Coordination.--The special enforcement unit established under
subsection (a) shall coordinate with the trade remedy law enforcement
unit of U.S. Customs and Border Protection.
(c) Staff.--
(1) Agents.--The special enforcement unit established under
subsection (a) may deploy agents as necessary for the effective
functioning of the unit.
(2) Positions at embassies.--The special enforcement unit
established under subsection (a) may deploy permanent NSDD-38
positions stationed at each embassy of the United States in an
Americas partner country for the coordination of the efforts of
the unit.
SEC. 242. AUTHORIZATION OF PAYMENTS TO WHISTLEBLOWERS RELATING TO MONEY
LAUNDERING OR ILLICIT FINANCIAL TRANSACTIONS.
The Executive Associate Director of Homeland Security
Investigations may pay to whistleblowers who disclose to the Secretary
of Homeland Security any violations of laws prohibiting money
laundering or illicit financial transactions an amount not to exceed 30
percent of the value of any assets seized in connection with such
violations.
SEC. 243. ESTABLISHMENT OF BORDERS AND PORTS PROTECTION PROGRAM.
(a) In General.--The Commissioner, in consultation with the
Secretary of State, the Secretary of Homeland Security, and the heads
of such other Federal agencies as the President considers appropriate,
shall establish a program to be known as the Borders and Ports
Protection Program (referred to in this section as the ``Program'').
(b) Borders and Ports Protection Unit.--
(1) In general.--Under the Program, the Commissioner shall
assist Americas partner countries that are seeking to join the
Program and are selected by the Commissioner in the
establishment of a borders and ports protection unit.
(2) Consultation with congress.--In selecting Americas
partner countries under paragraph (1), the Commissioner shall
consult with Congress.
(3) Consent requirement.--The Commissioner shall not
provide the support of a border and ports protection unit to an
Americas partner country without first receiving express
consent from the government of that Americas partner country.
(c) Elements of Program.--In carrying out the Program, the
Commissioner may support the efforts of customs administrations and
border security agencies of Americas partner countries selected under
subsection (b) to create a borders and ports protection unit composed
of a sufficient number of officers, including officers of the United
States and officers of the Americas partner country, as identified by
the Commissioner, who will--
(1) report to the local customs administrations and border
security agencies in that country;
(2) be responsible for surge support and physical
protection of borders, ports, strategic depots, hubs, and key
commodities, such as basic foodstuffs, gasoline, diesel, and
other strategic goods, in that country;
(3) under the authority of officials in that country, carry
out non-investigative customs functions, such as--
(A) ensuring the effective continuity of port
operations;
(B) facilitating legitimate trade and commerce; and
(C) detecting and interdicting customs violations,
such as illicit smuggling of contraband;
(4) when cross-border violations of law are identified,
notify and coordinate directly with customs and other law
enforcement and security agencies in that country that are
responsible for conducting investigations of illicit cross-
border smuggling offenses;
(5) refer cross-border violations of law to the
Transnational Criminal Investigative Units of Homeland Security
Investigations; and
(6) carry out any other duties identified by the
Commissioner.
(d) Transnational Criminal Investigative Units.--The Secretary of
Homeland Security, acting through the Executive Associate Director of
Homeland Security Investigations, may establish Transnational Criminal
Investigative Units within an Americas partner country upon receiving
express consent from the government of that Americas partner country.
(e) Training and Equipment.--To the extent authorized under
existing provisions of law, the Commissioner may provide to an Americas
partner country selected under subsection (b) training, oversight,
equipment, and remuneration from U.S. Customs and Border Protection for
the purposes specified in subsection (c) to provide lethal and non-
lethal assistance, such as training and equipment, including personal
protective equipment, armored vehicles, and weapons, to entities that
are--
(1) identified by the local customs offices in that
country;
(2) coordinated and deconflicted through the law
enforcement working group of the United States Embassy in that
country; and
(3) approved by the Commissioner.
(f) Management.--
(1) In general.--Under the Program, the Commissioner, in
coordination with the Secretary of State and the Secretary of
Homeland Security, shall--
(A) deploy officers of U.S. Customs and Border
Protection to each Americas partner country selected
under subsection (b), who shall--
(i) report to the chief of mission;
(ii) monitor the activities, on behalf of
the Department of Homeland Security, of the
borders and ports protection unit of that
country;
(iii) coordinate activities with--
(I) the law enforcement working
group of the United States Embassy in
that country;
(II) the attache of Homeland
Security Investigations covering that
country; and
(III) the Transnational Criminal
Investigative Unit for that country;
(iv) coordinate and deconflict all training
and equipment requests with the law enforcement
working group of the United States Embassy in
that country and the attache of Homeland
Security Investigations covering that country;
and
(v) ensure that all cross-border violations
of law are referred for investigation to the
Transnational Criminal Investigative Unit for
that country; and
(B) hire a defense contractor that has completed
all registrations and clearances required by the United
States Government to deploy a team of armed experts to
assist in the recruitment, vetting, and training of
agents of the borders and ports protection unit of that
country.
(2) Hiring of agents.--When possible, the Secretary shall
hire agents for the borders and ports protection unit of an
Americas partner country selected under subsection (b) from
among agents of the security services of that country.
(g) Security Issues.--The Secretary of State shall enhance the
security of borders and ports protection units established under this
section by following the model of the Special Program for Embassy
Augmentation Response (SPEAR) used by the Diplomatic Security Service
to protect embassies of the United States and other facilities in high-
threat environments.
(h) Remuneration.--Under the Program, the Secretary of State,
working through the contractor hired pursuant to subsection (f)(1)(B),
shall provide appropriate remuneration for agents of borders and ports
protection units, including--
(1) wages based on appropriate pay scales of the United
Nations; and
(2) a life insurance policy.
(i) Designation of Units in Non-Americas Partner Countries.--
(1) In general.--Notwithstanding any other provision of
law, except as provided in paragraph (2), the President may
designate a borders and ports protection unit under the Program
in a country that is not an Americas partner country selected
under subsection (b) if the President--
(A) determines that it is in the national security
interest of the United States to do so; and
(B) receives the express consent of the government
of that country.
(2) Exception.--The President may not designate a borders
and ports protection unit under the Program in a country that
is a member of the Bolivarian Alliance for the Peoples of Our
America.
(j) Report.--Not later than 90 days after the date of the enactment
of this Act, and annually thereafter, the Secretary of State shall
submit to the Committee on Finance and the Committee on Homeland
Security and Governmental Affairs of the Senate and the Committee on
Ways and Means of the House of Representatives a report on the Program.
(k) Commissioner Defined.--In this section, the term
``Commissioner'' means the Commissioner of U.S. Customs and Border
Protection.
SEC. 244. ESTABLISHMENT OF MUTUAL RECOGNITION AGREEMENTS AND TRADE
TRANSPARENCY UNITS.
(a) In General.--If not already in place with respect to an
Americas partner country, not later than one year after entering into a
partnership agreement pursuant to section 201 with that country, the
Commissioner shall establish a mutual recognition agreement and a trade
transparency unit with the customs administration of that country as
part of the ongoing Customs and Trade Partnership Against Terrorism
program of U.S. Customs and Border Protection.
(b) Process.--Immediately upon the date of the enactment of this
Act, the Commissioner shall begin an expedited process of establishing
mutual recognition agreements and trade transparency units between the
United States and customs offices of Americas partner countries.
(c) Interoperability of Agreements.--The Commissioner, in
consultation with the Secretary of Commerce, shall ensure that data
sharing conducted under a mutual recognition agreement established
under this section is interoperable with the e-governance system
established under title I.
(d) Harmonization of Data Collected Under Agreements.--In
coordination with the Americas Partnership Business Advisory Board
established under section 202, trade and customs bodies shall harmonize
collected data under mutual recognition agreements entered into under
this section, including data related to the following:
(1) Weight.
(2) Quantity.
(3) Value.
(4) Elements necessary for imports and exports.
(5) Common identifiers matching imports and exports.
(e) Definitions.--In this section:
(1) Commissioner.--The term ``Commissioner'' means the
Commissioner of U.S. Customs and Border Protection.
(2) Mutual recognition agreement.--The term ``mutual
recognition agreement'' means a document of arrangement between
U.S. Customs and Border Protection and a customs administration
of a foreign country that provides the platform for the
exchange of membership information and recognizes the
compatibility of the respective supply chain security programs
of that country and the United States.
CHAPTER 5--MEDICAL EQUIPMENT AND SUPPLIES GRANT PROGRAM
SEC. 245. MEDICAL EQUIPMENT AND SUPPLIES GRANT PROGRAM.
(a) In General.--The Secretary of Commerce shall establish a
program under which the Secretary shall award grants to manufacturers
of medical equipment, medical devices, and medical supplies that are
either headquartered in the United States or in an Americas partner
country, or that are determined by the Secretary to have a significant
presence in an Americas partner country, to assist the continued
expansion of, and promote job growth within, this key economic sector
for the Hemisphere.
(b) Use of Grant Amounts.--A medical equipment, medical device, or
medical supply manufacturer in receipt of a grant awarded under this
section shall use the amounts of that grant for new facilities or
equipment, to retool old equipment, or to create or expand operations
for medical equipment, medical device, or medical supply production in
the United States or in an Americas partner country.
(c) Administration.--In carrying out this section, the Secretary--
(1) shall permit advances of grant amounts to
manufacturers--
(A) prior to making qualifying expenditures; or
(B) as qualifying expenditures are made; and
(2) shall require a manufacturer to comply with safety,
labor, health, and environmental standards specified by the
Secretary, in consultation with the Secretary of Labor, the
Secretary of Health and Human Services, the Administrator of
the Environmental Protection Agency, and the Director of the
National Institute of Standards and Technology; and
(3) may scale the amount of a grant depending on
incremental employment achieved by the manufacturer.
(d) Definition of Medical Equipment, Medical Devices, and Medical
Supplies.--In this section, the terms ``medical equipment, medical
devices, and medical supplies'' means--
(1) for goods manufactured in Americas partner countries,
goods within one of the following statistical reporting numbers
utilized in the Harmonized Tariff Schedule of the United
States:
(A) 9018.90.8000, classified as ``other instruments
and appliances used in medical, surgical, dental, or
veterinary sciences'';
(B) 9018.39.0040, classified as ``bougies, drains,
and sondes, and parts and accessories'';
(C) 9018.19.9560, classified as ``parts and
accessories for electro-diagnostic apparatus, for use
in medical, surgical, dental or veterinary science'';
(D) 9018.90.6000, classified as ``electro-surgical
instruments and appliances and parts and accessories'';
(E) 9018.90.7580, classified as ``electro-medical
instruments and appliances and parts and accessories'';
(F) 9021.39.0000, classified as ``other artificial
parts of the body and parts and accessories'';
(G) 9018.39.0050, classified as ``cannulae and the
like and parts and accessories)''; or
(H) any other statistical reporting number
contained within the Harmonized Tariff Schedule (19
U.S.C. 1202) that refers to a type of medical
equipment, medical device, or medical supply that is
produced within an Americas partner country and helps
secure America's medical supply chain, as determined by
the Secretary; and
(2) for goods manufactured in the United States, goods
within each of the ``Schedule B'' export classifications codes
maintained by the United States Census Bureau that are the
equivalent of the products described in paragraph (1), as
determined by the Secretary.
(e) Authorization of Appropriations.--There is authorized to be
appropriated to the Secretary of Commerce $105,000,000 for each of the
fiscal years 2025 through 2029 to carry out the program under this
section. Amounts authorized to be appropriated under this subsection
are authorized to be obligated and expended in both the United States
and in Americas partner countries.
Subtitle C--Investment
SEC. 251. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) Americas partner countries need significant investment
in infrastructure and trade ecosystems to compete in the 21st
century;
(2) slave-based subsidized trade in the People's Republic
of China takes advantage of such need, abusing the principles
of free trade to advance the national security interests of the
People's Republic of China and predate upon other countries;
(3) environmental degradation by the People's Republic of
China, especially through dirty, coal-produced electricity,
gives products manufactured in the People's Republic of China
an unfair advantage over products manufactured in countries
with internationally accepted environmental standards;
(4) theft of intellectual property rights, World Trade
Organization violations, and other abuses by the People's
Republic of China make competition with the Government of the
People's Republic of China and state-owned entities unbalanced;
(5) a trade-based response to the trade behavior of the
People's Republic of China, which uses corruption and perverse
incentives, must include investment incentives, retaliatory
tariffs, fixing the de minimis trade loophole found in section
321 of the Tariff Act of 1930 (19 U.S.C. 1321), which is
effectively a free trade agreement with the Chinese Communist
Party, and other offsets to catalyze movement of supply chains
and productivity back to the Western Hemisphere; and
(6) promoting development and challenging the People's
Republic of China will require flexibility, responsiveness,
creativity, and risk-taking, which are the ethos of the
investment corporation.
SEC. 252. BUILD AMERICAS UNIT.
Title I of the BUILD Act of 2018 (22 U.S.C. 9611 et seq.) is
amended by adding at the end the following new section:
``SEC. 1416. BUILD AMERICAS UNIT.
``(a) Establishment.--There is established in the Corporation a
BUILD Americas Unit (in this division referred to as the `Unit').
``(b) Purpose.--The purposes of the Unit are as follows:
``(1) To advance the interests of the United States
Government.
``(2) To near-shore industries from the People's Republic
of China.
``(3) To support the development of large scale
infrastructure ecosystems for the purposes of rapid
industrialization of the Western Hemisphere.
``(4) To support the relocation of strategic supply chains
(as that term is defined in section 254 of the Americas Act).
``(c) Countries of Operation.--The Unit shall operate in all
Americas partner countries (as that term is defined in section 2 of the
Americas Act), without regard to the income limitations described in
section 1412(c)(2).
``(d) Funding.--Such sums as may be necessary to carry out this
section shall be made available from the Re-shoring and Near-shoring
Account established under section 301 and the amounts authorized under
section 212(a)(2) of the Americas Act.
``(e) Deputy Chief Executive Officer.--
``(1) Appointment.--There shall be in the Unit, a Deputy
Chief Executive Officer for the Americas (in this section
referred to as the `Deputy Chief') , who shall be appointed by
the President, by and with the advice and consent of the
Senate, and who shall report to the Deputy Under Secretary of
Commerce for the Americas Partnership.
``(2) Compensation.--The Deputy Chief shall be compensated
at a rate equivalent to level I of the Executive Schedule under
section 5312 of title 5, United States Code.
``(f) Personnel Management Authority.--
``(1) Staffing.--
``(A) In general.--Without regard to any provision
of title 5, United States Code, governing the
appointment of employees in the civil service, the
Deputy Chief may appoint--
``(i) such individuals as necessary to
provide not fewer than 2 staff members from the
Unit to each Americas partner country;
``(ii) such individuals as necessary to
serve as program managers under this section;
and
``(iii) such other individuals as may be
necessary to enable the Unit to perform its
duties.
``(B) Program manager qualifications.--Individuals
appointed as program managers under subparagraph
(A)(ii) shall have--
``(i) demonstrated experience and expertise
in securities in the private sector;
``(ii) an appropriate securities license,
as determined by the Deputy Chief; and
``(iii) held the position of investment
banker as commonly understood for hiring at
private entities.
``(2) Compensation.--Notwithstanding any provision of title
5, United States Code, governing the rates of pay or
classification of employees in the executive branch, the Deputy
Chief may prescribe the rates of basic pay for program managers
appointed under paragraph (1)(A)(ii) at a rate not in excess of
a rate equal to 150 percent of the maximum rate of basic pay
authorized for positions at level I of the Executive Schedule
under section 5312 of title 5, United States Code.
``(3) Evaluations of program managers.--
``(A) In general.--The Deputy Administrator for
Programs shall establish criteria to evaluate the
effectiveness of program managers, which shall include
measuring the economic success of portfolio instruments
approved by program managers.
``(B) Dismissal.--Upon the determination that a
program manager fails to meet the criteria described in
subparagraph (A), the Deputy Administrator for Programs
may recommend the dismissal of such program manager,
who may be dismissed at the discretion of the Chief
Administrator.
``(4) Limitation on term of appointment.--
``(A) In general.--Except as provided in
subparagraph (B), the service of a program manager
appointed under paragraph (1)(A)(ii) may not exceed 5
years.
``(B) Extension.--The Deputy Chief may, in the case
of a particular program manager appointed under
paragraph (1)(A)(ii), extend the period to which
service is limited under subparagraph (A) by up to 2
years if the Deputy Chief determines that such action
is necessary to promote the efficiency of the Unit, as
applicable.
``(g) Authorities Relating to Provision of Support.--
``(1) In general.--The authorities in this subsection shall
only be exercised to--
``(A) carry out of the policy of the United States
in section 251 of the Americas Act and the purposes of
the Unit in subsection (b);
``(B) mitigate risks to United States taxpayers by
sharing risks with the private sector and qualifying
sovereign entities through co-financing and structuring
of tools; and
``(C) ensure that support provided under this
section is additional to private sector resources by
mobilizing private capital that would otherwise not be
deployed without such support.
``(2) Considerations.--In exercising the authorities in
this subsection, the Unit--
``(A) shall consider--
``(i) whether an activity will maximize the
profits of the entity receiving support under
this subsection;
``(ii) the potential return on investment
of an activity;
``(iii) the sustainability of the economic
model of the entity receiving support under
this subsection;
``(iv) any secondary economic impact of the
activity and whether such impact will spur
additional clusters of investment;
``(v) whether taxation can be used to
generate revenue for public entities receiving
support under this subsection; and
``(vi) the feasibility of economic success
for the entity receiving support under this
subsection; and
``(B) may not consider external factors that will
not impact the economic success of an activity.
``(3) Grants.--
``(A) In general.--The Unit may award grants to
United States businesses and entities and governments
in Americas partner countries under such terms and
conditions as the Unit shall prescribe to carry out the
purposes of the Americas Act.
``(B) Application requirement.--A grant under this
paragraph may be made only to a United States business,
a for profit or not-for profit entity registered in an
Americas partner country, or a government of such a
country (including a local government) that submits to
the Unit an application at such time, in such manner,
and containing or accompanied by such information as
the Unit may reasonably require.
``(C) Priority.--In approving applications under
this paragraph, the Unit shall give priority to
applications that demonstrate the development of a
private sector activity that will advance the economic
objectives of the Unit described in subsection (b).
``(D) Approval limits.--Under this paragraph--
``(i) program managers may approve grants
of not more than $4,999,999;
``(ii) the Deputy Chief may approve grants
of not less than $5,000,000 and not more than
$49,999,999; and
``(iii) the Deputy Assistant Secretary for
the Americas Partnership may approve grants of
not less than $50,000,000.
``(E) Reporting.--
``(i) In general.--The Unit shall--
``(I) use the e-governance
framework established under title I for
management of and reporting on grants;
and
``(II) protect all restricted
personal information (as that term is
defined in section 119 of title 18,
United States Code) collected under
clause (ii).
``(ii) Collection of information.--The
Corporation shall carry out clause (i) by
collecting information with respect to each
such grant, including--
``(I) the beneficiary of the grant;
``(II) the amount;
``(III) the location of activities
funded by the grant;
``(IV) a description of the
activities funded by the grant;
``(V) a justification for approving
the grant;
``(VI) the amount of funds provided
for an activity by the beneficiary of
the grant;
``(VII) a description of any other
financial support from the Unit;
``(VIII) a description of how
awarding the grant is anticipated to
combat the influence of the People's
Republic of China in the Western
Hemisphere; and
``(IX) a description of how the
grant overlaps with any other financial
support provided by persons other than
the Unit.
``(4) Loans and guaranties.--
``(A) In general.--The Unit may make loans or
guaranties in accordance with the guidelines in
subparagraph (B) and upon such other terms and
conditions as the Deputy Assistant Secretary for the
Americas Partnership may determine.
``(B) Guidelines for the issuance of loans.--
``(i) Approval limits.--Under this
paragraph--
``(I) program managers may approve
loans and guaranties of not more than
$4,999,999;
``(II) the Deputy Chief may approve
loans and guaranties of not less than
$5,000,000 and not more than
$49,999,999; and
``(III) the Deputy Assistant
Secretary for the Americas Partnership
may approve loans and guaranties of not
less than $50,000,000.
``(ii) Loan availability.--
``(I) In general.--Any loan made or
guaranteed under this paragraph may be
issued to--
``(aa) a United States
business;
``(bb) a for-profit entity
in an Americas partner country;
or
``(cc) a government of an
Americas partner country
(including a local government).
``(II) Exception.--Notwithstanding
subclause (I), a loan may be made or
guaranteed by the Unit to a country
that is not an Americas partner country
if the purpose of the loan is to
support near-shoring of strategic
supply chains under section 254 of the
Americas Act.
``(III) Lines of credit.--The Unit
may provide a line of credit of not
more than $50,000,000 to a United
States business that meets such
requirements as the Deputy Assistant
Secretary for the Americas Partnership
may determine.
``(iii) Interest rates.--
``(I) In general.--A loan made or
guaranteed under this paragraph may
bear an interest rate lower than the
rate for an equivalent loan available
in the local market.
``(II) Variable interest rates.--
For each loan made or guaranteed under
this paragraph, the Secretary of the
Treasury shall make available to the
Unit, at a variable interest rate that
is not less than zero percent, funds
from the amounts authorized under
section 212(a)(2) of the Americas Act.
``(III) Deposits to treasury.--For
each direct loan made by the Unit to a
covered entity, the Unit shall remit--
``(aa) any repayment on the
principal amount, including the
final repayment and liquidation
of the loan, and any amount of
interest required by the
Secretary of the Treasury in
accordance with subclause (II)
to the Secretary of the
Treasury, who shall use such
amounts to replenish the
amounts authorized under
section 212(a)(2) of the
Americas Act; and
``(bb) any profit made from
interest above the amount
required by rate of interest
established by the Secretary of
the Treasury under subclause
(II) to the Secretary of the
Treasury, who shall deposit
such amounts into the Re-
shoring and Near-shoring
Account established under
section 301 of the Americas
Act.
``(iv) Denomination.--Loans and guaranties
made under this paragraph may be denominated
and repayable in United States dollars or
foreign currencies. Foreign currency
denominated loans and guaranties should only be
provided if the Deputy Assistant Secretary for
the Americas Partnership determines there is a
substantive policy rationale for such loans and
guaranties.
``(v) Guaranties by treasury.--
``(I) In general.--For any loan
under this paragraph, the Unit shall
hold in an escrow account funds in an
amount that is equal to 5 percent of
the principal amount of the loan for
the life of the loan or until the loan
has been repaid.
``(II) Source of funds.--The funds
described in subclause (I) shall be
taken from the Re-shoring and Near-
shoring Account established under
section 301 of the Americas Act.
``(vi) Applicability of federal credit
reform act of 1990.--Loans and guaranties
issued under paragraph (1) shall be subject to
the requirements of the Federal Credit Reform
Act of 1990 (2 U.S.C. 661 et seq.).
``(5) Equity investments.--
``(A) Sense of congress.--It is the sense of
Congress that--
``(i) equity is essential, particularly
with respect to transformational technology in
the energy and technology sectors; and
``(ii) firms engaged in complex, advanced
manufacturing production require greater
capital and more time than nonproduction firms.
``(B) In general.--The Unit may, as an investor,
support projects with funds or use other mechanisms for
the purpose of purchasing, and may make and fund
commitments to purchase, invest in, make pledges in
respect of, or otherwise acquire, equity or quasi-
equity securities or shares or financial interests of
any entity, including as a limited partner or other
investor in investment funds, upon such terms and
conditions as the Unit may determine.
``(C) Funding.--
``(i) In general.--For the purpose of
investments under subparagraph (B), the Unit
shall use the amounts authorized under section
212(a)(2) of the Americas Act.
``(ii) Escrow.--For any investment under
this paragraph, the Unit shall hold in an
escrow account funds, which shall be taken from
the Re-shoring and Near-shoring Account
established under section 301 of the Americas
Act, in an amount that is equal to 5 percent of
the amount of funds invested.
``(iii) Liquidation.--Upon liquidation of
any investment, the unit shall remit--
``(I) the principal amount and any
amount of interest required by the
Secretary for the use of such principal
amount of such investment to the
Secretary of the Treasury who shall use
such amounts to replenish the amounts
authorized under section 212(a)(2) of
the Americas Act; and
``(II) any profit gained from and
the amount held in escrow in accordance
with clause (ii) for such investment to
the Secretary of the Treasury who shall
deposit such funds in the Re-Shoring
and Near-Shoring Account established
under section 301 of that Act.
``(D) Limitations on equity investments.--
``(i) Contributions by partners.--Any
investment made by the Unit under this
paragraph shall be accompanied by an investment
of not less than 51 percent by the United
States business or entity or government of an
Americas partner country.
``(ii) Per project limit.--The aggregate
amount of equity investment by the Unit with
respect to any project shall not exceed 49
percent.
``(6) Joint investment partnerships.--
``(A) In general.--The Unit may enter into joint
investment partnerships with international financial
institutions or other similar institutions, including
the World Bank and the Andean Development Corporation-
Development Bank of Latin America.
``(B) Limitation.--Notwithstanding subparagraph
(A), the Unit may not enter into any partnership with
any person, including any financial institution,
business, organization, or individual, that is
headquartered in, has a principal place of business in,
or is otherwise directly or indirectly owned or
controlled by of the government of the Russian
Federation, the People's Republic of China, or any
member country of the Bolivarian Alliance for the
Peoples of Our America (ALBA).
``(C) International financial institutions
defined.--In this paragraph, the term `international
financial institutions' has the meaning given that term
in section 1701(c)(2) of the International Financial
Institutions Act (22 U.S.C. 262r(c)(2)).
``(7) Insurance and reinsurance.--
``(A) In general.--In order to ensure the
protection of the investments of United States
businesses, in whole or in part, against any political
risks, such as currency inconvertibility and transfer
restrictions, expropriation, war, terrorism, civil
disturbance, breach of contract, and nonhonoring of
financial obligations, the Unit may issue to United
States businesses that invest in Americas partner
countries insurance or reinsurance--
``(i) upon such terms and conditions as the
Unit may determine; and
``(ii) at 100 percent of the value of the
insured investment.
``(B) Escrow.--For any insurance or reinsurance
described in subparagraph (A), the Unit shall hold in
an escrow account at a commercial bank funds, which
shall be taken from the Re-shoring and Near-shoring
Account established under section 301 of the Americas
Act, in an amount that is equal to 5 percent of the
insurance amount.
``(C) Rates.--Any insurance or reinsurance
described in subparagraph (A) may be issued at a lower
rate than the lowest available rate for equivalent
insurance or reinsurance in the local market.''.
SEC. 253. AMERICAS PARTNERSHIP ENTERPRISE FUND.
(a) Designation.--The President, after consultation with the
Speaker of the House of Representatives, the minority leader of the
House of Representatives, the majority leader of the Senate, the
minority leader of the Senate, the Secretary of State, the Secretary of
Commerce, the Secretary of the Treasury, and the Administrator of the
United States Agency for International Development, may designate a
private, nonprofit organization registered in an Americas partner
country that is established to carry out the purposes set forth in
subsection (b) as the ``Americas Partnership Enterprise Fund''
(referred to in this section as the ``Fund'').
(b) Purposes.--The purposes of the Fund are--
(1) to support the development of ecosystems for critical
supply chains in the Americas partner countries;
(2) to support the development of private sector responses
to migration;
(3) to promote near-shoring strategic industry and supply
chains from the People's Republic of China; and
(4) to support policies and practices conducive to private
sector development in Americas partner countries through loans,
grants, equity investments, feasibility studies, technical
assistance, training, insurance, guarantees, and other
measures.
(c) Governance.--
(1) Board of directors.--
(A) In general.--The Fund shall be governed by a
Board of Directors, consisting of 3, 4, or 5
individuals described in subparagraph (C).
(B) Appointments.--Not later than 90 days after the
date of the enactment of this Act, the President
shall--
(i) appoint the initial members of the
Board of Directors, subject to the advice and
consent of the Senate; and
(ii) submit the names of such appointees to
the Chair and Ranking Member of the
Subcommittee on International Trade, Customs,
and Global Competitiveness of the Committee on
Finance of the Senate.
(C) Qualifications.--Each member of the Board of
Directors--
(i) shall be a citizen of an Americas
partner country;
(ii) may not be closely affiliated with any
government, civil society organization,
academic institution, think tank, or any other
not-for-profit entity; and
(iii) shall have demonstrated experience
and expertise in the areas of private sector
development in which the Fund is to be
involved.
(D) Term.--Each member of the Board of Directors
shall serve for a term of 5 years.
(E) Chairperson.--At its first meeting, the Board
of Directors shall elect a Chairperson, who may only
serve in such position for a single term.
(F) Meetings.--The Board of Directors shall meet
not less frequently than quarterly.
(G) Appointment of executive director.--The Board
of Directors shall unanimously appoint a qualified
individual to serve as Executive Director of the Fund.
The Executive Director shall be compensated at a rate
equivalent to level V of the Executive Schedule under
section 5316 of title 5, United States Code.
(H) Vacancies.--If a vacancy occurs before the
expiration of the term of a member of the Board of
Directors, the President shall appoint an individual
with the qualifications described in subparagraph (C)
to fill the remainder of such term, in the manner
described in subparagraph (B).
(2) Staffing.--
(A) In general.--The Fund shall hire sufficient
host country nationals to staff the central office to
ensure that Fund resources are managed appropriately
and to carry out the day-to-day operations of the
central office, including--
(i) program managers, who--
(I) shall head the core management
unit;
(II) may approve program
expenditures of up to $150,000; and
(III) shall be evaluated primarily
on the success of their respective
portfolios; and
(ii) additional support staff, provided
that not more than 25 percent of the Fund's
annual expenditures are used for staffing and
administration.
(B) Ethics officer.--The Fund shall have an ethics
officer, who--
(i) shall be responsible for oversight of
the host country nationals;
(ii) shall develop ethical standards for
the management of the Fund;
(iii) shall facilitate the mainstreaming of
ethics with respect to the staff of the Fund;
(iv) may evaluate individual activities, as
needed; and
(v) should develop standard investment
procedures that do not affect the flexibility
and speed of the investment activities.
(C) Partners.--The Fund shall partner with local
entities, wholly-owned subsidiaries, and other
instruments, as appropriate, to carry out investment
activities in Americas partner countries, under the
supervision of the central office.
(3) Limitation on compensation.--None of the amounts
managed by the Fund may be used to provide any benefit to any
member of the Board of Directors or to any officer or employee
of the Fund, other than a reasonable salary as compensation for
services rendered.
(d) Eligible Programs and Projects.--
(1) Defined term.--In this subsection, the term ``qualified
private sector entity'' means a business organization that is
duly registered in the United States or in an Americas partner
country.
(2) In general.--The Fund may provide grants, loans,
technical assistance, goods, and services to qualified private
sector entities, in accordance with paragraphs (3) through (7),
for programs and projects that are consistent with the purposes
described in subsection (b).
(3) Grants.--
(A) In general.--The Fund shall establish a process
for awarding grants to qualified private sector
entities to carry out activities that are consistent
with the purposes described in subsection (b).
(B) Selection of grantees.--Not later than 20
working days after receiving an application for a grant
under this paragraph, the Fund shall complete its
review and evaluation of the application, using
anticipated return on investment as the sole criterion
for determining whether a grant will be awarded to the
applicant.
(4) Loans.--
(A) In general.--The Fund shall establish a process
for providing low-interest loans to qualified private
sector entities to carry out activities that are
consistent with the purposes described in subsection
(b). Loans authorized under this paragraph may be
offered in the form of equity if the Fund determines
that such form is appropriate.
(B) Selection of loan recipients.--Not later than
20 working days after receiving an application for a
loan under this paragraph, the Fund shall complete its
review and evaluation of the application, using
anticipated return on investment as the sole criterion
for determining whether a loan will be awarded to the
applicant.
(C) Partnerships with commercial banks.--The Fund
may enter into partnerships with commercial banks to
manage loan portfolios under this paragraph.
(5) Technical assistance.--
(A) In general.--The Fund, with support from United
States entities, such as the United States Trade and
Development Agency and other agencies or offices based
in the United States, may hire or contract with
individuals and entities capable of providing technical
assistance in support of the purposes described in
subsection (b).
(B) Selection of technical assistance recipients.--
Not later than 20 working days after receiving an
application for technical assistance under this
paragraph, the Fund shall complete its review and
evaluation of the application, using anticipated return
on investment as the sole criterion for determining
whether the requested technical assistance will be
awarded to the applicant.
(C) Eligible partner countries.--Notwithstanding
any other provision of law, the United States Trade and
Development Agency may work in any Americas partner
country regardless of income status designation.
(D) Authorization of appropriations.--There is
authorized to be appropriated to the United States
Trade and Development Agency $10,000,000, which shall
be expended on activities related to partnership
agreements entered into under section 201.
(6) Goods and services.--
(A) In general.--The Fund may directly procure and
deploy goods and services to the extent required to
support the purposes described in subsection (b).
(B) Selection of goods and services recipients.--
Not later than 20 working days after receiving an
application for goods or services under this paragraph,
the Fund shall complete its review and evaluation of
the application, using anticipated return on investment
as the sole criterion for determining whether the
requested goods or services will be provided to the
applicant.
(7) Government support.--
(A) In general.--The Fund may provide cash and in-
kind goods or services to foreign governmental entities
in order to advance the purposes described in
subsection (b).
(B) Selection of government recipients.--Not later
than 20 working days after receiving an application
from a foreign government for cash or in-kind goods or
services under this paragraph, the Fund shall complete
its review and evaluation of such application.
(e) Funding.--
(1) Authorization.--During the first fiscal year beginning
after the date of the enactment of this Act, the Fund shall
receive $1,000,000,000 from the Re-shoring and Near-shoring
Account established under section 301 for initial
capitalization. The Fund may be recapitalized in accordance
with paragraph (4).
(2) Financial instruments.--In order to maximize the
resources available to carry out the activities authorized
under this Act, the Fund should establish financial instruments
that enable private businesses in Americas partner countries
with a commercial nexus in the United States to effectively
multiply the impact of United States grants awarded by the
Fund.
(3) Distribution of return on investments.--
(A) In general.--The Fund may distribute financial
returns on Fund investments, include private venture
capital, equity, or loan repayments, at such times and
in such amounts as the Board of Directors may
determine, to the central account of the Fund.
(B) Sense of congress.--It is the sense of Congress
that the return on investment described in subparagraph
(A) should--
(i) recapitalize the central account of the
Fund;
(ii) guarantee the sustainability of the
Fund;
(iii) limit the need for additional
appropriations to the Fund;
(iv) spur additional investment;
(v) promote small and medium-sized
enterprises;
(vi) advance good governance and
transparency; and
(vii) promote job creation.
(4) Additional revenue.--After 80 percent of the initial
capital in the Fund has been expended pursuant to paragraph
(1), the Board of Directors may request additional capital for
the Fund by--
(A) submitting a request to the Re-shoring and
Near-shoring Account that identifies the additional
amount needed for the Fund; and
(B) submitting a report to Congress that details
the Fund's activities and justifies the need for the
additional capital.
(5) Nonapplicability of other laws.--Notwithstanding any
other provision of law, amounts appropriated pursuant to this
subsection may be made available to the Fund and used for the
purposes set forth in this section.
(f) Limitations on Assistance.--
(1) Major expenditures.--The Fund may not provide any
grant, loan, technical assistance, or government support valued
in excess of $499,999 unless the Board of Directors approves
such action in advance.
(2) Recordkeeping.--The Fund shall use the e-governance
platform to maintain a database containing relevant
information, as established by the Secretary of Commerce,
regarding activities of the Fund, which shall be accessible by
any member of the Board of Directors at any time.
(3) Minor expenditures.--A member of the Board of Directors
may not approve, deny, or influence the approval or denial of
an expenditure by the Fund valued at less than $500,000 unless
the Board of Directors determines that the individual
authorized to approve or deny such expenditure, subject to the
thresholds under this section, has engaged in independently
verified malfeasance.
(g) Annual Reports.--
(1) In general.--The Fund shall submit an annual report to
the Board of Directors that--
(A) describes the status of the registration and
management of the Fund;
(B) identifies the activities undertaken by the
Fund, disaggregated by activity type, country, and
strategic sector; and
(C) details the successes and failures of such
activities.
(2) Congress.--The Board of Directors shall annually
submit--
(A) to Congress a copy of each report received
pursuant to paragraph (1); and
(B) to the Committee on Finance of the Senate and
the Committee on Ways and Means of the House of
Representatives a chapter within the comprehensive
Department of Commerce report that identifies, for the
reporting period--
(i) the number of grants, loans, instances
of technical assistance, goods and services,
and other Government support provided by the
Fund;
(ii) the repayment rates for the loans and
other support referred to in clause (i);
(iii) a summary of activities conducted by
the Fund;
(iv) the countries in which the Fund is
conducting such activities;
(v) success stories involving entities
receiving assistance from the Fund;
(vi) lessons learned from the activities
conducted by the Fund; and
(vii) any other information contained in
other reports required under this Act that
relates to the Fund.
(h) Audits.--
(1) In general.--Not less frequently than annually, the
activities of the Fund shall be subject to an audit by an
independent private entity selected by the Board of Directors.
(2) Report.--
(A) Findings.--Each independent private entity
referred to in paragraph (1) shall submit a report to
the Board of Directors that contains the findings of
the audit conducted pursuant to such paragraph.
(B) Public accessibility.--The Board of Directors
shall post the report received pursuant to subparagraph
(A) on the Fund's publicly accessible website.
(i) Duration.--The Fund shall remain operational indefinitely.
Venture capital profits, equity, and loan interest shall be returned to
the central account of the Fund, with the goal that the Fund become
self-sufficient.
(j) Nonapplicability of Other Laws.--Notwithstanding any other
provision of law, executive branch agencies may conduct programs and
activities and provide services in support of the activities of the
Fund.
SEC. 254. NEAR-SHORING OF STRATEGIC SUPPLY CHAINS.
(a) Statement of Policy.--It is the policy of the United States--
(1) to advance United States national security goals and
hemispheric foreign policy and development goals by assisting
countries in the Western Hemisphere to establish the ecosystems
necessary to host strategic industries in order to reduce
vulnerabilities of the United States, in particular with
respect to supply chains based, as of the date of the enactment
of this Act, in the People's Republic of China; and
(2) to reduce the influence of the People's Republic of
China in the Western Hemisphere.
(b) Identification of Strategic Supply Chains, Products, and
Entities.--
(1) Report required.--Not later than 90 days after the date
of the enactment of this Act, and annually thereafter, the
Secretary of State, through the Deputy Assistant Secretary of
State for the Americas Partnership established under section
203(c)(1), and in coordination with the United States Trade
Representative, the Secretary of Commerce, and other
appropriate officials, shall submit to Congress a report
identifying--
(A) supply chains identified under Executive Order
14017 (86 Fed. Reg. 11849; relating to America's supply
chains), as amended on or after the date of the
enactment of this Act, located in the Western
Hemisphere (in this section referred to as ``strategic
supply chains'');
(B) products produced by such supply chains; and
(C) entities that are part of such supply chains.
(2) Opportunities for near-shoring.--
(A) In general.--The report required by paragraph
(1) shall list opportunities for near-shoring of
products within strategic supply chains and support for
such near-shoring identified under subsection (c).
(B) Consultations.--In identifying opportunities
for near-shoring under subparagraph (A), the
Secretary--
(i) shall consult with United States
industry to obtain feasibility studies,
viability plans, and letters of commitment
relating to such opportunities; and
(ii) may issue requests for information
relating to such opportunities to determine the
needs of industry with respect to near-shoring
strategic supply chains.
(3) Work plan.--The report required by paragraph (1) shall
include a work plan setting forth a prioritization for the
near-shoring of products within strategic supply chains,
including the tools to be used and the authorities to be
exercised in the implementation of such near-shoring as part of
a special economic initiative under subsection (d).
(c) Identification and Support for Near-Shoring of Products in
Strategic Supply Chains.--
(1) In general.--The Secretary of Commerce, in consultation
with the Secretary of State and the heads of other relevant
Federal agencies--
(A) shall, in partnership with industry and
stakeholders, identify opportunities that would be
appropriate for near-shoring; and
(B) may provide funding to support such
opportunities as provided in this title.
(2) Preferences.--In selecting among opportunities for
near-shoring that will receive funding under paragraph (1), the
Secretary of Commerce, in consultation with the Secretary of
State and the heads of other relevant Federal agencies, shall
give preference to opportunities for the near-shoring of
products that--
(A) have the support of the government of the
country in which the production of the product will
take place; and
(B) can attract private investment.
(3) Production in non-americas partner countries.--The
Secretary of Commerce may provide funding under this subsection
to near-shore the production of a product identified under
subsection (b)(1)(B) to a country that is not an Americas
partner country if the Secretary determines and certifies to
Congress that there are no opportunities appropriate for re-
shoring or near-shoring to Americas partner countries.
(d) Special Economic Initiative.--
(1) In general.--The President shall establish a special
economic initiative for strategic supply chains, to be
administered by the Department of Commerce, under which the
tools described in the provisions of and amendments made by
this subtitle and subtitle D are made available to Americas
partner countries and such other countries as the President
considers appropriate.
(2) Notification to congress; plan.--Not less than 15 days
before exercising the authority provided by paragraph (1) to
establish a special economic initiative with respect to a
country, the President shall--
(A) notify Congress of the intention of the
President to exercise that authority; and
(B) submit to Congress a plan for the initiative,
which shall include a description of--
(i) the sector involved;
(ii) the projects involved;
(iii) an analysis, including environmental
analysis, available with respect to the
initiative;
(iv) the agreement with the government of
the country with respect to the initiative; and
(v) the cost of the initiative.
(3) Authority to enter into agreements.--The President may
enter into agreements using authorities of Federal agencies,
including the Department of State, the United States Agency for
International Development, the Department of Commerce, the
Department of Defense, the Department of Energy, the Department
of Agriculture, the Department of Health and Human Services, or
any other authorities the President considers appropriate, to
advance a special economic initiative under paragraph (1).
(4) Waiver of competition requirements.--
(A) In general.--The President may waive the
requirements of title 41, United States Code, relating
to competition in the awarding of Government contracts
in the case of a contract related to the near-shoring
of strategic supply chains through a special economic
initiative under paragraph (1) if the ethics officer of
the agency seeking to enter into the contract evaluates
the contract and the certifies that there are no
conflicts of interest.
(B) Timing of evaluation.--An ethics officer shall
have not less than 20 business days to conduct an
evaluation described in subparagraph (A).
(5) Additional support for near-shoring under special
economic initiative.--
(A) In general.--The Secretary of Commerce, in
coordination with the Secretary of State and the heads
of other agencies that operate under the foreign policy
guidance of the Secretary of State, shall, as
appropriate, prioritize and expedite the efforts of the
Department of Commerce, the Department of State, the
Department of the Treasury, and such other agencies in
supporting the efforts of the United States Government
to incentivize near-shoring through financial and
nonfinancial methods, including methods described in
this subsection, and Americas partner countries to
support near-shoring and increase investment in
entities identified under subsection (b)(1)(C) by--
(i) providing diplomatic, political, and
economic support to such entities in Americas
partner countries or other countries in the
Western Hemisphere identified by the Secretary
of Commerce as necessary;
(ii) facilitating negotiations concerning
cross-border infrastructure, such as electric
grids, ports, trains, or other infrastructure
that crosses borders;
(iii) providing technical and grant
assistance to enhance the regulatory and labor
environments of Americas partner countries and
other such other countries to facilitate United
States business investments; and
(iv) facilitating both early-stage project
support and late-stage project support to such
entities with respect to near-shoring.
(B) Export protection.--
(i) In general.--An entity identified under
subparagraph (C) of subsection (b)(1) that
receives assistance with re-shoring or near-
shoring production of a product identified
under subparagraph (B) of that subsection is
eligible to receive export protection as
described in clause (iii).
(ii) Report to department of commerce.--If
the application of an entity submitted under
clause (i) is approved, the entity shall submit
to the Secretary of Commerce a report
specifying the average production level of the
product described in that clause in the United
States for the 3 calendar years preceding
submission of the report.
(iii) Amount of exports provided export
protection.--If the quantity of production in
the United States of a product described in
clause (i) exceeds the level specified under
clause (ii), the quantity in excess of that
level may be exported without being subject to
export controls or any other restrictions on
exportation (subject to such exceptions as the
President may declare are in the national
security interests of the United States).
(C) Definitions.--In this paragraph:
(i) Early-stage project support.--The term
``early-stage project support'' includes the
following:
(I) Feasibility studies.
(II) Long-term strategic supply
chain planning.
(III) Resource evaluations.
(IV) Project appraisal and costing.
(V) Pilot projects.
(VI) Commercial support, such as
trade missions, reverse trade missions,
technical workshops, international
buyer programs, and international
partner searchers to link suppliers to
projects.
(VII) Technical assistance and
other guidance to improve the local
regulatory environment and market
frameworks to encourage transparent
competition.
(ii) Late-stage project support.--The term
``late-stage project support'' includes support
of the type provided by the BUILD Americas
Unit.
(6) Source of funds.--Funding for a special economic
initiative under paragraph (1) shall be taken from the Re-
shoring and Near-shoring Account established under section 301.
(e) Regulatory Alignment.--
(1) In general.--The Secretary of Commerce, in coordination
with the Americas Partnership business advisory board
established by the Americas Partnership Secretariat under
section 202, and with support from appropriate officials of the
United States Government, such as the Assistant United States
Trade Representative for the Americas Partnership established
under section 203(b) and the official of the Trade and
Development Agency with lead responsibility for the
implementation of this title, shall begin a process of
regulatory alignment with respect to supply chains and products
identified under subsection (b)(1) with--
(A) Americas partner countries; and
(B) any other country that benefits from the near-
shoring of the production of a product identified under
subsection (b)(1)(B) to the country.
(2) Prioritization of pharmaceuticals.--In carrying out the
process described in paragraph (1), the Secretary shall begin
with regulatory alignment with respect to pharmaceuticals.
(3) Reports required.--The Secretary shall submit to
Congress and make available to the public reports on the
success of efforts under paragraph (1) on a continuous basis.
(f) United States International Development Finance Corporation.--
(1) In general.--For purposes of supporting near-shoring of
strategic supply chains to Americas partner countries and such
other countries as the President considers appropriate, the
United States International Development Finance Corporation (in
this subsection referred to as the ``Corporation'') may provide
support under title II of the Better Utilization of Investments
Leading to Development Act of 2018 (22 U.S.C. 9621 et seq.) to
countries with upper-middle-income economies or high-income
economies (as those terms are defined by the World Bank)
without regard to the limitation under section 1412(c)(2) of
that Act (22 U.S.C. 9612(c)(2)).
(2) Limitations.--The Corporation shall restrict the
provision of support to a country described in paragraph (1)
unless--
(A) the President certifies to the appropriate
congressional committees (as defined in section 1402 of
the Better Utilization of Investments Leading to
Development Act of 2018 (22 U.S.C. 9601)) that such
support furthers the national economic or foreign
policy interests of the United States; and
(B) such support is--
(i) designed to support the development of
strategic supply chains in countries other than
the People's Republic of China; or
(ii) necessary to preempt or counter
efforts by a strategic competitor of the United
States to secure significant political or
economic leverage or acquire national security-
sensitive technologies or infrastructure in a
country that is an ally or partner of the
United States.
(g) Duties and Subsidies.--An entity organized under the laws of an
Americas partner country or another country, as the President considers
appropriate, that is part of a strategic supply chain shall be treated
not less favorably than a United States person with respect to duties,
subsidies, and other related issues.
(h) Millennium Challenge Corporation.--The Millennium Challenge
Corporation may provide assistance under the Millennium Challenge Act
of 2003 (22 U.S.C. 7701 et seq.) to an Americas partner country or
another country, as the President considers appropriate, for purposes
of supporting the near-shoring of strategic supply chains without
regard to--
(1) any requirement of that Act relating to competitive
procedures; or
(2) the requirement to enter into a Compact under section
609 of that Act (22 U.S.C. 7708).
(i) Trade and Development Agency.--The Trade and Development Agency
may provide assistance under the section 661 of the Foreign Assistance
Act of 1961 (22 U.S.C. 2421) to all Americas partner countries, without
regard to the limitation under subsection (a) of that section, for
purposes of supporting the near-shoring of strategic supply chains.
(j) Technical Assistance.--The United States Agency for
International Development, the Corporation, the Trade and Development
Agency, and other relevant agencies shall provide technical assistance
with respect to the near-shoring of strategic supply chains.
SEC. 255. TRANSFORMATIONAL ENERGY DEVELOPMENT.
(a) Chief Energy Officer.--The BUILD Act of 2018 (22 U.S.C. 9601 et
seq.) is amended--
(1) in section 1402--
(A) by redesignating paragraphs (3) and (4) as
paragraphs (5) and (6), respectively;
(B) by redesignating paragraph (2) as paragraph
(3);
(C) by inserting after paragraph (1) the following:
``(2) Early-stage project technical assistance.--The term
`early-stage project technical assistance' includes--
``(A) feasibility studies;
``(B) resource evaluations;
``(C) project appraisal and costing;
``(D) pilot projects;
``(E) commercial support, such as trade missions,
reverse trade missions, technical workshops,
international buyer projects, and international partner
searchers to link supplies to projects;
``(F) technical assistance and other guidance to
improve the local regulatory environment and market
frameworks to encourage transparent competition and
enhance energy security; and
``(G) long-term energy sector planning.'';
(D) by inserting after paragraph (3) (as so
redesignated) the following:
``(4) Multilateral development banks.--The term
`multilateral development banks' has the meaning given that
term in section 1701(c) of the International Financial
Institutions Act (22 U.S.C. 262r(c)).''; and
(E) by adding at the end the following:
``(7) Transformational energy technology.--The term
`transformational energy technology' means--
``(A) renewable energy systems;
``(B) hydrogen fuel cell technology for
residential, energy, industrial, or transportation
applications;
``(C) advanced nuclear energy facilities;
``(D) carbon capture, utilization, and
sequestration technologies;
``(E) efficient electrical generation,
transmission, and distribution technologies;
``(F) pollution control equipment;
``(G) energy storage technologies for residential,
industrial, and transportation applications;
``(H) technologies and systems for reducing potent
greenhouse gas pollutants, including methane leakage
from natural gas transmission and distribution
infrastructure;
``(I) manufacturing and deployment of nuclear
supply components for advanced nuclear reactors;
``(J) system-level energy management solutions;
``(K) application of platform technologies,
including data analytics, artificial intelligence, and
other software to improve the energy efficiency and
effectiveness of energy infrastructure, including
electric grid operation;
``(L) energy-water use efficiency in water
resources infrastructure and water-using technologies;
``(M) carbon capture ready combined cycle natural
gas generation facilities;
``(N) carbon capture ready supercritical or ultra-
supercritical coal generation facilities;
``(O) innovative technologies for improving the
resilience or reliability of existing energy
infrastructure, including innovative approaches to
improve the cybersecurity of energy technologies;
``(P) innovative technologies for reducing
greenhouse emissions from industrial processes;
``(Q) technologies used in the sourcing or
processing of critical minerals;
``(R) technologies used in the gasification or
transport of natural gas, carbon dioxide, or hydrogen;
and
``(S) any other technology, including recycled,
reused, refurbished, any repurposed technology, to
support innovative energy technologies or provide an
input or application for such technologies.'';
(2) in section 1413--
(A) in subsection (a), by inserting ``a Chief
Energy Office,'' after ``a Chief Development
Officer,''; and
(B) by adding at the end the following:
``(j) Chief Energy Officer.--
``(1) Appointment.--Subject to the approval of the Board,
the Chief Executive Officer of the Corporation, with the
concurrence of the Administrator of the United States Agency
for International Development, shall appoint a Chief Energy
Officer from among individuals with experience in energy
development.
``(2) Duties.--The Chief Energy Officer shall--
``(A) promote the export of transformational energy
technology to be used in the development, production,
and distribution of energy resources, critical
minerals, and energy efficiency and energy storage
equipment;
``(B) to the maximum extent practicable, seek to
identify development opportunities and engage in early-
stage project technical assistance to promote
transformational energy technology projects; and
``(C) using broad criteria, make efforts to ensure
that the proportion of projects for which the
Corporation provides support that are transformational
energy technology projects is--
``(i) not less than 30 percent of each form
of support provided by the Corporation; and
``(ii) not less than 30 percent of the
total support provided by the Corporation for
projects sponsored by or involving private
sector entities that are United States persons.
``(3) Reports required.--
``(A) Annual report.--Not later than 1 year after
the date of the enactment of this subsection, and
annually thereafter, the Chief Energy Officer shall
submit to the appropriate congressional committees a
report on transformational energy technology projects
that includes a description of--
``(i) the development of such projects;
``(ii) such projects under consideration
for support by the Corporation;
``(iii) coordination with other Federal
agencies and with multilateral development
banks with respect to such projects;
``(iv) actions taken to identify
opportunities for such projects and provide
early-stage project technical assistance for
such projects; and
``(v) competition from multilateral
development banks with respect to support for
such projects.
``(B) Energy development report.--Not later than 30
days following the close of each fiscal quarter, the
Chief Energy Officer shall update the Joint Energy
Export, Development, and Trade Database established
under section 255(d) of the Americas Act with
information relevant to the international finance of
energy generation and associated infrastructure as
determined by the Deputy Assistant Secretary for the
Americas Partnership.''; and
(3) in title V, by adding at the end the following:
``SEC. 1455. ENERGY FINANCING CONSIDERATIONS.
``(a) Exception for Less Developed Countries.--Notwithstanding
section 1412(c), if the Corporation determines that a project to be
carried out in a country that is not a less developed country and is
under consideration for support from the Corporation may receive
financing from the Government of the Russian Federation or the
Government of the People's Republic of China, the Corporation may
dedicate not more than 20 percent of the funds available to provide
support for transformational energy technology projects to such
country.
``(b) Substitution Effect Consideration.--In any environmental
assessment for a transformational energy technology project under
consideration for support provided by the Corporation, the Chief Energy
Officer shall consider--
``(1) whether the project is under consideration for
support from another country with--
``(A) greater emission intensity than the United
States; or
``(B) less stringent environmental standards than
the United States; and
``(2) the environmental impacts that would occur if--
``(A) the Corporation declined to provide support;
and
``(B) a country with greater emission intensity or
less stringent environmental standards than the United
States provided financing to develop the project.
``(c) Publication of Terms.--Not later than 18 months after the
commencement of construction on a transformational energy technology
project, the Chief Energy Officer shall make publicly available the
terms of the contract for the project.''.
(b) Office of Energy.--Section 2(b)(1) of the Export-Import Bank
Act of 1945 (12 U.S.C. 635(b)(1)) is amended--
(1) by striking subparagraph (C) and inserting the
following:
``(C) Office of Energy.--
``(i) Establishment.--There shall be in the Bank the Office
of Energy (referred to in this subparagraph as the `Office').
``(ii) Purpose.--The purpose of the Office shall be to
promote the export of goods and services to be used in the
development, production, and distribution of eligible
technologies.
``(iii) Early-stage project technical assistance.--The
Office shall provide, to the maximum extent practicable, early-
stage project technical assistance to promote eligible
technologies.
``(iv) Reports required.--
``(I) Annual report.--Not later than 1 year after
the date of the enactment of the Americas Act, and
annually thereafter, the Office shall submit to the
appropriate congressional committees a report on--
``(aa) the development of projects for the
export of goods and services to be used in the
development, production, and distribution of
eligible technologies;
``(bb) such projects under consideration
for support by the Bank;
``(cc) coordination with other Federal
agencies and with multilateral development
banks with respect to such projects;
``(dd) actions taken to identify
opportunities for such projects and provide
early-stage project technical assistance for
such projects; and
``(ee) competition from multilateral
development banks with respect to support for
projects.
``(II) Energy development report.--Not later than
30 days following the close of each fiscal quarter, the
Office shall update the Joint Energy Export,
Development, and Trade Database established under
section 255(d) of the Americas Act with information
relevant to the international finance of energy
generation and associated infrastructure as determined
by the Deputy Assistant Secretary for the Americas
Partnership.
``(v) Content policy adjustments.--
``(I) In general.--The Bank may guarantee or insure
not more than 100 percent of a contract for the export
of goods and services to be used in the development,
production, and distribution of eligible technologies
if not less than 50 percent of the goods and services
to be exported under the contract are goods and
services that originated or were produced in the United
States.
``(II) Adjustment for local goods and services.--In
the case of a project described in subclause (I), the
Bank may provide financing with respect to goods and
services that were produced or originated in the
country of the buyer in an amount not to exceed 50
percent of the value of goods and services exported
from the United States under the contract.
``(vi) Target.-- It shall be a goal of the Bank to ensure
that not less than 30 percent of the applicable amount (as
defined in section 6(a)(2)) is made available each fiscal year
for the financing of exports of goods and services to be used
in the development, production, and distribution of eligible
technologies.
``(vii) Substitution effect consideration.--In any
environmental assessment for a project for the export of goods
and services to be used in the development, production, and
distribution of eligible technologies under consideration for
support provided by the Bank, the Office shall consider--
``(I) whether the project is under consideration
for financing from another country with--
``(aa) greater emission intensity than the
United States; or
``(bb) less stringent environmental
standards than the United States; and
``(II) the environmental impacts that would occur
if--
``(aa) the Bank declined to provide
financing; and
``(bb) a country with greater emission
intensity or less stringent environmental
standards than the United States provided
financing to develop the project.
``(viii) Publication of terms.--Not later than 18 months
after the commencement of construction on a project involving
eligible technologies, the Office shall make publicly available
the terms of the contract for the project.
``(ix) Definitions.--In this subparagraph:
``(I) Early-stage project technical assistance.--
The term `early-stage project technical assistance'
includes--
``(aa) feasibility studies;
``(bb) resource evaluations;
``(cc) project appraisal and costing;
``(dd) pilot projects;
``(ee) commercial support, such as trade
missions, reverse trade missions, technical
workshops, international buyer projects, and
international partner searchers to link
supplies to projects;
``(ff) technical assistance and other
guidance to improve the local regulatory
environment and market frameworks to encourage
transparent competition and enhance energy
security; and
``(gg) long-term energy sector planning.
``(II) Eligible technology.--The term `eligible
technology' means--
``(aa) renewable energy systems;
``(bb) hydrogen fuel cell technology for
residential, energy, industrial, or
transportation applications;
``(cc) advanced nuclear energy facilities;
``(dd) carbon capture, utilization, and
sequestration technologies;
``(ee) efficient electrical generation,
transmission, and distribution technologies;
``(ff) pollution control equipment;
``(gg) energy storage technologies for
residential, industrial, and transportation
applications;
``(hh) technologies and systems for
reducing potent greenhouse gas pollutants,
including methane leakage from natural gas
transmission and distribution infrastructure;
``(ii) manufacturing and deployment of
nuclear supply components for advanced nuclear
reactors;
``(jj) system-level energy management
solutions;
``(kk) application of platform
technologies, including data analytics,
artificial intelligence, and other software to
improve the energy efficiency and effectiveness
of energy infrastructure, including electric
grid operation;
``(ll) energy-water use efficiency in water
resources infrastructure and water-using
technologies;
``(mm) carbon capture ready combined cycle
natural gas generation facilities;
``(nn) carbon capture ready supercritical
or ultra-supercritical coal generation
facilities;
``(oo) innovative technologies for
improving the resilience or reliability of
existing energy infrastructure, including
innovative approaches to improve the
cybersecurity of energy technologies;
``(pp) innovative technologies for reducing
greenhouse emissions from industrial processes;
``(qq) technologies used in the sourcing or
processing of critical minerals;
``(rr) technologies used in the
gasification or transport of natural gas,
carbon dioxide, or hydrogen; and
``(ss) any other technology, including
recycled, reused, refurbished, any repurposed
technology, to support innovative energy
technologies or provide an input or application
for such technologies.''; and
(2) by striking subparagraph (K).
(c) Program on Transformational Exports.--The Export-Import Bank
Act of 1945 (12 U.S.C. 635 et seq.) is amended--
(1) in section 2(l)--
(A) in the subsection heading, by striking ``China
and'';
(B) in paragraph (1)--
(i) in the matter preceding subparagraph
(A)--
(I) by striking ``China and''; and
(II) by striking ``by the People's
Republic of China or'';
(ii) in subparagraph (A), by striking ``by
the People's Republic of China or''; and
(iii) in subparagraph (B)--
(I) in the matter preceding clause
(i), by striking ``the People's
Republic of China'' and inserting
``covered countries''; and
(II) in clause (vi), by striking
``Renewable energy'' and inserting
``Eligible technology'';
(C) in paragraph (2)--
(i) by redesignating subparagraphs (A),
(B), and (C) as subparagraphs (C), (D), and
(E), respectively; and
(ii) by inserting after the matter
preceding subparagraph (C) (as redesignated by
clause (i)) the following:
``(C) the People's Republic of China; and
``(D) the Russian Federation;''; and
(D) in paragraph (3)--
(i) in subparagraph (A)--
(I) by striking ``20 percent'' and
inserting ``50 percent''; and
(II) by striking ``China and'';
(ii) in subparagraph (B), in the matter
preceding clause (i)--
(I) by striking ``20 percent'' and
inserting ``50 percent''; and
(II) by striking ``the People's
Republic of China is'' and inserting
``the People's Republic of China and
the Russian Federation are''; and
(iii) in subparagraph (D), by striking
``China and'';
(2) in section 8(l)--
(A) in the subsection heading, by striking ``Under
the'' and all that follows through ``Exports'' and
inserting ``Under the Program on Transformational
Exports''; and
(B) in the text, by striking ``China and''; and
(3) in section 8A(a)(5)--
(A) in the heading, by striking ``renewable'' and
inserting ``clean'';
(B) by striking ``renewable'' each place it appears
and inserting ``clean''; and
(C) by striking ``section 2(b)(1)(K)'' and
inserting ``section 2(b)(1)(C)''.
(d) Joint Energy Export, Development, and Trade Database.--
(1) Definitions.--In this subsection:
(A) Appropriate congressional committees.--The term
``appropriate congressional committees'' means--
(i) the Committee on Energy and Natural
Resources, the Committee on Finance, the
Committee on Banking, Housing, and Urban
Affairs, and the Committee on Foreign Relations
of the Senate; and
(ii) the Committee on Energy and Commerce,
the Committee on Ways and Means, the Committee
on Financial Services, and the Committee on
Foreign Affairs of the House of
Representatives.
(B) Database.--The term ``Database'' means the
Joint Energy Export, Development, and Trade Database.
(C) Deputy assistant secretary.--The term ``Deputy
Assistant Secretary'' means the Deputy Assistant
Secretary for the Americas Partnership.
(D) Eligible technology.--The term ``eligible
technology'' means--
(i) renewable energy systems;
(ii) hydrogen fuel cell technology for
residential, energy, industrial, or
transportation applications;
(iii) advanced nuclear energy facilities;
(iv) carbon capture, utilization, and
sequestration technologies;
(v) efficient electrical generation,
transmission, and distribution technologies;
(vi) pollution control equipment;
(vii) energy storage technologies for
residential, industrial, and transportation
applications;
(viii) technologies and systems for
reducing potent greenhouse gas pollutants,
including methane leakage from natural gas
transmission and distribution infrastructure;
(ix) manufacturing and deployment of
nuclear supply components for advanced nuclear
reactors;
(x) system-level energy management
solutions;
(xi) application of platform technologies,
including data analytics, artificial
intelligence, and other software to improve the
energy efficiency and effectiveness of energy
infrastructure, including electric grid
operation;
(xii) energy-water use efficiency in water
resources infrastructure and water-using
technologies;
(xiii) carbon capture ready combined cycle
natural gas generation facilities;
(xiv) carbon capture ready supercritical or
ultra-supercritical coal generation facilities;
(xv) innovative technologies for improving
the resilience or reliability of existing
energy infrastructure, including innovative
approaches to improve the cybersecurity of
energy technologies;
(xvi) innovative technologies for reducing
greenhouse emissions from industrial processes;
(xvii) technologies used in the sourcing or
processing of critical minerals;
(xviii) technologies used in the
gasification or transport of natural gas,
carbon dioxide, or hydrogen; and
(xix) any other technology to support
innovative energy technologies or provide an
input or application for such technologies.
(2) Establishment.--Not later than 180 days after the date
of the enactment of this Act, the Secretary of Energy shall
establish a database to be known as the ``Joint Energy Export,
Development, and Trade Database''.
(3) Management.--The Deputy Assistant Secretary shall--
(A) manage the Database;
(B) ensure the agencies described in paragraph (5)
may directly access the Database to provide the
contents required under paragraph (4); and
(C) ensure that the Database is interoperable with
the e-government system.
(4) Contents.--
(A) In general.--The Database shall contain
information provided by each agency described in
paragraph (5) and determined by the Deputy Assistant
Secretary, in consultation with industry partners, to
be relevant to the international finance of eligible
technology, including--
(i) for each project related to eligible
technology supported by the agency--
(I) a description of the project;
(II) an identification of the
country in which the project is being
carried out; and
(III) an identification of the
primary foreign participants in the
project;
(ii) details of the request for each such
project, including--
(I) the support requested,
including the technical assistance; and
(II) project timelines; and
(iii) a description of actions taken by the
agency with respect to each such project
regarding--
(I) financing;
(II) technical assistance;
(III) potential hurdles;
(IV) areas for collaboration among
agencies;
(V) relevant timelines;
(VI) consideration of the effects
of support being provided by another
country if the agency declines to
provide support, if applicable; and
(VII) status updates.
(B) Additional content.--The Deputy Assistant
Secretary may require such additional information to be
included in the Database as the Deputy Assistant
Secretary considers necessary--
(i) to enable collaboration between the
agencies described in paragraph (5); and
(ii) to aid the expansion of energy
financing.
(C) Updates to database.--Each agency described in
paragraph (5) shall update the Database not less
frequently than quarterly.
(5) Agencies described.--The agencies described in this
paragraph shall include--
(A) the Department of Energy;
(B) the Department of Commerce;
(C) the Department of State;
(D) the Export-Import Bank of the United States;
(E) the United States International Development
Finance Corporation;
(F) the Trade and Development Agency;
(G) the United States Agency for International
Development;
(H) the Department of the Treasury;
(I) the Office of the United States Trade
Representative; and
(J) the BUILD Americas Unit.
(6) Agency coordination.--
(A) In general.--Not later than 270 days after the
date of the enactment of this Act, and quarterly
thereafter, the Deputy Assistant Secretary and other
officials of equivalent rank from the agencies
described in paragraph (5) shall meet to review the
Database and identify areas for collaboration on
projects described in the Database.
(B) Additional participants.--
(i) In general.--The Deputy Assistant
Secretary may invite the individuals described
in clause (ii) to attend the meetings described
in subparagraph (A).
(ii) Individuals described.--The
individuals described in this subparagraph
are--
(I) the United States Executive
Director of the World Bank Group;
(II) the United States Executive
Director of the Inter-American
Development Bank;
(III) the United States Executive
Director of the Asian Development Bank;
(IV) the United States Executive
Director of the African Development
Bank;
(V) the United States Executive
Director of the European Bank for
Reconstruction and Development; and
(VI) any other head of a Federal
agency as the Deputy Assistant
Secretary considers appropriate.
(7) Reports required.--Not later than 270 days after the
date of the enactment of this Act, and quarterly thereafter,
the Deputy Assistant Secretary shall submit to the appropriate
congressional committees a report on the Database, which shall
include--
(A) a summary of the information provided in
accordance with paragraph (4); and
(B) an identification of key updates made by the
agencies described in paragraph (5).
(e) Treatment of Equity Investments at the Development Finance
Corporation.--Section 1421(c) of the BUILD Act of 2018 (22 U.S.C.
9621(c)) is amended by adding at the end the following:
``(7) Treatment of equity investments.--
``(A) In general.--Subject to subparagraphs (B) and
(C), support provided under paragraph (1) with respect
to a project shall be considered a Federal credit
program that is subject to the Federal Credit Reform
Act of 1990 (2 U.S.C. 661 et seq.) for purposes of
applying the requirements of such Act to such support.
``(B) Determination of cost.--
``(i) In general.--The cost (as defined in
subsection 502(5) of the Federal Credit Reform
Act of 1990 (2 U.S.C. 661a(5))) of support
provided under paragraph (1) with respect to a
project shall be the net present value, at the
time when funds are disbursed to provide the
support, of the following estimated cash flows:
``(I) The purchase price of the
support.
``(II) Dividends, redemptions, and
other shareholder distributions during
the term of the support.
``(III) Proceeds received upon a
sale, redemption, or other liquidation
of the support.
``(ii) Changes in terms included.--The
estimated cash flows described in subclauses
(I) through (III) of clause (i) shall include
the effects of changes in terms resulting from
the exercise of options included in the
agreement to provide the support.
``(C) Treatment of risk.--
``(i) In general.--The Corporation shall
hold in reserve an amount equal to 5 percent of
the amount of financing outstanding under
paragraph (1) to ensure that the Corporation
has funds available if necessary as a result
of--
``(I) any difference between the
cost of support under paragraph (1)
estimated before the date of the
enactment of the Americas Act and
reestimated, as required by this
paragraph, after such date of
enactment; and
``(II) any other losses that occur
as the result of an equity investment.
``(ii) Deduction from maximum contingent
liability.--The maximum contingent liability
under section 1433 shall be reduced by the
amount held in reserve under clause (i).''.
(f) Modification of Maximum Contingent Liability at the Development
Finance Corporation.--Section 1433 of the BUILD Act of 2018 (22 U.S.C.
9633) is amended to read as follows:
``SEC. 1433. MAXIMUM CONTINGENT LIABILITY.
``The maximum contingent liability of the Corporation outstanding
at any one time shall not exceed in the aggregate $90,000,000,000.''.
(g) Modification of Aggregate Loan, Guarantee, and Insurance
Authority of Export Import Bank.--Section 6(a)(2) of the Export-Import
Bank Act of 1945 (12 U.S.C. 635e(a)(2)) is amended by striking ``2020
through 2027, means $135,000,000,000'' and inserting ``2022 through
2027, means $175,000,000,000''.
(h) Energy Plan for the Americas.--
(1) In general.--Not later than 180 days after the date of
the enactment of this Act, the Chief Energy Officer of the
United States International Development Finance Corporation
(established under subsection (j) of section 1413 of the BUILD
Act, as added by subsection (a)(2)), in coordination with the
officials specified in paragraph (3), shall submit to Congress
a comprehensive energy plan for the Americas.
(2) Elements.--The plan required by paragraph (1) shall
address the following:
(A) Challenges, limitations, and opportunities in
the Americas for investment in securing the energy
independence of the Western Hemisphere.
(B) Renewable and non-renewable sources of energy.
(C) A list of major investments required to carry
out the plan.
(D) Energy regulations to be addressed by the
business advisory board established pursuant to section
202.
(E) Impact of the plan on global carbon emissions
and approaches for achieving carbon neutrality.
(F) Such other information relating to affordable
energy independence in the Americas as the Chief Energy
Officer considers appropriate.
(3) Officials specified.--The officials specified in this
paragraph are the following:
(A) The Secretary of Commerce.
(B) The Administrator of the United States Agency
for International Development.
(C) The Secretary of State.
(D) The United States Trade Representative.
(E) The Director of the Trade and Development
Agency.
(F) The head of any other agency the Chief Energy
Officer considers appropriate.
Subtitle D--People-to-People Activities
SEC. 261. HUMANITARIAN AND BUSINESS DEVELOPMENT ASSISTANCE.
(a) Sense of Congress.--It is the sense of Congress that--
(1) the promotion of human rights and democracy around the
world is essential;
(2) such promotion should continue to be incorporated into
ongoing programs, such as those of the Bureau of Democracy,
Human Rights, and Labor of the Department of State, the Office
of Democracy and Governance of the United States Agency for
International Development, the National Endowment for
Democracy, the Commercial Law Development Program at the
Department of Commerce, and other governmental and
nongovernmental entities;
(3) the activities authorized under this subtitle should
remain focused on the objectives of this subtitle; and
(4) any funds appropriated pursuant to this subtitle should
be expended on such activities.
(b) Purpose.--The purposes of this section are--
(1) to deepen the cultural and people-to-people ties
between the people of Americas partner countries;
(2) to facilitate the establishment of sustainable market
solutions to increase the economic advancement interdependence
of the countries in the Western Hemisphere; and
(3) to advance the objectives of this subtitle through
support to businesses, which should remain focused on those
endeavors.
(c) Assistance Authorized.--
(1) In general.--The Secretary of State, in consultation
with the Administrator of the United States Agency for
International Development, the Director of the United States
Trade and Development Agency, and the Secretary of Commerce,
shall establish a people-to-people assistance program through
which individuals in Americas partner countries may participate
in programs funded by the United States Government.
(2) Program elements.--The programs established pursuant to
paragraph (1) shall remain focused on achieving the objectives
of the Americas Partnership Threshold Program established under
section 223(a), and may include grants and contracts for--
(A) training programs related to public
administration, such as the Global Procurement
Initiative of the United States Trade and Development
Agency, and good regulatory practices and practices of
internal governance;
(B) technical assistance related to--
(i) improved service delivery for public
services;
(ii) studies, reports, and other
deliverables needed related to engineering,
construction, maintenance of public or private
infrastructure;
(iii) feasibility studies related to
private sector investments; and
(iv) startup grants, venture capital, and
equity for establishing and growing businesses;
and
(v) other activities to support the
Americas Partnership Threshold Program; and
(C) other people-to-people assistance authorized by
the Secretary of State.
(3) Implementation.--The Secretary of State is authorized
to enter into contracts with for-profit private sector entities
to implement the people-to-people assistance program authorized
under this subsection.
(d) Americas Partnership Accelerator Program.--
(1) Establishment.--There is established within the United
States Agency for International Development a program to be
known as the Americas Partnership Accelerator Program, which
shall catalyze small and medium industries within Americas
partner countries by providing short-term, tangible successes,
which will help people recognize entrepreneurs in their
communities who are benefiting from the Americas program.
(2) Authorization of appropriations.--There is authorized
to be appropriated, from the Re-shoring and Near-shoring
Account established under section 301, $15,000,000 to carry out
the program established under paragraph (1).
(e) Americas Partnership Fund for Nature.--
(1) Establishment.--There is established in the Treasury of
the United States the Americas Partnership Fund for Nature,
which shall be used by the United States Agency for
International Development to assist Americas partner countries
by catalyzing activities advancing conservation efforts through
grants, technical assistance, and other tools.
(2) Authorization of appropriations.--There is authorized
to be appropriated, from the Re-shoring and Near-shoring
Account established under section 301, $10,000,000 to carry out
the activities described in paragraph (1).
(f) Funding.--The Secretary of State may expend such sums as may be
necessary from the Re-shoring and Near-shoring Account established
under section 301 to carry out this section.
SEC. 262. DEPARTMENT OF STATE.
(a) Cultural Affairs Programs.--The Secretary of State may provide
Americas partner countries with additional cultural affairs
programming, including--
(1) additional English language programming;
(2) additional scholarship slots for the J. William
Fulbright Educational Exchange Program authorized under the
Mutual Educational and Cultural Exchange Act of 1961 (22 U.S.C.
2451 et seq.);
(3) increased participation in the Fulbright-Hays Program
authorized under section 102 of the Mutual Educational and
Cultural Exchange Act of 1961 (22 U.S.C. 2452);
(4) additional slots in exchange programs of the Bureau of
Educational and Cultural Affairs that benefit outbound American
citizens;
(5) additional cultural exchange programs in music and the
arts;
(6) establishing additional ``American Corners'' or other
outreach mechanisms; and
(7) the appropriation of additional amounts for the
Ambassador's Special Self-Help Fund authorized under the
Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.).
(b) Existing Programs.--The Secretary of State may build upon
existing programs, such as the 100,000 Strong in the Americas
Innovation Fund, the College Horizons Opportunity Program, Young
Leaders of the Americas Initiative, and other programs, as the
Secretary deems appropriate.
(c) Funding.--In addition to any other amounts made available to
the Bureau of Western Hemisphere Affairs, the Secretary of State may
expend such sums as may be necessary from the Re-shoring and Near-
shoring Account established under section 301 to carry out this
section.
SEC. 263. PEACE CORPS.
(a) Additional Volunteers in Americas Partner Countries.--The
Director of the Peace Corps shall take the necessary steps to double
the number of Peace Corps volunteers in each Americas partner country
during the 27-month period immediately following the date on which such
country enters into a partnership agreement pursuant to section 201.
(b) Establishing a Peace Corps Volunteers in New Countries.--As
soon as possible after an Americas partner country that does not have a
Peace Corps presence enters into a partnership agreement pursuant to
section 201, the Director of the Peace Corps shall take the necessary
steps to assign Peace Corps volunteers to such country.
(c) Offsets.--The cost of deploying additional Peace Corps
volunteers to Americas partner countries under this section shall be
paid for--
(1) with offsets from Peace Corps deployments to other
countries; or
(2) from the Re-shoring and Near-shoring Account
established under section 301.
SEC. 264. AMERICAN UNIVERSITY OF THE AMERICAS.
(a) Sense of Congress.--It is the sense of Congress that--
(1) quality university education is essential for the
advancement of free, prosperous societies;
(2) there is not a Latin American university included among
the top 100 global universities in the U.S. News and World
Report's 2022-2023 rankings;
(3) there is a significant need for high-quality,
nonideological, affordable university education in Latin
America, especially education that is focused on science,
technology, engineering, and math; and
(4) it is essential to protect intellectual diversity on
college campuses, while not attempting to limit freedom of
speech.
(b) Establishment.--
(1) In general.--During the 2-year period beginning on the
date that is 1 year after the date of the enactment of this
Act, the Administrator of the United States Agency for
International Development, in cooperation with American Schools
and Hospitals Abroad, shall establish the American University
of the Americas in up to 3 Americas partner countries selected
by the Administrator, in consultation with the Secretary of
Education.
(2) Independence.--The American University of the
Americas--
(A) shall be modeled after similar institutions,
such as the American University of Armenia, the
American University of Dubai, the American University
of Nigeria, and the American University of Cairo;
(B) shall remain independent of the United States
Government; and
(C) shall be registered as a legal educational
entity in the country in which its headquarters is
located.
(3) Federal government support.--Notwithstanding paragraph
(2), the United States Government shall support the American
University of the Americas by--
(A) facilitating its founding, including its
registration as a legal educational entity;
(B) offering assistance with the development of
academic programs;
(C) providing needed financial assistance;
(D) advising the Center of Excellence for Combating
Corruption established pursuant to subsection (h); and
(E) retaining a seat on the Board for the Chief
Administrator of the Americas Investment Corporation.
(4) Authorized campuses.--
(A) In general.--Of the campuses of the American
University of the Americas authorized to be established
under paragraph (1)--
(i) 1 campus may be established in Central
America;
(ii) 1 campus may be established in the
Caribbean; and
(iii) 1 campus may be established in the
Southern Cone.
(B) Joint operations.--The 3 campuses established
pursuant to subparagraph (A) may share administrative,
legal, and academic resources.
(c) Host Country Selection.--
(1) Solicitation of proposals.--The Administrator shall
solicit proposals from Americas partner countries desiring to
host the American University of the Americas.
(2) Proposal contents.--Proposals submitted pursuant to
paragraph (1) shall--
(A) identify the proposed location of the
institution;
(B) evaluate the financial viability of the
institution;
(C) describe the support that the host government
is committed to provide to the institution;
(D) include a sustainability plan for the
institution;
(E) identify possible private-sector, nonprofit,
and other partners who have committed to work with the
institution;
(F) identify individuals who have agreed to serve
on the institution's board of directors, with letters
of commitment; and
(G) identify any local legislation that will need
to be enacted in order to establish the institution in
the host country, along with a plan to enact such
legislation.
(3) Grant.--
(A) In general.--The Administrator shall award a
grant to each country selected to host a campus of the
American University of the Americas to provide startup
funding.
(B) Eligible entities.--A grant authorized under
subparagraph (A) may be given to a university, the
ministry of higher education of the host country, or
any other organization that is capable of facilitating
the establishment of a campus of the American
University of the Americas in accordance with this
section.
(4) Legal registration.--After a country is selected to
host the American University of the Americas, the Administrator
shall formally register the institution in such country.
(d) Accreditation.--
(1) In general.--Not later than 5 years after the date on
which the American University of the Americas begins
operations, the institution shall seek accreditation with an
accrediting agency recognized by the Department of Education in
accordance with subtitle B of title 34, Code of Federal
Regulations.
(2) Foreign accreditation.--The representative of the
United States in the Americas Partnership business advisory
board established pursuant to section 202 shall encourage
collaboration with Americas partner countries to ensure the
accreditation of science, technology, engineering, math, and
medicine degrees with the appropriate education ministries or
departments of Americas partner country governments.
(e) Degrees; Coursework.--
(1) STEM and business development degrees.--Federal funding
for the American University of the Americas may only be used to
subsidize courses leading to a degree in science, technology,
engineering, math, medicine, business development, or
management. Prerequisites may only be allowed for coursework
related to such degrees.
(2) Exchange programs; virtual learning.--The American
University of the Americas shall offer exchange programs and
virtual learning programs.
(3) Languages.--The languages of instruction for the
American University of the Americas--
(A) shall be governed by local law and accompanying
regulations of accreditation agencies, with an effort
to assure fully bilingual graduates; and
(B) shall include the English language.
(f) Funding Limitation.--The American University of the Americas
may not accept any funding from the Government of the People's Republic
of China, the Government of the Republic of Cuba, the Government of the
Bolivarian Republic of Venezuela, the Government of the Russian
Federation, the Government of the Islamic Republic of Iran, or any
individual or institution working on behalf of any such government. If
any funding is accepted by the American University of the Americas in
violation of this subsection, the relationship between the United
States and the institution shall be immediately terminated.
(g) Centers of Excellence.--The American University of the Americas
shall include a Center of Excellence for Combating Corruption, Human,
and Other Trafficking and Organized Crime that carries out research and
pubic education related to corruption, money laundering (including
trade-based money laundering), human trafficking, drug trafficking, and
other related criminal activities in Americas partner countries and
throughout the Americas.
(h) Funding.--The Secretary of State may expend such sums as may be
necessary from the Re-shoring and Near-shoring Account established
under section 301 to carry out this section.
SEC. 265. UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT CARIBBEAN
AND LATIN AMERICAN SCHOLARSHIP PROGRAM III.
(a) In General.--The Administrator of the United States Agency for
International Development shall establish a scholarship program, which
be known as the Caribbean and Latin American Scholarship Program III--
(1) shall be modeled after the second phase of the
Caribbean and Latin American Scholarship Program (commonly
known as CLASP-II);
(2) shall offer full ride scholarships (including tuition,
fees, and reasonable accommodations) to qualifying students in
partner countries;
(3) shall offer bachelor's and master's degrees in science,
technology, engineering, math, and the English language; and
(4) shall require students--
(A) to study outside of their respective countries
of citizenship; and
(B) to commit to return to their respective
countries of origin following the completion of their
studies.
(b) Authorization of Appropriations.--There is authorized to be
appropriated, from the Re-shoring and Near-shoring Account established
under section 301, $20,000,000 for fiscal year 2024 and each successive
fiscal year to carry out the scholarship program authorized under
subsection (a) in Americas partner countries.
SEC. 266. CONCERN FOR ADVANCED RETIRED AND ELDERLY NONIMMIGRANT VISA
PROGRAM FOR ALIENS WHO PROVIDE DIRECT CARE FOR ELDERLY
POPULATIONS.
(a) Findings.--Congress makes the following findings:
(1) In 2015, there were an estimated 47,800,000 individuals
in the United States who were 65 years of age or older, and by
2030, it is expected that there will be nearly 73,000,000
individuals in the United States who are 65 years of age or
older, which is approximately \1/5\ of the population.
(2) In 2020--
(A) 45 percent of individuals caring for an elderly
family member in the United States experienced
financial hardship as a result of such caregiving, of
whom 28 percent stopped saving and 22 percent exhausted
their personal short-term savings;
(B) 15 percent of United States workers
transitioned from full-time employment to part-time
employment due to the need to provide care for an
elderly family member;
(C) 6 percent of United States workers left the
workforce entirely to care for an elderly loved one;
and
(D) 27 percent of United States workers reported
finding affordable elder care services very difficult,
and 33 percent of such workers reported finding such
services moderately difficult.
(3) If working family caregivers aged 50 years and older
are provided the support they need to care for their loved
ones, the gross domestic product of the United States could
grow by an additional $1,700,000,000,000 by 2030.
(4) In the United States, nursing assistants and home
health aides--
(A) comprise the largest group of workers in the
long-term care workforce; and
(B) are among the 10 occupations experiencing the
highest levels of job growth.
(5) In 2014, there were approximately 1,220,000 nursing
assistants and 704,500 home health aides in the United States.
(6) The need for workers providing direct care for elderly
populations is expected to grow by 34 percent by 2030, which is
significantly higher than the capacity of United States workers
to fill the need.
(b) Sense of Congress.--It is the sense of Congress that--
(1) the increasing care needs of the elderly population of
the United States is of increasing significance, both in terms
of cost and time, as United States family size decreases and
the overall population ages; and
(2) the establishment of a nonimmigrant visa category to
increase the availability of caregivers and lower the cost of
caring for the elderly will allow the family members of the
elderly, particularly women and single heads of household who
historically have taken a greater role in caring for elderly
parents, to continuing working rather than taking on a
caregiving role.
(c) Concern for Advanced Retired and Elderly Nonimmigrant Visa
Program.--
(1) In general.--Section 101(a)(15) of the Immigration and
Nationality Act (8 U.S.C. 1101(a)(15)) is amended--
(A) in subparagraph (T)(ii)(III), by striking the
period at the end and inserting a semicolon;
(B) in subparagraph (U)(iii), by striking ``or'' at
the end;
(C) in subparagraph (V)(ii)(II), by striking the
period at the end and inserting ``; or''; and
(D) by adding at the end the following:
``(W) subject to section 214(s), an alien who seeks
admission to the United States temporarily for the purpose of
providing direct care, as a nursing assistant, a home health
aide, a personal care aide, a psychiatric assistant or aide, a
mobility assistant, or a child care provider, for 1 or more
individuals who are--
``(i) retired or elderly;
``(ii) receiving--
``(I) disability insurance benefits under
section 223 of the Social Security Act (42
U.S.C. 423) or monthly insurance benefits under
section 202 of such Act (42 U.S.C. 402) based
on such individuals' disability; or
``(II) supplemental security income
benefits under title XVI of the Social Security
Act (42 U.S.C. 1381 et seq.) on the basis of
blindness or disability; or
``(iii) too young to be eligible for a free public
education (as defined in section 8101 of the No Child
Left Behind Act of 2001 (20 U.S.C. 7801) in the State
or territory in which such individuals are residing.''.
(2) Requirements applicable to the concern for advanced
retired and elderly nonimmigrant visa program.--Section 214 of
the Immigration and Nationality Act (8 U.S.C. 1184) is amended
by adding at the end the following:
``(s) Concern for Advanced Retired and Elderly (CARE) Nonimmigrant
Visa Program.--
``(1) Defined term.--The term `CARE visa' means a visa
issued to an alien described in section 101(a)(15)(W) in
accordance with the requirements under this section.
``(2) Selection of applicants.--
``(A) In general.--The Secretary of State, in
coordination with the Attorney General, the Secretary
of Homeland Security, the Secretary of Labor, and the
Secretary of Health and Human Services, shall work with
the Americas partner country (as defined in section 2
of the Americas Act) to identify, vet, train, and
certify applicants for CARE visas.
``(B) Application process.--
``(i) In general.--The Secretary of State,
in coordination with the Americas partner
country and private entities, shall establish a
process by which an alien may apply to be
considered for a CARE visa.
``(ii) Certification required.--
``(I) In general.--The Secretary of
State may not approve an application
for a CARE visa unless the alien has
first applied to the Secretary of Labor
for, and obtained, a certification
that--
``(aa) there are not
sufficient workers who are
able, willing, and qualified,
and who will be available at
the time and place needed, to
perform the labor or services
involved in the application;
and
``(bb) the employment of
the alien in such labor or
services will not adversely
affect the wages and working
conditions of workers in the
United States similarly
employed.
``(II) Fees.--The Secretary of
Labor may require, by regulation, as a
condition of issuing a certification
under clause (i), the payment of a fee
to recover the reasonable costs of
processing applications for
certification.
``(C) Training.--With respect to each alien
selected to apply for a CARE visa, the Secretary of
State shall coordinate with the Secretary of Labor and
the applicable Americas partner country to provide
training on direct care of individuals described in
section 101(a)(15)(W)--
``(i) in the primary language of the
Americas partner country, as applicable;
``(ii) with respect to the direct care of
retired or elderly individuals, in accordance
with the standards applicable to a nurse aide
training and competency evaluation program
under sections 483.152 and 483.154 of title 42,
Code of Federal Regulations (or successor
regulations); and
``(iii) for the purpose of serving
temporarily as a nursing assistant, home health
aide, personal care aide, psychiatric
assistant, mobility assistant, or child care
provider in the United States.
``(D) Competency evaluation and certification.--
``(i) In general.--On completion of the
training provided under subparagraph (B), an
alien seeking a CARE visa for the purpose of
providing direct care for an alien described in
section 101(a)(15)(W)(i) shall be evaluated for
competency in accordance with the standards
applicable to a nurse aide training and
competency evaluation program under sections
483.152 and 483.154 of title 42, Code of
Federal Regulations (or successor regulations).
``(ii) Certification.--If the Secretary of
State makes a determination that an individual
described in clause (i) has attained competency
in accordance with the standards referred to in
such clause, the Secretary may certify such
individual for a CARE visa.
``(E) Numerical limitation.--Not more than 50,000
CARE visas may be issued annually under this
subsection.
``(3) Prohibitions.--The Secretary of State may not issue a
CARE visa to any individual who--
``(A) has not been certified under paragraph
(2)(C)(ii) (unless such individual will only be
providing direct care to an individual described in
clause (ii) or (iii) of section 101(a)(15)(W)); or
``(B) has not completed security and law
enforcement background checks to the satisfaction of
the Secretary of Homeland Security.
``(4) English language not required.--The issuance of a
CARE visa or the admission of an alien to the United States
pursuant to a CARE visa may not be conditioned on English-
language competency.
``(5) Period of authorized admission.--The period of
authorized admission for a nonimmigrant described in section
101(a)(15)(W) who has been issued a CARE visa shall be not more
than 7 years and may not be renewed or extended for any
reason.''.
(3) Protections for victims of trafficking.--Section 203 of
the William Wilberforce Trafficking Victims Protection
Reauthorization Act of 2008 (8 U.S.C. 1375c) is amended--
(A) in the section heading, by striking ``and g-5''
and inserting ``, g-5, and care'';
(B) in subsection (a)--
(i) in the subsection heading, by striking
``and G-5'' and inserting ``, G-5, and CARE'';
and
(ii) in paragraph (1)--
(I) in subparagraph (A)--
(aa) by striking
``subsection (d)(2)'' and
inserting ``subsection
(b)(2)''; and
(bb) by striking ``; or''
and inserting a semicolon;
(II) in subparagraph (B), by
striking the period at the end and
inserting ``; and''; and
(III) by adding at the end the
following:
``(C) a CARE visa unless the applicant is employed,
or has signed a contract to be employed to provide
direct care, as a nursing assistant, a home health
aide, a personal care aide, a psychiatric assistant or
aide, a mobility assistant, or a child care for
individual described in section 101(a)(15)(W) of the
Immigration and Nationality Act (8 U.S.C.
1101(a)(15)(W)).'';
(C) in subsection (b)--
(i) in the subsection heading--
(I) by striking ``and G-5'' and
inserting ``, G-5, and CARE''; and
(II) by striking ``Employed by
Diplomats and Staff of International
Organizations'';
(ii) in paragraph (1), in the matter
preceding subparagraph (A), by striking ``or a
G-5 visa'' and inserting ``, a G-5 visa, or a
CARE visa''; and
(iii) in paragraph (4)(A), by striking ``or
a G-5 visa'' and inserting ``, a G-5 visa, or a
CARE visa'';
(D) in subsection (c)(1)--
(i) in subparagraph (A), by striking ``or a
G-5 visa'' and inserting ``, a G-5 visa, or a
CARE visa''; and
(ii) in subparagraph (C)--
(I) by striking ``or a G-5 visa''
and inserting ``, a G-5 visa, or a CARE
visa''; and
(II) by striking ``or G-5
nonimmigrant'' and inserting ``, G-5,
or CARE nonimmigrant'';
(E) in subsection (e), by striking ``or a G-5
visa'' and inserting ``, a G-5 visa, or a CARE visa'';
and
(F) in subsection (f), by adding at the end the
following:
``(5) CARE visa.--The term `CARE visa' means a nonimmigrant
visa issued pursuant to subparagraph (W) of section 101(a)(15)
of the Immigration and Nationality Act (8 U.S.C.
1101(a)(15)).''.
(d) Authorization To Hire Additional Embassy Personnel.--The
Secretary of State may increase the number of foreign service officers
stationed at United States embassies in order to ensure the efficient
adjudication of visa applications associated with the Concern for
Advanced Retired and Elderly nonimmigrant visa program.
SEC. 267. SENSE OF CONGRESS ON TN VISA PROGRAM.
It is the sense of Congress that the President should incorporate
into the periodic review of the USMCA for 2026 a discussion of the
establishment of a TN visa category for low-skill workers.
SEC. 268. ASSESSMENT OF VISA WAIVER PROGRAM ELIGIBILITY FOR URUGUAY AND
COSTA RICA.
Not later than 90 days after the date of the enactment of this Act,
the Secretary of Homeland Security, in consultation with the Secretary
of State, shall submit to Congress a report that includes--
(1) an assessment as to whether Uruguay meets the
eligibility criteria for designation as a program country for
purposes of the visa waiver program under section 217 of the
Immigration and Nationality Act (8 U.S.C. 1187);
(2) an assessment as to whether Costa Rica meets such
eligibility criteria; and
(3) in the case of an assessment that Uruguay or Costa Rica
does not meet such eligibility criteria, a description of the
actions required of such country in order to meet such
criteria.
SEC. 269. RADIO FREE AMERICAS.
(a) Authority.--The Secretary of State, the Administrator of the
United States Agency for International Development, the Secretary of
Commerce, or the head of any other relevant Federal department may
award annual grants to a country in Latin America or the Caribbean for
the purpose of carrying out a broadcasting service, which--
(1) shall be known as ``Radio Free Americas'';
(2) shall consist of radio, television, social media, and
other public communications efforts; and
(3) may not result in any curtailment of the ongoing work
of Radio Marti.
(b) Functions.--Radio Free Americas shall--
(1) provide accurate and timely information, news, and
commentary about events in the Americas and in other places
around the world; and
(2) be a forum for a variety of opinions and voices from
within nations in the Western Hemisphere whose people do not
fully enjoy freedom of expression.
(c) Grant Agreement.--
(1) In general.--Any grant awarded under this section shall
be subject to the limitations and restrictions set forth in
paragraphs (2) through (5).
(2) Location of headquarters.--No grant may be awarded
under this section unless the headquarters of Radio Free
Americas and its senior administrative and managerial staff are
in a location that ensures economy, operational effectiveness,
and accountability to the United States Government.
(3) Obligations.--Any agreement governing a grant awarded
under this section shall require that any contract entered into
by the grantee on behalf of Radio Free Americas specifies that
all obligations related to the functions described in
subsection (b) be assumed by Radio Free Americas and not by the
United States Government.
(4) Lease agreements.--Any such grant agreement shall
require that any lease agreements entered into by the grantee
on behalf of Radio Free Americas be assignable to the United
States Government, to the maximum extent possible.
(5) Limitation on activities; terminations.--Grants awarded
under this section shall be made pursuant to a grant
agreement--
(A) requiring that grant funds be used only for
activities in accordance with this section; and
(B) specifying that failure to comply with the
requirements under this section authorizes the
termination of the agreement without fiscal obligation
to the United States.
(d) Sense of Congress Regarding Administrative and Managerial
Costs.--It is the sense of Congress that administrative and managerial
costs for the operation of Radio Free Americas--
(1) should be kept to a minimum; and
(2) should not exceed the costs that would have been
incurred if Radio Free Americas had been operated as a Federal
entity rather than through a grantee.
(e) Assessment of the Effectiveness of Radio Free Americas.--Not
later than 3 years after the date on which initial funding is provided
for the purpose of operating Radio Free Americas, the Secretary of
State shall submit a report to the appropriate congressional committees
regarding--
(1) whether Radio Free Americas--
(A) is technically sound and cost-effective;
(B) consistently meets the standards for quality
and objectivity established under this section; and
(C) is received by a sufficient audience to warrant
its continued operations;
(2) the extent to which the information, news, and
commentary provided by Radio Free Americas is also being
received by the target audience from other credible sources;
and
(3) the extent to which the interests of the United States
are being served by maintaining the operations of Radio Free
Americas.
(f) Notification and Consultation Regarding Displacement of Voice
of America Broadcasting.--The Chief Executive Officer of the United
States Agency for Global Media shall notify the appropriate
congressional committees before--
(1) entering into any agreement for the utilization of
Voice of America transmitters, equipment, or other resources
that will significantly reduce the broadcasting activities of
the Voice of America in the Americas or in any other region in
order to accommodate the broadcasting activities of Radio Free
Americas; or
(2) entering into any agreements in regard to the
utilization of Radio Free Americas transmitters, equipment, or
other resources that will significantly reduce the broadcasting
activities of Radio Free Americas.
(g) Alternative Grantee.--If the Chief Executive Officer of the
United States Agency for Global Media determines that Radio Free
Americas is not carrying out the functions described in subsection (b)
in an effective and economical manner, the Chief Executive Officer may
award the grant to carry out such functions to another entity.
(h) Federal Status.--Nothing in this section may be construed to
make Radio Free Americas a Federal agency or instrumentality.
(i) Funding.--The Secretary of State may expend such sums as may be
necessary from the Re-shoring and Near-shoring Account established
under section 301 to carry out this section.
SEC. 270. BIENNIAL PRESIDENTIAL SUMMIT.
Not less frequently than biennially, the President, in consultation
with the Secretary of State, shall host a summit for Americas partner
countries during which such countries shall highlight and showcase
successful investments, endeavors, and programs associated with
activities authorized under this Act.
TITLE III--REVENUE AND FINANCIAL MANAGEMENT
SEC. 301. RE-SHORING AND NEAR-SHORING ACCOUNT.
(a) In General.--There is established within the Treasury of the
United States an account to be known as the ``Re-shoring and Near-
shoring Account'' (in this section referred to as the ``Account''),
consisting of such amounts as are--
(1) appropriated pursuant to the authorization of
appropriations under subsection (c);
(2) deposited into or transferred to the Account as
specified in title II or subsection (c) of section 321 of
Tariff Act of 1930, as added by section 302; and
(3) credited to the Account under subsection (d).
(b) Use of Amounts.--Amounts in the Account shall be available,
without further appropriation, to carry out titles I and II.
(c) Authorization of Appropriations.--
(1) In general.--There are authorized to be appropriated
$500,000,000 for fiscal year 2024 for initial capitalization of
the Account.
(2) Reimbursement of treasury.--Not later than 2 years
after the date of the enactment of this Act, the Account shall
reimburse the treasury for the amount appropriated pursuant to
the authorization of appropriations under paragraph (1).
(d) Investment of Amounts.--
(1) In general.--Except as provided in paragraph (2), the
Secretary of the Treasury shall invest such portion of the
Account as is not required to meet current withdrawals in
interest-bearing obligations of the United States or in
obligations guaranteed as to both principal and interest by the
United States.
(2) Authorization of investment in other instruments.--
(A) In general.--The Secretary of the Treasury may
invest such portion of the Account as the Secretary
anticipates will be held in the Account for not less
than 2 years in equity securities or other securities
through a commercial bank if the Secretary determines
such investments are appropriate.
(B) Definitions.--In this paragraph, the terms
``equity security'' and ``security'' have the meanings
given those terms in section 3(a) of the Securities
Exchange Act of 1934 (15 U.S.C. 78c(a)).
(3) Interest and proceeds.--The interest on, and the
proceeds from the sale or redemption of, any obligations held
in the Account shall be credited to and form a part of the
Account.
SEC. 302. MODIFICATION OF TREATMENT OF DE MINIMIS ENTRIES OF ARTICLES.
Section 321 of Tariff Act of 1930 (19 U.S.C. 1321) is amended--
(1) by amending subsection (a)(2)(C) to read as follows:
``(C) in any other case, such amount as the
Secretary establishes under subsection (c)(1).''; and
(2) by adding at the end the following:
``(c) Treatment of De Minimis Entries.--
``(1) Reciprocity with respect to de minimis entries.--
``(A) Establishment of thresholds.--
``(i) In general.--Not later than 180 days
after the date of the enactment of the Americas
Act, the Secretary of the Treasury shall
prescribe regulations to establish dollar
amount thresholds, which may not exceed $800,
for de minimis entries for purposes of
subsection (a)(2)(C).
``(ii) Requirements.--The Secretary shall
establish a threshold under clause (i) for each
country that is equal to the sum of--
``(I) the dollar amount threshold
of that country for de minimis entries
from the United States; and
``(II) any related thresholds of
that country, such as a threshold
relating to a value-added tax on
imports.
``(iii) Publication; notification.--Not
later than 180 days after the date of the
enactment of the Americas Act, and annually
thereafter, the Secretary shall--
``(I) publish the threshold
established under clause (i) in the
Federal Register; and
``(II) notify the governments of
foreign countries of the threshold.
``(B) Transfer of amounts attributable to de
minimis entries to re-shoring and near-shoring
account.--
``(i) In general.--The Secretary of the
Treasury shall transfer to the Re-shoring and
Near-shoring Account established under section
301 of the Americas Act from the general fund
of the Treasury, for fiscal year 2024 and each
fiscal year thereafter, an amount equivalent to
the amount received into the general fund
during that fiscal year that the Secretary
determines is attributable to revenue received
as a result of the dollar amount thresholds
established under subparagraph (A).
``(ii) Frequency of transfers.--The
Secretary shall transfer amounts required by
clause (i) to be transferred to the Re-shoring
and Near-shoring Account not less frequently
than quarterly.
``(2) Prohibition on de minimis entries from certain
countries.--
``(A) In general.--Not later than one year after
the date of the enactment of the Americas Act, and
annually thereafter, the Secretary of the Treasury
shall publish a list of countries the articles of which
are not eligible for entry under subsection (a)(2)(C).
``(B) Criteria for inclusion.--
``(i) In general.--Not later than 180 days
after the date of the enactment of the Americas
Act, the Secretary shall establish, and submit
to Congress a report on, the conditions for
including a country on the list required by
subparagraph (A).
``(ii) Considerations.--In establishing
under clause (i) conditions for including a
country on the list required by subparagraph
(A), the Secretary shall consider the
following:
``(I) Violations by the country of
the Act entitled `An Act to ensure that
goods made with forced labor in the
Xinjiang Autonomous Region of the
People's Republic of China do not enter
the United States market, and for other
purposes', approved December 23, 2021
(Public Law 117-78; 135 Stat. 1525)
(commonly referred to as the `Uyghur
Forced Labor Prevention Act').
``(II) Transshipment through the
country of goods from countries on the
list.
``(III) The exportation from the
country of counterfeit goods.
``(IV) Whether the government of
the country is committed to the fight
against trafficking in persons, illegal
narcotics, and terrorism, as
demonstrated by--
``(aa) the government of
the country not being listed
under subparagraph (C) of
section 110(b)(1) of the
Trafficking Victims Protection
Act of 2000 (22 U.S.C.
7107(b)(1)) (commonly referred
to as `tier 3') in the most
recent report on trafficking in
persons required under such
section (commonly referred to
as the `Trafficking in Persons
Report'); and
``(bb) certification by the
Department of State that the
government is participating in
the fight against illegal
narcotics and terrorism.
``(V) Harm to industry in the
United States.
``(VI) Public safety risks posed by
imports from the country to United
States consumers.
``(VII) The flow of narcotics from
the country into the United States.
``(VIII) Such other issues as the
Secretary considers appropriate.
``(C) Countries required to be included.--
``(i) In general.--The following countries
shall be included on the list required by
subparagraph (A), effective on the date of the
enactment of the Americas Act:
``(I) The People's Republic of
China.
``(II) The Russian Federation.
``(ii) Removal from list.--A country
specified in clause (i) may not be removed from
the list required by subparagraph (A) until the
Secretary certifies to Congress that the
government of the country has made progress
with respect to the considerations described in
subparagraph (B)(ii).
``(D) Removal.--
``(i) In general.--The government of a
country on the list required by subparagraph
(A) may petition the Secretary for removal from
the list.
``(ii) Response time.--The Secretary
shall--
``(I) respond to a petition
submitted under clause (i) not later
than 90 days after receiving the
petition; and
``(II) include in that response a
description of any measures the
government that submitted the petition
is required to undertake to be removed
from the list.
``(E) Consultations with congress.--The Secretary
shall consult with Congress before adding a country to
or removing a country from the list required by
subparagraph (A).
``(3) Limitations on eligibility of carriers for
importation of de minimis entries.--
``(A) In general.--An article is eligible for entry
under subsection (a)(2)(C) only if the article is
transported to the United States by a contract carrier
or customs broker.
``(B) Data requirements.--A contract carrier or
customs broker seeking to enter an article under
subsection (a)(2)(C) shall provide the following data
with respect to the article:
``(i) The heading or subheading of the
Harmonized Tariff Schedule of the United States
under which the article is classifiable.
``(ii) The country of origin of the
article.
``(iii) The country of manufacture of the
article (if different from the country of
origin under clause (ii)).
``(iv) The shipper of record.
``(v) The importer of record.
``(vi) A description of the article.
``(vii) The fair market value in the United
States of the article.
``(C) Collection of duties and taxes.--A contract
carrier or customs broker transporting articles
entering under subsection (a)(2)(C) shall be
responsible for collecting the duties and taxes owed
with respect to such articles and remitting those
duties and taxes to U.S. Customs and Border Protection.
``(D) Definitions.--In this paragraph:
``(i) Contract carrier.--The term `contract
carrier' means a private entity that--
``(I) is organized under the laws
of the United States or any
jurisdiction within the United States;
and
``(II) ships small packages into
the United States by air or land.
``(ii) Customs broker.--The term `customs
broker' means a person holding a valid customs
broker's license issued under section 641(b) of
the Tariff Act of 1930 (19 U.S.C. 1641(b)).
``(4) De minimis entry defined.--In this subsection, the
term `de minimis entry' means the entry of articles imported by
one person on one day with a fair retail value that does not
exceed--
``(A) in the case of articles entering the United
States, the applicable threshold established under
paragraph (1)(A); and
``(B) in the case of articles entering any other
country, an amount determined by the government of that
country to be de minimis.''.
TITLE IV--REPORTING AND BRANDING
SEC. 401. ANNUAL REPORT ON AMERICAS PROGRAM.
(a) In General.--Not later than December 31 of each year that
begins after the date of the enactment of this Act, the Secretary of
Commerce, in consultation with the officials specified in subsection
(b), shall submit to the Committee on Finance of the Senate and the
Committee on Ways and Means of the House of Representatives a report on
activities carried out under the Americas program during the preceding
fiscal year.
(b) Officials Specified.--The officials specified in this
subsection are the following:
(1) The Administrator of the United States Agency for
International Development.
(2) The United States Trade Representative.
(3) The Secretary of State.
(4) The Secretary of Homeland Security.
(5) Such other officials as the Secretary of Commerce
considers appropriate.
(c) Assessment of Activities Conducted in Preceding Year.--Each
report required by subsection (a) shall include the following for the
fiscal year covered by the report:
(1) A statement of the number of Americas partner
countries.
(2) An assessment of the effectiveness of loans and other
incentives provided under section 212 with respect to re-
shoring and near-shoring that includes an estimate of--
(A) the number of entities re-shored or near-
shored; and
(B) the number of jobs created in the United States
and Americas partner countries as a result of such re-
shoring and near-shoring.
(3) An assessment of the status of negotiations for the
expansion of the USMCA under section 222 that includes--
(A) an identification of the countries
participating in those negotiations;
(B) an estimate of the amount of trade between
those countries and the United States; and
(C) an identification of any significant challenges
relating to those negotiations.
(4) An assessment of the status of negotiations for the
expansion of countries that are CBTPA beneficiary countries (as
defined in section 213(b)(5) of the Caribbean Basin Economic
Recovery Act (19 U.S.C. 2703(b)), as amended by section 224)
that includes--
(A) an identification of the countries
participating in those negotiations;
(B) an estimate of the amount of trade between
those countries and the United States; and
(C) an identification of any significant challenges
relating to those negotiations.
(5) An assessment of the activities of the BUILD Americas
Unit that includes--
(A) a description of the financial instruments used
under section 252 and the amounts issued under such
instruments;
(B) an assessment of the repayment rates;
(C) a copy of each grant, loan, guaranty, or
insurance agreement;
(D) a list of projects carried out using such
grants, loans, guaranties, or insurance; and
(E) a statement of the amount expended by the
Corporation and the amount provided to the Re-shoring
and Near-shoring Account established under section 301.
(6) An assessment of the activities of the Americas
Partnership Enterprise Fund established under section 253 that
includes--
(A) an identification of the country in which the
Fund is registered;
(B) a copy of the registration documents for the
Fund;
(C) a description of the grants, loans, and
technical assistance provided by the Fund; and
(D) an assessment of the repayment rate of loans
provided by the Fund.
(7) An assessment of activities carried out under section
254 relating to near-shoring of strategic supply chains.
(8) An assessment of activities carried out by the Office
of Energy of the Export-Import Bank of the United States
established under section 2(b)(1)(C) of the Export-Import Bank
Act of 1945, as amended by section 255(b).
(9) An assessment of activities carried out by the United
States International Development Finance Corporation under
title II, including activities of the Chief Energy Officer of
the United States International Development Finance Corporation
established under subsection (j) of section 1413 of the BUILD
Act, as added by section 255(a).
(10) An assessment of humanitarian and business development
assistance provided under section 261 that includes--
(A) a list of the recipients of such assistance;
and
(B) a description of the assistance provided.
(11) A description of the cultural affairs programming
provided under section 262.
(12) An assessment of efforts conducted under section 263
to increase the number of Peace Corps volunteers in Americas
partner countries that includes an identification of the number
of such volunteers and the countries to which such volunteers
are assigned.
(13) An assessment of activities carried out under section
264 relating to the American University of the Americas that
includes--
(A) a list of campus locations;
(B) the number of students attending each such
campus; and
(C) a list of degrees offered by the university.
(14) An assessment of the programming provided by the
United States Agency for Global Media under section 269 that
includes--
(A) a list of programs provided; and
(B) an assessment of the number and locations of
listeners to such programs.
(15) If a summit was conducted under section 270 in the
year preceding the submission of the report--
(A) an assessment of the success of the summit;
(B) the location of the summit; and
(C) an identification of the attendees of the
summit.
(d) Financial Projections for Upcoming Year.--Each report required
by subsection (a) shall include a projection of the amount of funds
required for the fiscal year that begins after submission of the
report, disaggregated by agency and purpose.
SEC. 402. BRANDING AND MARKETING FOR AMERICAS PROGRAM.
Branding and marketing for the Americas program shall be conducted
in a manner consistent with the Visibly American branding policies of
the Department of State.
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