§1911 Compensatory Adjustments

Summary

Provide certain U.S. federal programs to the Federated States of Micronesia and the Marshall Islands. These include services from agencies like the Federal Deposit Insurance Corporation, Small Business Administration, Economic Development Administration, Rural Electrification Administration, Job Partnership Training Act programs, Job Corps, and Commerce programs for tourism and marine resource development. Create two Investment Development Funds, one for each country, run by those governments with U.S. advice. For fiscal 1986, $20,000,000 is authorized for the Federated States of Micronesia (with $12,000,000 available for obligation in the first full fiscal year after the Compact’s effective date and $8,000,000 in the third full fiscal year). For the Marshall Islands, $10,000,000 is authorized (with $6,000,000 in the first full fiscal year and $4,000,000 in the third). These amounts are in addition to other Compact funds and counted with the sums referenced in section 236. The President may set up a Board of Advisors under agreements with the two governments to guide the funds. The two governments can send reports to Congress about financial harms from Title IV’s effect on Title Two. For fiscal years starting after September 30, 1990, Congress may appropriate up to $40,000,000 for the Federated States of Micronesia and up to $20,000,000 for the Marshall Islands to compensate for any such harm. At the end of the Compact’s initial 15-year term, any authorized but unappropriated amounts may still be appropriated, without keeping the original country split, based on either or both governments showing such adverse impacts.