Chapter 18, Subchapter I, Part B—, Section 1921c, Subsection (h) · 48 U.S.C. Chapter 18 — MICRONESIA, MARSHALL ISLANDS, AND PALAU

Contents

(h)

(1)Not later than the end of the first full calendar year following enactment of this resolution, and not later than December 31 of each year thereafter, the President shall report to Congress regarding the Federated States of Micronesia and the Republic of the Marshall Islands, including but not limited to—

(A)general social, political, and economic conditions, including estimates of economic growth, per capita income, and migration rates;

(B)the use and effectiveness of United States financial, program, and technical assistance;

(C)the status of economic policy reforms including but not limited to progress toward establishing self-sufficient tax rates;

(D)the status of the efforts to increase investment including: the rate of infrastructure investment of U.S. financial assistance under the U.S.-FSM Compact and the U.S.-RMI Compact; non-U.S. contributions to the trust funds, and the level of private investment; and

(E)recommendations on ways to increase the effectiveness of United States assistance and to meet overall economic performance objectives, including, if appropriate, recommendations to Congress to adjust the inflation rate or to adjust the contributions to the Trust Funds based on non-U.S. contributions.

(2)During the year of the fifth, tenth, and fifteenth anniversaries of December 17, 2003, the Government of the United States shall review the terms of the respective Compacts and consider the overall nature and development of the U.S.-FSM and U.S.-RMI relationships including the topics set forth in subparagraphs (A) through (E) of paragraph (1). In conducting the reviews, the Government of the United States shall consider the operating requirements of the Government of the Federated States of Micronesia and the Government of the Republic of the Marshall Islands and their progress in meeting the development objectives set forth in their respective development plans. The President shall include in the annual reports to Congress for the years following the reviews the comments of the Government of the Federated States of Micronesia and the Government of the Republic of the Marshall Islands on the topics described in this paragraph, the President’s response to the comments, the findings resulting from the reviews, and any recommendations for actions to respond to such findings.

United States Government work; public domain under 17 U.S.C. § 105.