
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 48USC1911]

 
              TITLE 48--TERRITORIES AND INSULAR POSSESSIONS
 
           CHAPTER 18--MICRONESIA, MARSHALL ISLANDS, AND PALAU
 
              SUBCHAPTER I--MICRONESIA AND MARSHALL ISLANDS
 
Sec. 1911. Compensatory adjustments


(a) Additional programs and services

    In addition to the programs and services set forth in Section 221 of 
the Compact, and pursuant to Section 224 of the Compact, the services 
and programs of the following U.S. agencies shall be made available to 
the Federated States of Micronesia and the Marshall Islands: The Federal 
Deposit Insurance Corporation, Small Business Administration, Economic 
Development Administration, the Rural Electrification Administration, 
Job Partnership Training Act [29 U.S.C. 1501 et seq.], Job Corps, and 
the programs and services of the Department of Commerce relating to 
tourism and to marine resource development.

(b) Investment Development Funds

    (1) In order to further close economic and commercial relations 
between the United States and the Federated States of Micronesia and the 
Marshall Islands, and in order to encourage the presence of the United 
States private sector in such areas, there are hereby created two 
Investment Development Funds, to be established and administered by the 
Federated States of Micronesia and the Marshall Islands respectively in 
consultation with the United States as follows:
        (i) For the Investment Development Fund for the Federated States 
    of Micronesia there is hereby authorized to be appropriated for 
    fiscal 1986, $20 million, backed by the full faith and credit of the 
    United States, of which $12 million shall be made available for 
    obligation for the first full fiscal year after the effective date 
    of the Compact, and of which $8 million shall be made available for 
    obligation for the third full fiscal year after the effective date 
    of the Compact.
        (ii) For the Investment Development Fund for the Marshall 
    Islands there is hereby authorized to be appropriated $10 million 
    for fiscal 1986, backed by the full faith and credit of the United 
    States, of which $6 million for the first full fiscal year after the 
    effective date of the Compact, and of which $4 million shall be made 
    available for obligation for the third full fiscal year after the 
    effective date of the Compact.

    (2) The amounts specified in this subsection shall be in addition to 
the sums and amounts specified in Articles I and III of Title Two of the 
Compact, and shall be deemed to be included in the sums and amounts 
referred to in section 236 of the Compact.

(c) Board of Advisors

    To provide policy guidance for the Funds established by subsection 
(b) of this section, the President is hereby authorized to establish a 
Board of Advisors, pursuant to appropriate agreements between the United 
States and the Federated States of Micronesia and the Marshall Islands.

(d) Further amounts

    The governments of the Federated States of Micronesia and the 
Marshall Islands may submit to Congress reports concerning the overall 
financial and economic impacts on such areas resulting from the effect 
of Title IV of this joint resolution upon Title Two of the Compact. 
There are hereby authorized to be appropriated for fiscal years 
beginning after September 30, 1990, such amounts as may be necessary, 
but not to exceed $40 million for the Federated States of Micronesia and 
$20 million for the Marshall Islands, as provided in appropriation acts, 
to further compensate the governments of such islands (in addition to 
the compensation provided in subsections (a) and (b) of this section) 
for adverse impacts, if any, on the finances and economies of such areas 
resulting from the effect of Title IV of this joint resolution upon 
Title Two of the Compact. At the end of the initial fifteen-year term of 
the Compact, should any portion of the total amount of funds authorized 
in this subsection not have been appropriated, such amount not yet 
appropriated may be appropriated, without regard to divisions between 
amounts authorized in this subsection for the Federated States of 
Micronesia and for the Marshall Islands, based on either or both such 
government's showing of such adverse impact, if any, as provided in this 
subsection.

(Pub. L. 99-239, title I, Sec. 111, Jan. 14, 1986, 99 Stat. 1799.)

                       References in Text

    The Compact, referred to in text, is the Compact of Free Association 
between the Government of the United States and the Governments of the 
Marshall Islands and the Federated States of Micronesia, which is 
contained in section 201 of Pub. L. 99-239, set out as a note under 
section 1901 of this title.
    The Job Training Partnership Act, referred to in subsec. (a), is 
Pub. L. 97-300, Oct. 13, 1982, 96 Stat. 1322, as amended, which is 
classified generally to chapter 19 (Sec. 1501 et seq.) of Title 29, 
Labor. For complete classification of this Act to the Code, see Short 
Title note set out under section 1501 of Title 29 and Tables.
    For Oct. 21, 1986, as the effective date of the Compact of Free 
Association with the Marshall Islands, and Nov. 3, 1986, as the 
effective date of the Compact of Free Association with the Federated 
States of Micronesia, referred to in subsec. (b)(1), see Proc. No. 5564, 
Nov. 3, 1986, 51 F.R. 40399, set out as a note under section 1801 of 
this title.
    This joint resolution, referred to in subsec. (d), is Pub. L. 99-
239, Jan. 14, 1986, 99 Stat. 1770, as amended, known as the Compact of 
Free Association Act of 1985. Title IV of this Act is set out as a note 
under section 1901 of this title. For complete classification of this 
Act to the Code, see Short Title note set out under section 1901 of this 
title and Tables.

                          Codification

    Section was formerly set out as a note under section 1681 of this 
title.

                  Section Referred to in Other Sections

    This section is referred to in section 1932 of this title.
