,i #aaith ,,congress #ast ,session ,h4 ,r4 #aaad ,,in ,,the ,,house ,,of ,,representatives ,february #g1 #bjbe,mrs4 ,cherfilus-,mc,cormick 7for herself1 ,ms4 ,schakowsky1 and ,mr4 ,jackson of ,illinois7 introduced the following bill2 which was referred to the ,committee on ,foreign ,affairs1 and in addition to the ,committee on ,ways and ,means1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to authorize the establishment of a ,haitian ,american ,enterprise ,fund for ,haiti1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,l',ouverture ,economic ,development ,plan for ,haiti ,act of #bjbe4 #b4 ,findings ,congress finds the following3 7#a7 ,the ,general ,secretariat of the ,organization of the ,american ,states stated in #bjbb1 ,the international community1 international financial institutions1 the multilateral system1 and the international financial community of donor countries must make a decision3 whether they want to industrialize ,haiti sufficiently to ensure work for nine million ,haitians1 or whether it is economically more profitable to continue absorbing ,haitian migrants and let host countries accommodate them as and how they can and in such economic conditions as they can offer44 7#b7 ,rather than building upon the ongoing lucrative trade relations with a newly independent ,republic of ,haiti in #ahjd1 the ,united ,states decided to impose a trade embargo on the nascent state in #ahjf because ,haiti's independence ended chattel slavery in its land and perceived it as a threat because it became the world's first ,black republic4 7#c7 ,after its independence1 ,haiti was made to pay an indemnity to ,france1 its former colonial power1 beginning in #ahbe1 for breaking away from slavery1 which amounts to at least #ba1jjj1jjj1jjj today1 setting the stage for ,haiti's dire impoverishment today4 7#d7 ,haiti's independence from ,france in #ahjd directly resulted in ,france selling the bulk of its possessions in mainland ,north ,america in what became the ,louisiana ,purchase1 fueling the westward expansion of the young ,united ,states to the ,pacific ,ocean in what is today ,states such as ,arkansas1 ,colorado1 ,iowa1 ,louisiana1 ,kansas1 ,montana1 ,missouri1 and ,nebraska4 7#e7 ,despite a tortured relationship1 ,haiti has long been a reliable partner of the ,united ,states4 ,for example1 after the bombing of ,pearl ,harbor in #aida1 ,haiti was among the first nations to join the ,united ,states in ,world ,war ,,ii and contributed funds to the ,united ,states effort4 7#f7 ,haiti bears a strategic importance to the ,united ,states due to its location in the ,western ,hemisphere4 7#g7 ,haitian ,americans continue to make important contributions to the ,united ,states economy and have played a significant role in education1 health care1 literature1 politics1 art1 and culture4 7#h7 ,the ,bureau of the ,census estimates that the ,haitian-,american population is #a4b million1 which many believe may be severely undercounted1 as persons of ,haitian descent have been coming to the ,united ,states since prior to the founding of the ,united ,states4 7#i7 ,the ,haitian ,american population plays a vital role in ,haiti's development efforts1 leveraging their resources1 expertise1 and networks to support education1 technology1 sustainable development1 resilience1 and prosperity in the country and could do much more in partnership with the ,united ,states ,government4 7#aj7 ,according to the ,world ,bank1 the ,haitian diaspora sent over #d1jjj1jjj1jjj in remittances to ,haiti in #bjbc1 equaling more than one-fifth of the country's gross domestic product with these remittances having a crucial role in ,haiti's economy1 providing a steady source of income for families in ,haiti1 contributing to poverty reduction1 amounting to more than the sum of yearly foreign assistance to the country4 7#aa7 ,haiti has played a pivotal role in ,afro-descendants' struggle for ,american values such as freedom in ,america1 the ,caribbean1 and ,african countries1 including the ,haitian ,american leaders such as ,w4,e4,b4 ,du,bois1 cofounder of the ,national ,association for the ,advancement of ,colored ,people1 who have contributed to the ,civil ,rights movement in the ,united ,states and across the world4 7#ab7 ,assisting ,haiti with a well-processed development program leading to sustainable economic development that keeps ,haitians at home is in the vital interest of the ,united ,states4 7#ac7 ,the ,united ,states should assist ,haiti in establishing sustainable inclusive development to meet the needs of all of its people1 instead of being drawn to the lure of debt-trap driven development promoted by the ,people's ,republic of ,china4 7#ad7 ,according to the ,united ,nations ,conference on ,trade and ,development1 ,haiti will need1 at minimum1 an estimate of #ai1cjj1jjj1jjj 7in #bjbj_/bjba dollars7 to meet key development metrics including to-- 7,a7 achieve #g percent annual ,,gdp growth2 7,b7 eliminate extreme poverty2 7,c7 double manufacturing growth2 7,d7 improve health and well-being2 7,e7 improve quality primary and secondary formal education leading to relevant and effective learning outcomes2 and 7,f7 protect environmental biodiversity4 #c4 ,purposes ,the purposes of this ,act are to promote and facilitate-- 7#a7 development of the ,haitian private sector1 particularly micro1 small1 and medium businesses1 the agriculture1 biodiversity1 construction1 energy1 finance1 manufacturing1 and tourism industries1 and ,u4,s4-,haitian joint ventures1 including the ,haitian-,american diaspora2 7#b7 policies and practices conducive to ,haitian private sector development through equity investments1 feasibility studies1 grants1 guarantees1 insurance1 loans1 technical assistance1 and training2 7#c7 an economic environment conducive for an accountable1 transparent1 and sustained democratic system of governance in ,haiti1 inclusive for its people1 in coordination with the ,global ,fragility ,act of #bjai 7section #eja of title ,v of division ,j of ,public ,law #aaf-id2 ,stat4 #cjfj72 and 7#d7 policies that engender conditions for an industrialized ,haiti sufficient to ensure work at full employment levels meeting ,united ,nations medium to high human development from human development index indicators for the people of ,haiti1 thereby reducing irregular migration flows from the country1 a ,united ,states national security concern4 #d4 ,statements of policy ,it is the policy of the ,united ,states to support the sustainable rebuilding and development of ,haiti in a manner that-- 7#a7 recognizes that the ,united ,states has longstanding historical1 economic1 and cultural ties to ,haiti1 with millions of ,americans tracing their heritage to the country1 and has a vested interest in ,haiti's stability and development2 7#b7 recognizes ,haitian independence1 self-reliance1 and sovereignty2 7#c7 acknowledges that it is in the ,united ,states national and regional security interest to assist a stable1 democratic and prosperous ,haiti that will consequently reduce irregular migration1 regional crime1 narcotics proliferation1 and insecurity2 7#d7 supports the restoration of democratic governance in ,haiti through free1 fair1 and transparent elections as an essential condition for reestablishing lasting security1 economic development1 and the national interests of ,haiti and the ,united ,states by-- 7,a7 supporting the self-determination of the ,haitian people and recognizing that the sovereign and national right of the citizens of ,haiti must be exercised free of interference2 7,b7 acknowledging that any political transition must come from a ,haitian-led solution2 and 7,c7 opposing any efforts to destabilize the state of ,haiti2 7#e7 supports democratic transition1 the strengthening of institutions1 good governance1 and the rule of law in ,haiti by-- 7,a7 assisting in strengthening ,haiti's institutions1 judiciary system1 governance structures and mechanisms to better respond to the needs of ,haitians2 7,b7 supporting anticorruption efforts2 7,c7 promoting press freedom2 7,d7 supporting the empowerment of ,haitian civil society2 7,e7 improving transparency and the independence of the media2 7,f7 preventing favorable treatment or influence on behalf of any individual1 entity1 or party in the selection by the ,haitian people of their future government2 and 7,g7 reducing violence against women and children and addressing human rights concerns1 including through the enforcement of sanctions imposed in accordance with the ,global ,magnitsky ,human ,rights ,accountability ,act 7#bb ,u4,s4,c4 #bfef note7 on individuals implicated in human rights violations and corruption2 7#f7 improves ,haiti's security by-- 7,a7 supporting the goals of the ,u4,s4 ,strategy to ,prevent ,conflict and ,promote ,stability #aj-,year ,plan for ,haiti report1 a derivative of the ,global ,fragility ,act of #bjai2 7,b7 supporting continued funding of the ,haitian ,national ,police2 7,c7 supporting ,haiti's and international efforts to assist the ,haitian ,national ,police in combating internal insecurity1 including gang violence2 7,d7 stemming the flow of illicit firearms trafficking from the ,united ,states to the ,caribbean1 including ,haiti2 7,e7 encouraging the development of civilian oversight of the ,haitian ,national ,police2 7,f7 encouraging the ,haitian ,national ,police to respect human rights and uphold anti-corruption measures in its practices2 and 7,g7 encouraging a ,disarmaments1 ,demobilization1 and ,reinsertion program to reduce criminality and protect the youth2 7#g7 addresses humanitarian needs by providing appropriate forms of assistance1 such as humanitarian assistance1 to the people of ,haiti by addressing urgent food security1 health1 and education needs as well as protecting women and children2 7#h7 spurs economic development by-- 7,a7 leveraging public and private source funding to address ,haiti's long term development goal and achieving ,united ,nations ,sustainable ,development ,goals2 7,b7 helping1 creating1 and enabling an environment that facilitates trade and investment in ,haiti2 7,c7 assisting in building the resilient and supportive physical infrastructure sector required for a stable and prosperous country1 including country-wide access to reliable electricity1 passable roads1 ports1 railroads1 water1 sanitation and health programs and digital infrastructure2 7,d7 reducing poverty and building prosperity by providing capacity building support to promote entrepreneurship and support small and medium-sized enterprises1 including participation of ,haitian women and youth in governmental and nongovernmental institutions and in economic development and governance assistance programs funded by the ,united ,states2 7,e7 supporting trade preferences with ,haiti1 including the preferences created through the ,haitian ,hemispheric ,opportunity ,through ,partnership ,act of #bjjf 7title ,v of division ,d of ,public ,law #aji-dcb2 #abj ,stat4 #caha7 and the ,haiti ,economic ,lift ,program ,act of #bjaj 7#ai ,u4,s4,c4 #bgjc et seq472 7,f7 assisting in building the long-term capacity of the ,government of ,haiti1 civil society1 local resource mobilization in ,haiti1 and the private sector to foster economic opportunities in ,haiti2 and 7,g7 fostering collaboration and activities between the ,haitian diaspora in the ,united ,states1 including dual citizens of ,haiti and the ,united ,states1 and the ,government of ,haiti1 local resource mobilization in ,haiti1 and the business community in ,haiti2 7#i7 encourages other countries1 along with bilateral and multilateral organizations1 to provide similar assistance and to work cooperatively with such countries and organizations to coordinate such assistance2 and 7#aj7 respects and helps restore the natural resources of ,haiti and strengthens community-level resilience to environmental and weather-related impacts4 #e4 ,haitian ,american ,enterprise ,fund for ,haiti 7a7 ,designation ,the ,president may designate a private1 nonprofit organization 7as described in section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf and exempt from tax under section #eja7;a7 of such code7 as the ,haitian ,american ,enterprise ,fund for ,haiti 7in this ,act referred to as the ,enterprise ,fund71 if the ,president-- 7#a7 determines that such organization has the ability to carry out the activities described in section #g2 and 7#b7 has consulted with the ,speaker and the minority leader of the ,house of ,representatives and the majority leader and the minority leader of the ,senate regarding such designation4 7b7 ,operation ,upon the designation of the ,enterprise ,fund under subsection 7a71 the ,chief ,executive ,officer of the ,united ,states ,international ,development ,finance ,corporation shall operate such ,fund4 7c7 ,consultation ,the ,chief ,executive ,officer may consult and coordinate with the ,administrator of the ,united ,states ,agency for ,international ,development regarding the ,enterprise ,fund4 7d7 ,private character of ,enterprise ,fund ,nothing in this ,act may be construed to make-- 7#a7 the ,enterprise ,fund an agency or establishment of the ,united ,states ,government2 or 7#b7 the officers and employees of the ,enterprise ,fund or members of the ,oversight ,panel officers or employees of the ,united ,states for purposes of title #e1 ,united ,states ,code4 #f4 ,oversight ,panel 7a7 ,in general ,the ,enterprise ,fund shall be monitored by a ,board of ,directors ,oversight ,panel 7hereafter referred to as the ,oversight ,panel7 composed of #i members4 7b7 ,composition 7#a7 ,appointments by ,chief ,executive ,officer ,the ,chief ,executive ,officer shall appoint to the ,oversight ,panel-- 7,a7 #e individuals who are not employed by the ,federal ,government and-- 7i7 are citizens of the ,united ,states2 or 7ii7 are citizens of the ,republic of ,haiti who-- 7,i7 primarily reside in the ,united ,states2 and 7,,ii7 have demonstrated respect for democracy and a free-market economy2 and 7,b7 #b individuals who are citizens of ,haiti who-- 7i7 are not citizens of the ,united ,states2 7ii7 have demonstrated respect for democracy and a free-market economy2 and 7iii7 have-- 7,i7 had a successful business career in private equity1 banking1 or finance in a developing economy2 or 7,,ii7 experience comparable to service on the board of directors of a fund that is similar to the ,enterprise ,fund and which earned a positive return on the amounts under the control of such fund4 7#b7 ,appointments by ,president ,the ,president shall appoint to the ,oversight ,panel #b individuals who are citizens of the ,united ,states1 who-- 7,a7 primarily reside in the ,united ,states2 and 7,b7 have demonstrated concern for and commitment to the economic development of ,haiti4 7c7 ,consultations ,the ,chief ,executive ,officer and members of the ,oversight ,panel are encouraged to consult extensively with-- 7#a7 representatives of similar enterprise funds established by the ,united ,states ,government1 in order to learn best practices relating to the start-up phase and ongoing business of an enterprise fund2 7#b7 representatives of multilateral institutions1 including the ,inter-,american ,development ,bank1 the ,world ,bank1 and the ,international ,monetary ,fund1 to coordinate support for infrastructure in ,haiti2 and 7#c7 leaders from the private sector1 civil society1 labor organizations1 human rights groups1 academia1 and environmental organizations in the ,united ,states and ,haiti4 #g4 ,investments for certain programs and projects 7a7 ,requirements for investments ,the ,enterprise ,fund may only provide investments in programs and projects that-- 7#a7 promote development of the ,haitian private sector1 particularly with respect to-- 7,a7 micro1 small1 and medium businesses2 7,b7 the agriculture1 biodiversity1 construction1 energy1 finance1 manufacturing1 and tourism industries2 and 7,c7 joint ventures between the ,united ,states and ,haiti or the ,haitian-,american diaspora1 including joint ventures that empower women and youth2 7#b7 promote policies and practices that facilitate the development of the ,haitian private sector through-- 7,a7 equity investments2 7,b7 feasibility studies2 7,c7 grants2 7,d7 guarantees2 7,e7 insurance2 7,f7 loans2 7,g7 technical assistance2 and 7,h7 training2 7#c7 facilitate an economic environment conducive for an accountable1 transparent1 and sustained democratic system of governance in ,haiti1 aligned with the ,global ,fragility ,strategy required in section #ejd7;a7 of the ,global ,fragility ,act of #bjai 7#bb ,u4,s4,c4 #ihjc7;a772 7#d7 build the resilient physical infrastructure required for ,haiti to be stable and prosperous1 including-- 7,a7 country-wide access to reliable electricity2 7,b7 electricity generation plants2 7,c7 passable roads and bridges2 7,d7 ports2 7,e7 railroads2 7,f7 hydrological dams2 7,g7 agriculture canals2 7,h7 storm water management systems2 7,i7 water infrastructure2 and 7,j7 sanitation and health programs and infrastructure2 7#e7 create a report that includes-- 7,a7 the cost to update the physical infrastructure described in paragraph 7#d7 in ,haiti to meet resilience standards2 and 7,b7 an analysis of completed physical infrastructure projects2 7#f7 assist in leveraging public and private funding to address development needs in ,haiti2 or 7#g7 engender conditions for development and industrialization1 create sustainable jobs1 or reduce the root cause of irregular migrations in ,haiti4 7b7 ,authorized activities ,the ,enterprise ,fund may make investments in and encourage-- 7#a7 increased access to consumer credit in ,haiti1 including from consumer credit unions 7also known as caisse populaires72 7#b7 the establishment of local agriculture cooperatives in ,haiti2 7#c7 the establishment of major electricity generation facilities and complementary regional and national electricity grids in ,haiti2 7#d7 the establishment of working global manufacturing facilities1 including facilities manufacturing-- 7,a7 food2 7,b7 beverages2 7,c7 tobacco2 7,d7 chemicals2 7,e7 pharmaceuticals2 7,f7 electronics2 7,g7 optical products2 7,h7 textiles2 7,i7 apparel2 and 7,j7 leather2 7#e7 projects providing modern information technology infrastructure required to deliver and monitor development services to economically vulnerable populations in ,haiti2 and 7#f7 projects providing management and technical capacity training and development to promote private sector development1 including training on effective management and governance4 7c7 ,financial instruments for investment in ,haiti 7#a7 ,in general ,the ,enterprise ,fund shall1 if practicable1 establish financial instruments to enable individuals to invest in the ,haitian private sector4 7#b7 ,preferred investments ,if practicable1 the financial instruments established under paragraph 7#a7 shall-- 7,a7 facilitate investment in projects that support development and humanitarian relief in ,haiti2 and 7,b7 support ,haitian businesses and employees4 7d7 ,investment priority ,in making investments under this section1 the ,enterprise ,fund shall give priority to industries identified by the ,government of ,haiti as priorities for the economic recovery and growth of ,haiti4 7e7 ,matters for consideration ,the ,enterprise ,fund shall take into account-- 7#a7 internationally recognized human rights1 including the rights of workers2 7#b7 environmental factors2 7#c7 the effect of the activities of the ,fund on the economy and labor market of the ,united ,states2 and 7#d7 the likelihood that the activity receiving investments from the ,enterprise ,fund will be commercially viable4 #h4 ,administration of funds 7a7 ,use of investment returns and payments ,the ,enterprise ,fund may use returns on the investments of the ,enterprise ,fund and payments to the ,enterprise ,fund to provide the investments described in section #g1 without transferring such returns or payments to the ,treasury and without further appropriation by ,congress4 7b7 ,ensuring ability ,to repay funds ,the ,chief ,executive ,officer shall provide investments in a manner that ensures that the ,enterprise ,fund will be able to repay the ,treasury as required by section #aa4 7c7 ,use of ,united ,states private venture capital 7#a7 ,in general ,the ,enterprise ,fund may conduct public offerings or private placements for the purpose of soliciting and accepting ,united ,states venture capital1 which may be used1 separately or together with funds appropriated to the ,enterprise ,fund1 for any lawful investment purpose that the ,chief ,executive ,officer considers appropriate to carry out this ,act4 7#b7 ,no private investor oversight ,acceptance of private venture capital does not authorize private investors to have a role in the oversight of the ,enterprise ,fund4 7#c7 ,distributions ,financial returns on ,enterprise ,fund investments that include private venture capital may be distributed1 at such times and in such amounts as the ,chief ,executive ,officer considers appropriate1 to the investors of such capital4 7d7 ,limitations 7#a7 ,payments to ,enterprise ,fund personnel ,no funds of the ,enterprise ,fund shall inure to the benefit of any ,oversight ,panel member1 officer1 or employee of the ,enterprise ,fund1 except as salary or reasonable compensation for services4 7#b7 ,use of ,federal funds for grants ,not more than #bj percent of ,federal funds made available to the ,enterprise ,fund may be used for investments in the form of grants4 7#c7 ,use of appropriated funds for costs and feasibility studies ,not more than #ae percent1 in total1 of funds appropriated to the ,enterprise ,fund may be used for operating costs and feasibility studies to assess commercial viability of activities and projects funded by the ,enterprise ,fund4 #i4 ,audits and recordkeeping 7a7 ,independent private audits ,the ,chief ,executive ,officer shall ensure that the ,enterprise ,fund is audited annually by an independent certified public accountant or independent licensed public accountant certified or licensed by a regulatory authority of a ,state or political subdivision of a ,state1 in accordance with generally accepted auditing standards4 7b7 ,government ,accountability ,office audits ,with respect to any year during which the ,enterprise ,fund is in possession of funds received from the ,united ,states ,government1 the ,comptroller ,general of the ,united ,states shall audit the financial transactions of the ,enterprise ,fund to identify waste1 fraud1 or abuse1 in accordance with such principles and procedures and under such rules and regulations as the ,comptroller ,general may prescribe4 7c7 ,recordkeeping requirements ,the ,chief ,executive ,officer shall ensure that-- 7#a7 each recipient of funds provided by the ,enterprise ,fund under section #g keeps-- 7,a7 a separate account for such funds2 7,b7 such records as may be reasonably necessary to fully disclose-- 7i7 the amount of such funds2 7ii7 the total amount of such funds received by such recipient2 7iii7 the total cost of the project or activity for which the ,enterprise ,fund provided such funds2 and 7iv7 the amount of the cost of the project or activity supplied by sources other than the ,enterprise ,fund2 and 7,c7 any other records that will facilitate an effective audit2 and 7#b7 the ,chief ,executive ,officer has access1 for the purpose of audit and examination1 to any record described in paragraph 7#a77;,b74 #aj4 ,reports 7a7 ,public report on ,enterprise ,fund activities ,not later than #ahj days after the establishment of the ,enterprise ,fund and annually thereafter until the ,enterprise ,fund terminates1 the ,chief ,executive ,officer shall make publicly available on the websites of the ,enterprise ,fund1 the ,united ,states ,international ,development ,finance ,corporation1 and the ,united ,states ,agency for ,international ,development a report describing the funds provided by the ,enterprise ,fund for activities and projects described in section #g1 with a written explanation of the commercial viability of each such activity and project4 7b7 ,report to ,congress on ,enterprise ,fund activities 7#a7 ,in general ,not later than #abj days after the end of the fiscal year during which the ,enterprise ,fund is established and annually thereafter until the ,enterprise ,fund terminates1 the ,chief ,executive ,officer shall submit to the appropriate congressional committees a report that-- 7,a7 describes the successes1 failures1 expenses1 activities1 funding1 and forecasted projections of the ,enterprise ,fund2 and 7,b7 includes the results of the audit required by section #i7;a74 7#b7 ,appropriate congressional committees defined ,in this section1 the term appropriate congressional committees means-- 7,a7 the ,committee on ,appropriations1 the ,committee on ,financial ,services1 and the ,committee on ,foreign ,affairs of the ,house of ,representatives2 and 7,b7 the ,committee on ,appropriations and the ,committee on ,foreign ,relations of the ,senate4 7c7 ,report on ,oversight ,panel duties ,not later than #ahj days after the date of the enactment of this ,act and annually thereafter until the ,enterprise ,fund terminates1 the ,oversight ,panel shall submit to ,congress and the ,president a report on the implementation of the duties of the ,oversight ,panel during the preceding year1 including a description of successes regarding implementation of the ,enterprise ,fund and challenges preventing the ,enterprise ,fund from meeting its full potential4 7d7 ,report after failure ,to repay ,not later than #abj days after the last day of any year in which the repayment to the ,treasury required by section #aa has not yet been completed1 the ,chief ,executive ,officer shall make publicly available a report that includes a comprehensive and detailed description of the operations1 activities1 financial condition1 and accomplishments of the ,enterprise ,fund during such year4 #aa4 ,termination ,not later than ,december #ca1 #bjca-- 7#a7 the ,chief ,executive ,officer shall repay from the ,enterprise ,fund to the ,treasury the full amount of funds the ,enterprise ,fund received from the ,united ,states ,government2 and 7#b7 the ,enterprise ,fund shall terminate4 #ab4 ,nonapplicability of other laws ,notwithstanding any other provision of law1 executive branch agencies may conduct programs and activities and provide services in support of the activities of the ,enterprise ,fund4 #ac4 ,authorization of appropriations ,there are authorized to be appropriated to carry out this ,act #a1jjj1jjj1jjj for each of fiscal years #bjbf through #bjca1 which shall be authorized to remain available until expended or until the ,enterprise ,fund terminates1 whichever occurs first4