Sec. 601. Technical assistance to improve accounting, disclosure, and economic measurement practices in the territories
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The Secretary of the Treasury (referred to in this section as the Secretary ) shall provide technical assistance to the territories of the United States (including the Commonwealth of Puerto Rico) to provide for improved accounting and disclosure practices in the applicable territory. In providing technical assistance under subsection (a), the Secretary, in consultation with any appropriate economic measurement agency and economic statistical agency of the Federal Government and the Federal Reserve Bank of New York, may provide assistance relating to— information technology upgrades; improving economic forecasting capabilities; improving and expanding economic indicators for the territory in order to bring the indicators into line with the indicators regularly used to track regional conditions in the United States; budgeting, cash management, and spending controls; and ensuring that agencies in the territory use financial systems that are compatible with the systems of other agencies of the territory to provide for consistent, timely financial reporting and visibility into expenses.
There are authorized to be appropriated such sums as are necessary to carry out this section for the period of fiscal years 2016 through 2019.