Sec. 7. Bureau of economic analysis data regarding affected jurisdictions and Freely Associated States
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The Director of the Bureau of Economic Analysis of the Department of Commerce shall conduct an annual assessment and analysis of the economies of the following: Affected jurisdictions (as such term is defined under section 104(e)(2)(A) of the Compact of Free Association Amendments Act of 2003 ( 48 U.S.C. 1921c(e)(2)(A) )). The Republic of the Marshall Islands, the Federated States of Micronesia, and the Republic of Palau. In conducting the economic assessment and analysis required by subsection (a), the Director shall— consult with— the Secretary of the Interior; the Director of the Bureau of the Census; the Commissioner of the Bureau of Labor Statistics of the Department of Labor; other Federal agencies as the Director considers appropriate; and local government agencies in the affected jurisdictions described in subsection (a)(1); and consider the following:
The gross domestic product of each of the affected jurisdictions and Freely Associated States described in subsection (a). Remittance transfers from citizens of the Freely Associated States described in subsection (a)(2), the recipient of which is located in any country other than the United States. Government or similar public services consumed by citizens of the Freely Associated States described in subsection (a)(2) residing in the United States. Refundable tax credits, tax deductions, or similar advantageous tax code provisions for low-income households, including the earned income tax credit under section 32 of the Internal Revenue Code of 1986 and the child tax credit under section 24 of the Internal Revenue Code of 1986 claimed by citizens of the Freely Associated States described in subsection (a)(2) in Federal tax returns filed in the United States.
Impact of citizens of the Freely Associated States described in subsection (a)(2) who are residing in the affected jurisdictions described in subsection (a)(1) on the local labor market, wages, and unemployment rate in such affected jurisdictions. Foreign direct investment by industrial sectors, by country of investor, and by type of transaction. Other contributing components of the economies of such affected jurisdictions and Freely Association States described in subsection
(a)as the Director considers appropriate. Not later than 1 year after the date of the enactment of this Act and each year thereafter, the Director shall make available to the Congress and the public on a government website an annual report on the findings of the Director with respect to the economic assessment and analysis conducted under this section.
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Sec. 7
Bureau of economic analysis data regarding affected jurisdictions and Freely Associated States
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