Sec. 4. THRIVE Recovery Board

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Not later than 60 days after the date of enactment of this Act, the President shall establish an advisory board, to be known as the Transform, Heal, and Renew by Investing in a Vibrant Economy Recovery Board , to advise the President and the heads of appropriate Federal departments and agencies regarding the implementation of this Act. The Board shall be composed of 20 members who, as determined by the President— provide diverse and fair representation from— impacted communities; allies identified by impacted communities;

Indigenous communities; and labor organizations; and are qualified, through education, training, and experience, to evaluate information relating to matters referred to the Board. The members of the Board shall be appointed by the President from among individuals recommended by interested individuals and entities. A member of the Board may not be an employee or former employee of the Federal Government. A member of the Board— shall be appointed to serve the Board for an initial term of 3 years; and may be reappointed to serve not more than 1 additional term of not longer than 3 years.

A vacancy on the Board— shall not affect the powers of the Board; and shall be filled in the same manner as the original appointment was made. The Board shall select a chairperson from among the members of the Board. Not later than 14 days after the date on which all members of the Board have been appointed, the Board shall hold the initial meeting of the Board. The Board shall meet at the call of the chairperson. A majority of members of the Board shall constitute a quorum, but a lesser number of members may hold hearings.

A member of the Board shall be— a full-time employee of the Board; and compensated at such rate as the President may establish, not to exceed the maximum amount of compensation payable to a member of the Senior Executive Service under section 5382(b) of title 5, United States Code. Not later than 120 days after the date of enactment of this Act, the Board shall develop and submit to the President proposed criteria for— precertification of existing Federal spending programs under section 5(c)(1)(A); and certification of existing and new Federal spending programs as qualified investment programs with respect to required investments, in accordance with section 5(d)(2).

Not later than 180 days after the date of enactment of this Act, the Board shall develop and submit to the President proposed criteria for certification of existing and new Federal spending programs as qualified investment programs with respect to high-road labor, equity, and environmental conditions, in accordance with section 5(d)(3)(A). In developing the proposed criteria relating to high-road labor, equity, and environmental conditions under clause (i), the Board shall— make the proposed criteria available for public comment; and host public hearings and other direct engagement opportunities for impacted communities and Indigenous communities.

Not later than 190 days after the date of enactment of this Act, the President shall publish in the Federal Register the proposed criteria developed by the Board under clause (i). Not less frequently than annually, the Board shall conduct a study of all matters relating to qualified investment programs. The study conducted by the Board under subparagraph

(A)shall include an evaluation of— any legislative or administrative actions (including with respect to investment requirements and other criteria under section 5(d)) carried out under this Act during the period covered by the study; the degree to which qualified investment programs have contributed to achieving the policy goals described in section 2(b); the effectiveness of the criteria relating to investment requirements established under section 5(d)(2) in achieving those policy goals; and practicable modifications to those requirements to better achieve those goals. The Board shall develop recommendations regarding— the method by which the President can effectuate the Agenda to Transform, Heal, and Renew by Investing in a Vibrant Economy established under section 2(c)(1) pursuant to the annual budget request submitted to Congress under section 1105 of title 31, United States Code; the means by which Federal spending programs may be certified under section 5(d) as qualified investment programs to receive public support under this Act; legislative and administrative actions (including with respect to investment requirements and other criteria) to best achieve the purpose and policy goals described in section 2; the effectiveness of the criteria relating to investment requirements established under section 5(d)(2) in achieving those policy goals; and modifications to those criteria, if any. Not less frequently than annually, the Board shall submit to the President and Congress a report that contains— a detailed statement of the findings and conclusions of the Board under paragraph (2); and the recommendations of the Board under paragraph (3). The President shall publish each report submitted by the Board under clause

(i)in the Federal Register. Not less frequently than once every 2 years, the Board shall submit to the President and Congress a report assessing— the degree of compliance by implementing entities with applicable high-road labor, equity, and environmental conditions; and the relative efficacy of enforcement by administering agencies of those high-road labor, equity, and environmental conditions. The Board shall conduct regular regional community impact assessments to gather information for each report submitted under clause (i). The Board may hold such hearings, meet and act at such times and places, take such testimony, and receive such evidence as the Board considers to be advisable to carry out this Act. The Board may secure directly from a Federal department or agency such information as the Board considers to be necessary to carry out this Act. On request of the chairperson of the Board, the head of a Federal department or agency shall provide any requested information to the Board. The Board may use the United States mails in the same manner and under the same conditions as other Federal departments and agencies. The Board may accept, use, and dispose of gifts or donations of services or property. The Federal Advisory Committee Act (5 U.S.C. App.) shall not apply to the Board.