[Congressional Record Volume 147, Number 139 (Tuesday, October 16, 2001)]
[House]
[Pages H6799-H6803]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




[[Page H6799]]



         CORAL REEF AND COASTAL MARINE CONSERVATION ACT OF 2001

  Mr. HYDE. Madam Speaker, I move to suspend the rules and pass the 
bill (H.R. 2272) to amend the Foreign Assistance Act of 1961 to provide 
for debt relief to developing countries who take action to protect 
critical coral reef habitats, as amended.
  The Clerk read as follows:

                               H.R. 2272

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. DEBT REDUCTION FOR DEVELOPING COUNTRIES WITH CORAL 
                   REEFS AND OTHER COASTAL MARINE RESOURCES.

       The Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq.) 
     is amended by adding at the end the following:

``PART VI--DEBT REDUCTION FOR DEVELOPING COUNTRIES WITH CORAL REEFS AND 
                     OTHER COASTAL MARINE RESOURCES

     ``SEC. 901. SHORT TITLE.

       ``This part may be cited as the `Coral Reef and Coastal 
     Marine Conservation Act of 2001'.

     ``SEC. 902. FINDINGS AND PURPOSES.

       ``(a) Findings.--The Congress finds the following:
       ``(1) It is the established policy of the United States to 
     support and seek the protection and restoration of natural 
     coastal marine areas, in particular coral reefs and other 
     critically imperiled coastal marine resources around the 
     world, as demonstrated by the establishment of the United 
     States Government's Coral Reef Task Force under Executive 
     Order 13089 (June 11, 1998) and by the emphasis given to 
     coral reefs at the Conference on Oceans held in Monterey, 
     California.
       ``(2) Coral reefs and other coastal marine resources 
     provide a wide range of benefits to mankind by--
       ``(A) harboring a major share of the world's marine 
     biological diversity, and by acting as seed-grounds and 
     nurseries for many deep-sea species; and
       ``(B) serving as the basis for major activities of critical 
     economic, social, and cultural importance, including fishing, 
     pharmaceutical research, recreation, tourism, and the natural 
     purification and recharge of waters.
       ``(3) International organizations and assistance programs 
     to conserve coral reefs and other coastal marine resources 
     have proliferated in recent years, but the rapid destruction 
     of these resources nonetheless continues in many countries.
       ``(4) Poverty and economic pressures on many developing 
     countries, including the burden of official debts, has 
     promoted inefficient, unsustainable over-exploitation of 
     coral reefs and other coastal marine resources, while also 
     denying necessary funds to protection efforts.
       ``(5) Reduction of official, government-to-government debts 
     can help reduce economic pressures for over-exploitation of 
     coral reefs and other coastal marine resources and can 
     mobilize additional resources for their protection.
       ``(b) Purposes.--The purposes of this part are--
       ``(1) to recognize the values received by United States 
     citizens from protection of coral reefs and other coastal 
     marine resources;
       ``(2) to facilitate greater protection of remaining coral 
     reefs and other coastal marine resources, and the recovery of 
     damaged areas, by providing for the alleviation of debt in 
     countries where these resources are located, thus allowing 
     for the use of additional resources to protect and restore 
     such coral reefs and other coastal marine resources, and to 
     reduce economic pressures that have led to unsustainable 
     exploitation; and
       ``(3) to ensure that resources freed from debt in such 
     countries are rechanneled to protection of coral reefs and 
     other coastal marine resources.

     ``SEC. 903. DEFINITIONS.

       ``In this part:
       ``(1) Administering body.--The term `administering body' 
     means the entity provided for in section 908(c).
       ``(2) Appropriate congressional committees.--The term 
     `appropriate congressional committees' means--
       ``(A) the Committee on International Relations and the 
     Committee on Appropriations of the House of Representatives; 
     and
       ``(B) the Committee on Foreign Relations and the Committee 
     on Appropriations of the Senate.
       ``(3) Beneficiary country.--The term `beneficiary country' 
     means an eligible country with respect to which the authority 
     of section 906(a) or paragraph (1) or (2) of section 907(a) 
     of this part is exercised.
       ``(4) Board.--The term `Board' means the board referred to 
     in section 910.
       ``(5) Coral.--The term `coral' means species of the phylum 
     Cnidaria, including--
       ``(A) all species of the orders Antipatharia (black 
     corals), Scleractinia (stony corals), Alcyonacea (soft 
     corals), Gorgonacea (horny corals), Stolonifera (organpipe 
     corals and others), and Coenothecalia (blue coral), of the 
     class Anthozoa; and
       ``(B) all species of the order Hydrocorallina (fire corals 
     and hydrocorals) of the class Hydrozoa.
       ``(6) Coral reef.--The term `coral reef' means any reef or 
     shoal composed primarily of corals.
       ``(7) Developing country with a coral reef or other coastal 
     marine resource.--The term `developing country with a coral 
     reef or other coastal marine resource' means--
       ``(A)(i) a country that has a per capita income of $725 or 
     less in 1994 United States dollars (commonly referred to as 
     `low-income country'), as determined and adjusted on an 
     annual basis by the International Bank for Reconstruction and 
     Development in its World Development Report; or
       ``(ii) a country that has a per capita income of more than 
     $725 but less than $8,956 in 1994 United States dollars 
     (commonly referred to as `middle-income country'), as 
     determined and adjusted on an annual basis by the 
     International Bank for Reconstruction and Development in its 
     World Development Report; and
       ``(B) a country that contains at least one coral reef or 
     other coastal marine resource that is of conservation 
     concern.
       ``(8) Eligible country.--The term `eligible country' means 
     a country designated by the President in accordance with 
     section 905.
       ``(9) Coral reef and other coastal marine resources 
     agreement.--The term `Coral Reef and Other Coastal Marine 
     Resources Agreement' or `Agreement' means an Coral Reef and 
     Other Coastal Marine Resources Agreement as provided for in 
     section 908.
       ``(10) Coral reef and other coastal marine resources 
     facility.--The term `Coral Reef and Other Coastal Marine 
     Resources Facility' or `Facility' means the Coral Reef and 
     Other Coastal Marine Resources Facility established in the 
     Department of the Treasury by section 904.
       ``(11) Coral reef and other coastal marine resources 
     fund.--The term `Coral Reef and Other Coastal Marine 
     Resources Fund' or `Fund' means a Coral Reef and Other 
     Coastal Marine Resources Fund provided for in section 909.

     ``SEC. 904. ESTABLISHMENT OF THE FACILITY.

       There is established in the Department of the Treasury an 
     entity to be known as the `Coral Reef and Other Coastal 
     Marine Resources Facility' for the purpose of providing for 
     the administration of debt reduction in accordance with this 
     part.

     ``SEC. 905. ELIGIBILITY FOR BENEFITS.

       ``(a) In General.--To be eligible for benefits from the 
     Facility under this part, a country shall be a developing 
     country with a coral reef or other coastal marine resource--
       ``(1) the government of which meets the requirements 
     applicable to Latin American or Caribbean countries under 
     paragraphs (1) through (5) and (7) of section 703(a) of this 
     Act; and
       ``(2) that has established investment reforms, as evidenced 
     by the conclusion of a bilateral investment treaty with the 
     United States, implementation of an investment sector loan 
     with the Inter-American Development Bank, World Bank-
     supported investment reforms, or other measures, as 
     appropriate.
       ``(b) Eligibility Determinations.--
       ``(1) In general.--Consistent with subsection (a), the 
     President shall determine whether a country is eligible to 
     receive benefits under this part.
       ``(2) Congressional notification.--The President shall 
     notify the appropriate congressional committees of the 
     intention of the President to designate a country as an 
     eligible country at least 15 days in advance of any formal 
     determination.

     ``SEC. 906. REDUCTION OF DEBT OWED TO THE UNITED STATES AS A 
                   RESULT OF CONCESSIONAL LOANS UNDER THIS ACT.

       ``(a) Authority to Reduce Debt.--
       ``(1) Authority.--The President may reduce the amount owed 
     to the United States (or any agency of the United States) 
     that is outstanding as of January 1, 1999, as a result of 
     concessional loans made to an eligible country by the United 
     States under this Act or predecessor foreign economic 
     assistance legislation.
       ``(2) Authorization of appropriations.--For the cost (as 
     defined in section 502(5) of the Federal Credit Reform Act of 
     1990) for the reduction of any debt pursuant to this section, 
     there are authorized to be appropriated to the President 
     $10,000,000 for each of the fiscal years 2002 through 2005.
       ``(3) Certain prohibitions inapplicable.--
       ``(A) In general.--A reduction of debt pursuant to this 
     section shall not be considered assistance for purposes of 
     any provision of law limiting assistance to a country.
       ``(B) Additional requirement.--The authority of this 
     section may be exercised notwithstanding section 620(r) of 
     this Act or section 321 of the International Development and 
     Food Assistance Act of 1975.
       ``(b) Implementation of Debt Reduction.--
       ``(1) In general.--Any debt reduction pursuant to 
     subsection (a) shall be accomplished at the direction of the 
     Facility by the exchange of a new obligation for obligations 
     of the type referred to in subsection (a) outstanding as of 
     the date specified in subsection (a)(1).
       ``(2) Exchange of obligations.--
       ``(A) In general.--The Facility shall notify the United 
     States Agency for International Development of an agreement 
     entered into under paragraph (1) with an eligible country to 
     exchange a new obligation for outstanding obligations.

[[Page H6800]]

       ``(B) Additional requirement.--At the direction of the 
     Facility, the old obligations that are the subject of the 
     agreement shall be canceled and a new debt obligation for the 
     country shall be established relating to the agreement, and 
     the United States Agency for International Development shall 
     make an adjustment in its accounts to reflect the debt 
     reduction.
       ``(c) Additional Terms and Conditions.--The following 
     additional terms and conditions shall apply to the reduction 
     of debt under subsection (a)(1) in the same manner as such 
     terms and conditions apply to the reduction of debt under 
     section 704(a)(1) of this Act:
       ``(1) The provisions relating to repayment of principal 
     under section 705 of this Act.
       ``(2) The provisions relating to interest on new 
     obligations under section 706 of this Act.

     ``SEC. 907. AUTHORITY TO ENGAGE IN DEBT-FOR-NATURE SWAPS AND 
                   DEBT BUYBACKS.

       ``(a) Loans and Credits Eligible For Sale, Reduction, or 
     Cancellation.--
       ``(1) Debt-for-nature swaps.--
       ``(A) In general.--Notwithstanding any other provision of 
     law, the President may, in accordance with this section, sell 
     to any eligible purchaser described in subparagraph (B) any 
     concessional loans described in section 906(a)(1), or on 
     receipt of payment from an eligible purchaser described in 
     subparagraph (B), reduce or cancel such loans or portion 
     thereof, only for the purpose of facilitating a debt-for-
     nature swap to support eligible activities described in 
     section 908(d).
       ``(B) Eligible purchaser described.--A loan may be sold, 
     reduced, or canceled under subparagraph (A) only to a 
     purchaser who presents plans satisfactory to the President 
     for using the loan for the purpose of engaging in debt-for-
     nature swaps to support eligible activities described in 
     section 908(d).
       ``(C) Consultation requirement.--Before the sale under 
     subparagraph (A) to any eligible purchaser described in 
     subparagraph (B), or any reduction or cancellation under such 
     subparagraph (A), of any loan made to an eligible country, 
     the President shall consult with the country concerning the 
     amount of loans to be sold, reduced, or canceled and their 
     uses for debt-for-nature swaps to support eligible activities 
     described in section 908(d).
       ``(D) Authorization of appropriations.--For the cost (as 
     defined in section 502(5) of the Federal Credit Reform Act of 
     1990) for the reduction of any debt pursuant to subparagraph 
     (A), amounts authorized to be appropriated under section 
     906(a)(2) shall be made available for such reduction of debt 
     pursuant to subparagraph (A).
       ``(2) Debt buybacks.--Notwithstanding any other provision 
     of law, the President may, in accordance with this section, 
     sell to any eligible country any concessional loans described 
     in section 906(a)(1), or on receipt of payment from an 
     eligible purchaser described in paragraph (1)(B), reduce or 
     cancel such loans or portion thereof, only for the purpose of 
     facilitating a debt buyback by an eligible country of its own 
     qualified debt, only if the eligible country uses an 
     additional amount of the local currency of the eligible 
     country, equal to not less than the lessor of 40 percent of 
     the price paid for such debt by such eligible country, or the 
     difference between the price paid for such debt and the face 
     value of such debt, to support eligible activities described 
     in section 908(d).
       ``(3) Limitation.--The authority provided by paragraphs (1) 
     and (2) shall be available only to the extent that 
     appropriations for the cost (as defined in section 502(5) of 
     the Federal Credit Reform Act of 1990) of the modification of 
     any debt pursuant to such paragraphs are made in advance.
       ``(4) Terms and conditions.--Notwithstanding any other 
     provision of law, the President shall, in accordance with 
     this section, establish the terms and conditions under which 
     loans may be sold, reduced, or canceled pursuant to this 
     section.
       ``(5) Administration.--
       ``(A) In general.--The Facility shall notify the 
     Administrator of the United States Agency for International 
     Development of eligible purchasers described in paragraph 
     (1)(B) that the President has determined to be eligible under 
     paragraph (1), and shall direct such agency to carry out the 
     sale, reduction, or cancellation of a loan pursuant to such 
     paragraph.
       ``(B) Additional requirement.--Such agency shall make an 
     adjustment in its accounts to reflect the sale, reduction, or 
     cancellation of such a loan.
       ``(b) Deposit of Proceeds.--The proceeds from the sale, 
     reduction, or cancellation of any loan sold, reduced or 
     canceled pursuant to this section shall be deposited in the 
     United States Government account or accounts established for 
     the repayment of such loan.

     ``SEC. 908. CORAL REEF AND OTHER COASTAL MARINE RESOURCES 
                   AGREEMENT.

       ``(a) Authority.--
       ``(1) In general.--The Secretary of State is authorized, in 
     consultation with other appropriate officials of the Federal 
     Government, to enter into a Coral Reef and Other Coastal 
     Marine Resources Agreement with any eligible country 
     concerning the operation and use of the Fund for that 
     country.
       ``(2) Consultation.--In the negotiation of such an 
     Agreement, the Secretary shall consult with the Board in 
     accordance with section 910.
       ``(b) Contents of Agreement.--The requirements contained in 
     section 708(b) of this Act (relating to contents of an 
     agreement) shall apply to an Agreement in the same manner as 
     such requirements apply to an Americas Framework Agreement.
       ``(c) Administering Body.--
       ``(1) In general.--Amounts disbursed from the Fund in each 
     beneficiary country shall be administered by a body 
     constituted under the laws of that country.
       ``(2) Composition.--
       ``(A) In general.--The administering body shall consist 
     of--
       ``(i) one or more individuals appointed by the United 
     States Government;
       ``(ii) one or more individuals appointed by the government 
     of the beneficiary country; and
       ``(iii) individuals who represent a broad range of--

       ``(I) environmental non-governmental organizations of, or 
     active in, the beneficiary country;
       ``(II) local community development non-governmental 
     organizations of the beneficiary country; and
       ``(III) scientific, academic, or forestry organizations of 
     the beneficiary country.

       ``(B) Additional requirement.--A majority of the members of 
     the administering body shall be individuals described in 
     subparagraph (A)(iii).
       ``(3) Responsibilities.--The requirements contained in 
     section 708(c)(3) of this Act (relating to responsibilities 
     of the administering body) shall apply to an administering 
     body described in paragraph (1) in the same manner as such 
     requirements apply to an administering body described in 
     section 708(c)(1) of this Act.
       ``(d) Eligible Activities.--Amounts deposited in a Fund 
     shall be used only to provide grants to conserve, maintain, 
     and restore the coral reefs and other coastal marine 
     resources in the beneficiary country, through one or more of 
     the following activities:
       ``(1) Establishment, restoration, protection, and 
     maintenance of parks, protected areas, and reserves.
       ``(2) Development and implementation of scientifically 
     sound systems of natural resource management, including 
     `ridgeline to reef' and ecosystem management practices.
       ``(3) Training programs to increase the scientific, 
     technical, and managerial capacities of individuals and 
     organizations involved in conservation efforts.
       ``(4) Restoration, protection, or sustainable use of 
     diverse marine animal and plant species.
       ``(5) Development and support of the livelihoods of 
     individuals living near a coral reef or other coastal marine 
     resource, in a manner consistent with protecting those 
     resources.
       ``(e) Grant Recipients.--
       ``(1) In general.--Grants made from a Fund shall be made 
     to--
       ``(A) nongovernmental environmental, forestry, 
     conservation, and indigenous peoples organizations of, or 
     active in, the beneficiary country;
       ``(B) other appropriate local or regional entities of, or 
     active in, the beneficiary country; or
       ``(C) in exceptional circumstances, the government of the 
     beneficiary country.
       ``(2) Priority.--In providing grants under paragraph (1), 
     priority shall be given to projects that are run by 
     nongovernmental organizations and other private entities and 
     that involve local communities in their planning and 
     execution.
       ``(f) Review of Larger Grants.--Any grant of more than 
     $100,000 from a Fund shall be subject to veto by the 
     Government of the United States or the government of the 
     beneficiary country.
       ``(g) Eligibility Criteria.--In the event that a country 
     ceases to meet the eligibility requirements set forth in 
     section 905(a), as determined by the President pursuant to 
     section 905(b), then grants from the Fund for that country 
     may only be made to nongovernmental organizations until such 
     time as the President determines that such country meets the 
     eligibility requirements set forth in section 905(a).

     ``SEC. 909. CORAL REEF AND OTHER COASTAL MARINE RESOURCES 
                   FUND.

       ``(a) Establishment.--Each beneficiary country that enters 
     into a Coral Reef and Other Coastal Marine Resources 
     Agreement under section 908 shall be required to establish a 
     Coral Reef and Other Coastal Marine Resources Fund to receive 
     payments of interest on new obligations undertaken by the 
     beneficiary country under this part.
       ``(b) Requirements Relating to Operation of Fund.--The 
     following terms and conditions shall apply to the Fund in the 
     same manner as such terms as conditions apply to an 
     Enterprise for the Americas Fund under section 707 of this 
     Act:
       ``(1) The provision relating to deposits under subsection 
     (b) of such section.
       ``(2) The provision relating to investments under 
     subsection (c) of such section.
       ``(3) The provision relating to disbursements under 
     subsection (d) of such section.

     ``SEC. 910. BOARD.

       ``(a) Enterprise for the Americas Board.--The Enterprise 
     for the Americas Board established under section 610(a) of 
     the Agricultural Trade Development and Assistance Act of 1954 
     (7 U.S.C. 1738i(a)) shall, in addition to carrying out the 
     responsibilities of the Board under section 610(c) of such 
     Act, carry out the duties described in subsection (c) of this 
     section for the purposes of this part.
       ``(b) Membership.--
       ``(1) Initial membership.--Of the six members of the 
     Enterprise for the Americas

[[Page H6801]]

     Board appointed by the President under section 610(b)(1)(A) 
     of the Agricultural Trade Development and Assistance Act of 
     1954 (7 U.S.C. 1738i(b)(1)(A)), at least one shall be a 
     representative of the Department of State, at least one shall 
     be a representative of the Department of the Treasury, and at 
     least one shall be a representative of the Inter-American 
     Foundation.
       ``(2) Additional membership.--The Enterprise for the 
     Americas Board shall be composed of an additional four 
     members appointed by the President as follows:
       ``(A) Two representatives from the United States 
     Government, including a representative of the National 
     Oceanographic and Atmospheric Administration (NOAA) and a 
     representative of the United States Geological Survey (USGS).
       ``(B) Two representatives from private nongovernmental 
     environmental, scientific, forestry, or academic 
     organizations with experience and expertise in preservation, 
     maintenance, sustainable uses, and restoration of coral reefs 
     and other coastal marine resources.
       ``(c) Duties.--The duties described in this subsection are 
     as follows:
       ``(1) Advise the Secretary of State on the negotiations of 
     Coral Reef and Other Coastal Marine Resources Agreements.
       ``(2) Ensure, in consultation with--
       ``(A) the government of the beneficiary country;
       ``(B) nongovernmental organizations of the beneficiary 
     country;
       ``(C) nongovernmental organizations of the region (if 
     appropriate);
       ``(D) environmental, scientific, oceanographic, and 
     academic leaders of the beneficiary country; and
       ``(E) environmental, scientific, oceanographic, and 
     academic leaders of the region (as appropriate),
     that a suitable administering body is identified for each 
     Fund.
       ``(3) Review the programs, operations, and fiscal audits of 
     each administering body.

     ``SEC. 911. CONSULTATIONS WITH THE CONGRESS.

       ``The President shall consult with the appropriate 
     congressional committees on a periodic basis to review the 
     operation of the Facility under this part and the eligibility 
     of countries for benefits from the Facility under this part.

     ``SEC. 912. ANNUAL REPORTS TO THE CONGRESS.

       ``(a) In General.--Not later than December 31 of each year, 
     the President shall prepare and transmit to the Congress an 
     annual report concerning the operation of the Facility for 
     the prior fiscal year. Such report shall include--
       ``(1) a description of the activities undertaken by the 
     Facility during the previous fiscal year;
       ``(2) a description of any Agreement entered into under 
     this part;
       ``(3) a report on any Funds that have been established 
     under this part and on the operations of such Funds; and
       ``(4) a description of any grants that have been provided 
     by administering bodies pursuant to Agreements under this 
     part.
       ``(b) Supplemental Views in Annual Report.--Not later than 
     December 15 of each year, each member of the Board shall be 
     entitled to receive a copy of the report required under 
     subsection (a). Each member of the Board may prepare and 
     submit supplemental views to the President on the 
     implementation of this part by December 31 for inclusion in 
     the annual report when it is transmitted to Congress pursuant 
     to this section.''.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Illinois (Mr. Hyde) and the gentleman from California (Mr. Lantos) each 
will control 20 minutes.
  The Chair recognizes the gentleman from Illinois (Mr. Hyde).


                             General Leave

  Mr. HYDE. Madam Speaker, I ask unanimous consent that all Members may 
have 5 legislative days within which to revise and extend their remarks 
and include extraneous material on the bill under consideration.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Illinois?
  There was no objection.
  Mr. HYDE. Madam Speaker, I yield myself such time as I may consume.
  I am pleased that the House is considering H.R. 2272, the Coral Reef 
and Coastal Marine Conservation Act of 2001, a bill introduced by the 
gentleman from Illinois (Mr. Kirk) and cosponsored by the distinguished 
chairman emeritus of the Committee on International Relations, the 
gentleman from New York (Mr. Gilman); the gentleman from New Jersey 
(Mr. Smith), the vice chairman, and the gentleman from American Samoa 
(Mr. Faleomavaega).
  Mr. Speaker, H.R. 2272 authorizes $10 million for each of the fiscal 
years 2002 through 2005 to build upon the environmental and 
conservation programs of the Enterprise for the Americas Initiative and 
the Tropical Forest Conservation Act that was recently marked up by the 
Committee on International Relations, passed by Congress, and enacted 
into law by the President.
  In simple terms, Madam Speaker, the Coral Reef and Coastal Marine 
Conservation Act helps to protect the world's dwindling coral reefs 
through debt-for-nature swaps, debt buy-backs, or debt restructuring 
instruments.

                              {time}  1500

  This successful program, which is modeled on former President Bush's 
innovative Enterprise for the Americas initiative, is another creative 
example of how we can address developing country debt while helping to 
protect our planet's environment.
  Madam Speaker, this bill gives the President the authority to reduce 
certain forms of debt owed to the United States in exchange for the 
deposit by eligible developing countries of local currencies in a coral 
reef facility to preserve, restore, and maintain coral reefs throughout 
the developing world.
  These funds are used by qualified non-governmental organizations 
working to preserve the world's most endangered coral reefs.
  This program is overseen by a board of directors in the United States 
that is comprised of U.S. public and private officials; and the board, 
in turn, annually reports to Congress on the progress made to implement 
the program's objectives.
  I am pleased that key U.S. Government agencies, including the State 
and Treasury Departments, as well as the Inter-American Foundation, are 
members of the Enterprise for America's board and charged with the 
oversight of these programs.
  In closing, I wish to commend the distinguished gentleman from 
Illinois (Mr. Kirk) for his leadership, vision, and dedication in 
promoting and expanding conservation efforts in the developing world. I 
urge all my colleagues to support H.R. 2272.
  I congratulate and appreciate the opportunity to work with the 
gentleman from California (Mr. Lantos) on this bill, as well as all 
bills.
  Madam Speaker, I reserve the balance of my time.
  Mr. LANTOS. Madam Speaker, I yield myself such time as I may consume.
  Madam Speaker, I rise in strong support of H.R. 2272. First, I would 
like to commend our colleague, the gentleman from Illinois (Mr. Kirk), 
for introducing this important piece of legislation; our colleague, the 
gentleman from American Samoa (Mr. Faleomavaega) for his leadership on 
this issue; and the gentleman from Illinois (Chairman Hyde) for moving 
the bill so expeditiously through the legislative process.
  Madam Speaker, H.R. 2272 will help provide vital protection to 
valuable coral reefs and coastal marine resources around the globe. The 
bill provides significant funding for the administration to pursue 
actively debt swaps, buy-backs, and reduction and restructuring with 
developing nations in return for concrete efforts to protect coral 
reefs and sensitive coastal marine environments.
  Coral reefs and coastal marine environments provide a host of 
significant benefits to mankind. They harbor a major share of the 
world's marine biological diversity, and act as vital nurseries and 
seeding grounds for many sensitive deep sea species. They also provide 
the foundation for critical economic, social, and cultural activities 
of almost immeasurable value.
  Coral reefs are extremely sensitive marine treasures. The shocking 
reports of massive coral bleaching that has occurred around the globe 
in recent years should serve as a wake-up call for all of us. Urgent 
action is needed to help mitigate the contributions that human 
activities are making to this problem.
  Our bill provides just the kind of intelligent, targeted, and 
mutually beneficial assistance that is required; and I urge all of our 
colleagues to support H.R. 2272.
  Madam Speaker, I reserve the balance of my time.
  Mr. HYDE. Madam Speaker, I yield such time as he may consume to the 
learned gentleman from Illinois (Mr. Kirk).
  Mr. KIRK. Madam Speaker, I thank the gentleman for yielding time to 
me; and I also thank our ranking Democrat member, leader, and original 
cosponsor of this legislation, the gentleman from California (Mr. 
Lantos); the gentleman from New York (Mr. Gilman); and the

[[Page H6802]]

gentleman from American Samoa (Mr. Faleomavaega) for helping out on 
this crucial piece of legislation.
  I also want to thank one of the intellectual authors of this 
legislation, the gentleman from Ohio (Mr. Portman), for his leadership 
on the debt-for-nature swap initiative.
  The Coral Reef and Coastal Marine Conservation Act of 2001 will 
credit qualified developing nations for each dollar spent on a 
comprehensive reef preservation or management program designed to 
protect these unique ecosystems from degradation. This bill builds on 
the model of the Tropical Forest Conservation Act, expanding it to 
include coral reefs.
  Madam Speaker, it is said that coral reefs are the rainforests of the 
ocean. Although they occupy less than one-quarter of 1 percent of the 
marine environment, coral reefs are home to more than one-quarter of 
all known marine fish species.
  Coral reefs are among the most biologically rich ecosystems on Earth. 
About 4,000 species of fish and 800 species of reef-building corals 
have already been identified. However, scientists have barely begun to 
catalogue the total number of species found within these habitats. 
Their scientific value cannot be underestimated. Yet, they are 
disappearing at an alarming rate.
  According to a 1998 study conducted by the United Nations and various 
international environmental organizations, 58 percent of the world's 
reefs are potentially threatened by human activity. These activities 
include coastal development, overfishing, marine pollution, and runoff 
from inland deforestation and farming.
  More than one-quarter of the world's reefs are at risk. Predictions 
made in 1992 were that 10 to 20 years from now, another 30 percent of 
the world's coral reefs could be effectively destroyed, adding to the 
10 percent that already were destroyed.
  While these numbers sound alarmist, figures today show that they are 
conservative. Most Caribbean and South Pacific mangroves have 
disappeared, while India, Southeast Asia, and West Africa have each 
lost about one-half of their mangroves.
  Almost a half a billion people, 8 percent of the world's population, 
live within 100 kilometers of a coral reef. A decline in the health of 
coral reefs has implications for the lives of millions of people who 
depend upon them.
  The burden of foreign debt falls especially hard on the smallest 
nations, such as island nations in the Caribbean and Pacific. With few 
natural resources, these nations often resort to harvesting or 
otherwise exploiting coral reefs and other marine habitats to earn hard 
currency to service foreign debt. At least 40 countries lack any marine 
protected areas for their coral reef systems.
  This legislation will make available resources for environmental 
stewardship that would otherwise be the lowest priority in a developing 
country. It will reduce debt by investing locally in programs that will 
strengthen indigenous economies by creating long-term management 
policies that will preserve the natural resources upon which local 
commerce is based.
  The Tropical Forest Conservation Act has set a path for debt-for-
nature swaps, and the United States has an important role to play in 
assisting in the protection of the world's natural resources. This bill 
extends the support from forests to the oceans, and critical countries 
like Jamaica, Belize, Dominican Republic, the Philippines, and Thailand 
could benefit from this legislation.
  I urge all of my colleagues to support the legislation and take an 
important step to helping preserve one of the world's largest, most 
precious, and most threatened resources.
  Mr. LANTOS. Madam Speaker, I am pleased to yield 3 minutes to my good 
friend and colleague, the gentleman from American Samoa (Mr. 
Faleomavaega), one of the leaders in this field of legislation.
  (Mr. FALEOMAVAEGA asked and was given permission to revise and extend 
his remarks.)
  Mr. FALEOMAVAEGA. Madam Speaker, I rise in strong support of this 
bipartisan bill, which enhances international efforts to protect 
critical coral reef habitats, and commend the author, my good friend, 
the gentleman from Illinois, and also the gentleman from Ohio (Mr. 
Portman), for introducing this piece of legislation.
  I say this especially because one does not have to come from an 
island to have a sense of appreciation what coral reefs are all about. 
I know there are a lot of reefs in Illinois and Ohio. But certainly, I 
want to really commend not only our chairman of the Committee on 
International Relations, but also our ranking senior Democratic member, 
the gentleman from California (Mr. Lantos), for their leadership in 
bringing this measure to the floor. Indeed, I am honored to be an 
original cosponsor of this legislation.
  Madam Speaker, coral reefs and the marine life they support are the 
world's most biologically diverse marine ecosystems. Yet, it is only 
recently we have begun to appreciate how important coral reefs are to 
local, regional, and national interests, especially the economies of 
several countries.
  For example, coral reefs provide fisheries for food and raw materials 
for new medicines and pharmaceuticals. Tourism and recreation flourish 
along coral reef tracts and provide jobs and real income for coastal 
residents. They also provide effective shore protection, shielding 
coastal communities and harbors from violent storms and erosion.
  Yet, because corals depend on light and require clear water for 
growth, they are remarkably fragile. Recent evidence indicates that 
coral reefs are deteriorating worldwide, and many are highly at risk. 
Symptoms include the loss of coral diversity, an increased abundance of 
algae, an increased frequency in outbreaks of coral bleaching and other 
diseases, such as black band disease.
  Scientists and managers still lack critical information about the 
causes, but evidence suggests that a variety of human forces, including 
shoreline development, increased sediments and pollutants in the water, 
ship groundings, and overfishing, including destructive fishing 
practices such as the use of dynamite and cyanide, have all contributed 
to the decline of healthy coral reef ecosystems.
  Madam Speaker, the destruction of coral reefs is particularly 
profound in developing nations in the tropics. Legislation before us 
addresses this problem, and is specifically targeted to encourage coral 
reef resource protection in these developing countries.
  By authorizing the administration to sell, reduce, or cancel loans 
owed by these nations to the United States in an amount equivalent to 
what these countries spend on coral conservation programs, we promote 
the economic growth while significantly enhancing international efforts 
to protect and restore coral reefs and coastal marine resources.
  Madam Speaker, this is a very worthwhile initiative and piece of 
legislation. I again commend my good friend, the gentleman from 
Illinois, for his authorship of this bill; and I strongly urge my 
colleagues to support this piece of legislation.
  Mr. LANTOS. Madam Speaker, I am pleased to yield 4 minutes to my good 
friend, the gentleman from Oregon (Mr. Blumenauer), an indefatigable 
guardian of the environment.
  Mr. BLUMENAUER. Madam Speaker, I thank the gentleman for yielding 
time to me. I appreciate his courtesy and leadership, as with our chair 
of the full committee, and my colleague, the gentleman from Illinois 
(Mr. Kirk).
  Madam Speaker, I think it is important that we take a step back and 
look at this legislation today because as we have heard, there is a 
crying need for this type of protection.
  Coral reefs are indeed among the most diverse and productive 
communities on our world. They are home to nearly a quarter of all 
marine plants and animals.
  We have heard a lot of numbers here on the floor today, but there are 
nearly 1 million species of fish, crab, eel, sponges, worms, grasses, 
all of these organisms that live on the reefs or depend directly on 
them.
  We find that the coral provides a natural filtration system for 
seawater. It, as we have heard, protects coastal landscapes, 
maintaining coastal quality of water. There are millions of people on 
the coastal areas who receive important protections from storms, wave 
damage, and erosion, to say nothing of economic opportunities dealing 
with fishing and tourism.

[[Page H6803]]

  Madam Speaker, we have heard each speaker use slightly different 
statistics to talk about the alarming rate of destruction. Sadly, all 
of the information we have received is true. There may be different 
statistics, but they are all bad. We have more than 10 percent of the 
inventory of coral reefs already destroyed; and if we take the big 
view, because what we are doing today in the United States and around 
the world, we are taking steps that are going to have a profound impact 
over the next generation, and 70 percent of the coral reefs at risk 
could be gone in the next 40 years.
  Madam Speaker, the legislation before us is an important extension of 
the protections that we have had for the rain forests. It will provide 
the administration to be able to actively pursue debt swaps and buy-
backs. It is going to help give those developing countries the tools 
that they need and would otherwise not be available.
  But we on this floor ought to be clear that this is just the 
beginning, because we are in a situation now where we are in the United 
States only investing $1 in oceanographic research for every $13 that 
we put in outer space, when the world's fishery industry are now 
costing $1.33 to harvest each $1 of fish, producing dramatic 
overharvest, and we are going to have to step up and put serious money 
on the table, negotiate serious trade agreements, to provide for the 
protection of these important resources.
  Madam Speaker, I think this legislation is important. It is a step in 
the right direction. It is relatively painless. But I do hope we in 
this Congress will be willing to do our part, because the stakes are 
high. We are going to have to do more, and we are going to have to do 
it soon.

                              {time}  1515

  Mr. LANTOS. Madam Speaker, I yield myself such time as I may consume.
  Before yielding back our time, I just would like to make an 
observation. It speaks to the strength of this body and this Nation 
that in the midst of a war we take time to pass important environmental 
legislation, as we are about to do; that we have taken time to 
recognize the historic continuity of the friendship between two 
democracies, Australia and the United States; and that we have had the 
creativity and courage to move with respect to Pakistan as it aligned 
itself with the United States in the fight against terrorism.
  This is a fine day for Congress and for the American people, and it 
is a message to our enemies that we shall prevail.
  Madam Speaker, I yield back the balance of our time.
  Mr. HYDE. Madam Speaker, I should very much like to associate myself 
with the trenchant remarks of the gentleman from California (Mr. 
Lantos).
  Madam Speaker, having no more speakers, I yield back the balance of 
our time.
  The SPEAKER pro tempore (Mrs. Biggert). The question is on the motion 
offered by the gentleman from Illinois (Mr. Hyde) that the House 
suspend the rules and pass the bill, H.R. 2272, as amended.
  The question was taken.
  The SPEAKER pro tempore. In the opinion of the Chair, two-thirds of 
those present have voted in the affirmative.
  Mr. HYDE. Madam Speaker, on that I demand the yeas and nays.
  The yeas and nays were ordered.
  The SPEAKER pro tempore. Pursuant to clause 8 of rule XX and the 
Chair's prior announcement, further proceedings on this motion will be 
postponed.

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