[Congressional Record Volume 163, Number 105 (Tuesday, June 20, 2017)]
[Senate]
[Page S3652]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. CORNYN (for himself and Mrs. Feinstein):
  S. 1385. A bill to provide for a general capital increase for the 
North American Development Bank, and for other purposes; to the 
Committee on Foreign Relations.
  Mr. CORNYN. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1385

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

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``North American Development 
     Bank Improvement Act of 2017''.

     SEC. 2. GENERAL CAPITAL INCREASE.

       Part 2 of subtitle D of title V of Public Law 103-182 (22 
     U.S.C. 290m et seq.) is amended by adding at the end the 
     following:

     ``SEC. 547. FIRST CAPITAL INCREASE.

       ``(a) Subscription Authorized.--The Secretary of the 
     Treasury is authorized to subscribe on behalf of the United 
     States to, and make payment for, 150,000 additional shares of 
     the capital stock of the Bank.
       ``(b) Limitation.--Any subscription by the United States to 
     the capital stock of the Bank shall be effective only to such 
     extent and in such amounts as are provided in advance in 
     appropriations Acts.''.

     SEC. 3. POLICY GOALS.

       (a) In General.--In addition to projects within the mission 
     and scope of the North American Development Bank on the day 
     before the date of the enactment of this Act and pursuant to 
     section 2 of article II of the Charter, the Secretary of the 
     Treasury shall direct the representatives of the United 
     States to the Board of Directors of the Bank to use the voice 
     and vote of the United States to support the financing of 
     projects related to--
       (1) environmental infrastructure relating to water 
     pollution, wastewater treatment, water conservation, 
     municipal solid waste, and related matters;
       (2) natural gas, including natural gas pipelines and 
     combined cycle power plants, with major emphasis on cross-
     border energy distribution and consumption and the energy 
     security of the United States and Mexico; and
       (3) the expansion or new construction of international land 
     border crossings to help facilitate the flow of goods and 
     people across the international land border between the 
     United States and Mexico while reducing wait times at border 
     crossings and improving air quality by reducing pollution 
     related to vehicular and commercial traffic.
       (b) Charter Defined.--In this section, the term ``Charter'' 
     means the Agreement Concerning the Establishment of a Border 
     Environment Cooperation Commission and a North American 
     Development Bank, signed at Washington and Mexico November 16 
     and 18, 1993, and entered into force January 1, 1994 (TIAS 
     12516), between the United States and Mexico.

     SEC. 4. EFFICIENCIES AND STREAMLINING.

       The Secretary of the Treasury shall direct the 
     representatives of the United States to the Board of 
     Directors of the North American Development Bank to use the 
     voice and vote of the United States to seek to require the 
     Bank to develop and implement efficiency improvements to 
     streamline and accelerate the project certification and 
     financing process, including through initiatives such as 
     single certifications for revolving facilities, programmatic 
     certification of similar groups of small projects, expansion 
     of internal authority to approve qualified projects below 
     certain monetary thresholds, and expedited certification for 
     public sector projects subject to lender bidding processes.

     SEC. 5. PERFORMANCE MEASURES.

       (a) In General.--The Secretary of the Treasury shall direct 
     the representatives of the United States to the Board of 
     Directors of the North American Development Bank to use the 
     voice and vote of the United States to seek to require the 
     Bank to develop performance measures that--
       (1) demonstrate how projects and financing approved by the 
     Bank are meeting the Bank's mission and providing added value 
     to the region near the international land border between the 
     United States and Mexico; and
       (2) are reviewed and updated not less frequently than 
     annually.
       (b) Report to Congress.--The Secretary of the Treasury 
     shall submit to Congress, with the submission to Congress of 
     the budget of the President for a fiscal year under section 
     1105(a) of title 31, United States Code, a report on progress 
     in imposing the performance measures described in subsection 
     (a).

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