[Congressional Record (Bound Edition), Volume 146 (2000), Part 11]
[House]
[Pages 16147-16150]
[From the U.S. Government Publishing Office, www.gpo.gov]



                     GUAM OMNIBUS OPPORTUNITIES ACT

  Mr. HANSEN. Mr. Speaker, I move to suspend the rules and pass the 
bill (H.R. 2462) to amend the Organic Act of Guam, and for other 
purposes, as amended.
  The Clerk read as follows:

                               H.R. 2462

       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 ``Guam Omnibus Opportunities 
     Act''.

     SEC. 2. GUAM LAND RETURN ACT.

       (a) Short Title.--This section may be cited as the ``Guam 
     Land Return Act''.
       (b) Transfer of Excess Real Property.--
       (1) Notice of availability.--Except as provided in 
     subsection (e), before screening excess real property located 
     on Guam for further Federal used under section 202 of the 
     Federal Property and Administrative Services Act of 1949 (40 
     U.S.C. 471 et seq.), the Administrator shall notify the 
     Government of Guam that the property is available for 
     transfer to the Government of Guam pursuant to this section.
       (2) Opportunity for acquisition by guam.--If the Government 
     of Guam, within 180 days after receiving notification under 
     paragraph (1) with regard to certain real property, notifies 
     the Administrator that the Government of Guam intends to 
     acquire the property under this section, the Administrator 
     shall transfer such property to the Government of Guam in 
     accordance with subsections (c) and (d). Otherwise, the 
     Administrator shall dispose of the property in accordance 
     with the Federal Property and Administrative Services Act of 
     1949 (40 U.S.C. 471 et seq.).
       (c) Compensation.--A transfer of excess real property under 
     subsection (b) to the Government of Guam for a public purpose 
     shall be made without reimbursement or other compensation 
     from the Government of Guam.
       (d) Conditions.--
       (1) Restrictive covenants.--All transfers of excess real 
     property under subsection (b) to the Government of Guam shall 
     be subject to such restrictive covenants as the Administrator 
     determines to be necessary to ensure that--
       (A) the use of the property is compatible with continued 
     military activities on Guam;
       (B) the use of the property is consistent with the 
     environmental condition of the property;
       (C) access is available to the United States to conduct any 
     additional environmental remediation or monitoring that may 
     be required;
       (D) to the extent the property was transferred for a public 
     purpose, the property is so used; and
       (E) to the extent the property has been used by another 
     Federal agency for a minimum of two years, the transfer to 
     the Government of Guam is subject to the terms and conditions 
     of those permit interests until the expiration of those 
     permits.
       (2) Consultation.--In the case of real property reported 
     excess by a military department and in all cases with respect 
     to paragraph (1)(A), the Administrator shall consult with the 
     Secretary of Defense regarding the restrictive covenants to 
     be imposed on a transfer of the property.
       (3) Other laws.--All transfers of excess real property 
     under subsection (b) to the Government of Guam are subject to 
     all otherwise applicable Federal laws, except section 2696 of 
     title 10, United States Code. Any property that the 
     Government of Guam has the opportunity to acquire under 
     subsection (b) shall not be subject to section 501 of the 
     Stewart B. McKinney Homeless Assistance Act (42 U.S.C. 
     11411).
       (e) Exemptions.--Notwithstanding that real property located 
     on Guam and described in this subsection may be excess real 
     property, this section shall not apply--
       (1) to real property on Guam that is located within the 
     Guam National Wildlife Refuge, which shall be transferred in 
     accordance with subsection (f);
       (2) to real property described in the Guam Excess Lands Act 
     (Public Law 103-339, 108 Stat. 3116), which shall be disposed 
     of in accordance with such Act; or
       (3) to real property on Guam that is declared excess as a 
     result of a base closure law.
       (f) Treatment of Guam National Wildlife Refuge Lands.--
       (1) Notification of availability; negotiations.--The 
     Administrator shall notify the Government of Guam and the 
     Fish and Wildlife Service that real property within the Guam 
     National Wildlife Refuge has been declared excess. The 
     Government of Guam and the Fish and Wildlife Service shall 
     have 180 days to engage in discussions toward an agreement 
     providing for the future ownership and management of the real 
     property.
       (2) Transfer and management under agreement.--If the 
     parties reach an agreement under paragraph (1) within the 
     180-day period and the

[[Page 16148]]

     agreement is submitted to the Committee on Energy and Natural 
     Resources of the United States Senate and the Committee on 
     Resources of the United States House of Representatives not 
     less than 60 days prior to any transfer of the real property 
     under the agreement, the property shall be transferred and 
     managed in accordance with the agreement. Any such transfer 
     shall be subject to the other provisions of this section.
       (3) Effect of lack of agreement.--If the parties do not 
     reach an agreement under paragraph (1) within the 180-day 
     period, the Administrator shall provide a report to Congress 
     on the status of the discussions, together with 
     recommendations on the likelihood of resolution of 
     differences and the comments of the Fish and Wildlife Service 
     and the Government of Guam. If the subject property is under 
     the jurisdiction of a military department, the Secretary of 
     the military department may transfer administrative control 
     over the property to the General Services Administration. 
     Absent an agreement on the future ownership and use of the 
     property, the property may not be transferred to another 
     Federal agency or out of Federal ownership except pursuant to 
     an Act of Congress specifically identifying the property.
       (4) Eventual agreement.--If the parties come to an 
     agreement prior to congressional action in response to a 
     report under paragraph (3) and the agreement is submitted to 
     the Committee on Energy and Natural Resources of the United 
     States Senate and the Committee on Resources of the United 
     States House of Representatives not less than 60 days prior 
     to any transfer of the real property under the agreement, the 
     real property shall be transferred and managed in accordance 
     with the agreement. Any such transfer shall be subject to the 
     other provisions of this section.
       (g) Dual Classification Property.--If a parcel of real 
     property on Guam that is declared excess as a result of a 
     base closure law also falls within the boundary of the Guam 
     National Wildlife Refuge, such parcel of property shall be 
     disposed of in accordance with the base closure law.
       (h) Authority To Issue Regulations.--The Administrator of 
     General Services, after consultation with the Secretary of 
     Defense and the Secretary of Interior, may issue such 
     regulations as the Administrator deems necessary to carry out 
     this section.
       (i) Definitions.--For the purposes of this section:
       (1) The term ``Administrator'' means--
       (A) the Administrator of General Services; or
       (B) the head of any Federal agency with the authority to 
     dispose of excess real property on Guam.
       (2) The term ``base closure law'' means the Defense Base 
     Closure and Realignment Act of 1990 (part A of title XXIX of 
     Public Law 101-510; 10 U.S.C. 2687 note), title II of the 
     Defense Authorization Amendments and Base Closure and 
     Realignment Act (Public Law 100-526; 10 U.S.C. 2687 note), or 
     similar base closure authority.
       (3) The term ``excess real property'' means excess property 
     (as that term is defined in section 3 of the Federal Property 
     and Administrative Services Act of 1949 (40 U.S.C. 472)) that 
     is real property and was acquired by the United States prior 
     to the enactment of this section.
       (4) The term ``Guam National Wildlife Refuge'' includes 
     those lands within the refuge overlay under the jurisdiction 
     of the Department of Defense, identified as Department of 
     Defense lands in figure 3, on page 74, and as submerged lands 
     in figure 7, on page 78 of the ``Final Environmental 
     Assessment for the Proposed Guam National Wildlife Refuge, 
     Territory of Guam, July 1993'' to the extent that the Federal 
     Government holds title to such lands.
       (5) The term ``public purpose'' means those public benefit 
     purposes for which the United States may dispose of property 
     pursuant to section 203 of the Federal Property and 
     Administrative Services Act of 1949 (40 U.S.C. 484), as 
     implemented by the Federal Property Management Regulations 
     (41 CFR 101-47) or other public benefit uses provided under 
     the Guam Excess Lands Act (Public Law 103-339; 108 Stat. 
     3116).

     SEC. 3. GUAM FOREIGN DIRECT INVESTMENT EQUITY ACT.

       (a) Short Title.--This section may be cited as the ``Guam 
     Foreign Direct Investment Equity Act''.
       (b) In General.--Subsection (d) of section 31 of the 
     Organic Act of Guam (48 U.S.C. 1421i) is amended by adding at 
     the end the following new paragraph:
       ``(3) In applying as the Guam Territorial income tax the 
     income-tax laws in force in Guam pursuant to subsection (a) 
     of this section, the rate of tax under sections 871, 881, 
     884, 1441, 1442, 1443, 1445, and 1446 of the Internal Revenue 
     Code of 1986 on any item of income from sources within Guam 
     shall be the same as the rate which would apply with respect 
     to such item were Guam treated as part of the United States 
     for purposes of the treaty obligations of the United 
     States.''.
       (c) Certain Guam-Based Trusts Exempt.--The provisions of 
     this section shall not apply to any Guam-based trust formed 
     pursuant to Division 2 of Title 11, Chapter 160, of the Guam 
     Code Annotated.
       (d) Effective Date.--The amendment made by subsection (b) 
     shall apply to amounts paid after the date of the enactment 
     of this Act.

     SEC. 4. IMPORTATION OF BETEL NUTS (``ARECA NUTS'') FOR 
                   PERSONAL CONSUMPTION.

       (a) In General.--Notwithstanding any other provision of law 
     (including sections 402 and 801 of the Federal Food, Drug, 
     and Cosmetic Act (21 U.S.C. 342 and 381)), Guam shall be 
     deemed to be within the customs territory of the United 
     States in the case of importation from Guam into the United 
     States of betel nuts (also known as ``areca nuts'') by an 
     individual for personal consumption by the individual.
       (b) Definitions.--In this section:
       (1) Betel nuts.--The term ``betel nuts'' means husked betel 
     nuts grown in Guam.
       (2) Customs territory of the united states.--The term 
     ``customs territory of the United States'' has the meaning 
     given the term in general note 2 of the Harmonized Tariff 
     Schedule of the United States.

     SEC. 5. COMPACT IMPACT REPORTS.

       Paragraph 104(e)(2) of Public Law 99-239 (99 Stat. 1770, 
     1788) is amended by deleting ``President shall report to the 
     Congress with respect to the impact of the Compact on the 
     United States territories and commonwealths and on the State 
     of Hawaii.'' and inserting in lieu thereof the following: 
     ``Governor of any of the United States territories or 
     commonwealths or the State of Hawaii may report to the 
     Secretary of the Interior by February 1 of each year with 
     respect to the financial and social impacts of the compacts 
     of free association on the Governor's respective 
     jurisdiction. The Secretary of the Interior shall review and 
     forward any such reports to the Congress with the comments 
     and recommendations of the Administration. The Secretary of 
     the Interior shall, either directly or, subject to available 
     technical assistance funds, through a grant to the affected 
     jurisdiction, provide for a census of Micronesians at 
     intervals no greater than five years from each decennial 
     United States census using generally acceptable statistical 
     methodologies for each of the impact jurisdictions where the 
     Governor requests such assistance, except that the total 
     expenditures to carry out this sentence may not exceed 
     $300,000 in any year.''.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Utah (Mr. Hansen) and the gentleman from Guam (Mr. Underwood) each will 
control 20 minutes.
  The Chair recognizes the gentleman from Utah (Mr. Hansen).
  Mr. HANSEN. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, the Guam Omnibus Opportunities Act, H.R. 2462, 
introduced by the gentleman from Guam (Mr. Underwood) has been 
developed on a bipartisan basis and contains four provisions affecting 
our territory in the Western Pacific.
  The bill proposes to, one, provide Guam the right of first refusal 
for the return of future lands currently in possession of the Federal 
Government; two, allows the government to lower the withholding tax 
rates imposed on foreign investors to equal that of the treatment of 
States under U.S. treaties with other nations; three, provides a narrow 
interpretation for Guam to be included in the U.S. Customs Zone for the 
purpose of importing betel nuts by an individual for personal 
consumption; and, four, authorizes the governors of the territories and 
the State of Hawaii to report to the Secretary of the Interior 
Department on the financial and social impacts of the Compacts of Free 
Association on their respective jurisdictions.
  Mr. Speaker, I would like to add that our staff person, Manase 
Mansur, this is the last bill that he has worked on. He has done us a 
great job on the committee, and we wish him well in his future 
endeavors.
  I urge the support of Members for this measure.
  Mr. Speaker, I reserve the balance of my time.
  Mr. UNDERWOOD. Mr. Speaker, I yield myself such time as I may 
consume.
  Mr. Speaker, as you may understand, this bill is very important to me 
and to the people of Guam. I certainly want to thank all of those 
involved, especially the staff on both sides; the gentleman from Alaska 
(Chairman Young); and the ranking member, the gentleman from California 
(Mr. George Miller). I thank the gentleman for the words of support, 
and I also want to publicly thank the staff for their work, on both 
sides, including Manase Mansur. This is shocking news to me, that he is 
departing the scene.
  But, in any event, as indicated, H.R. 2462 is omnibus legislation 
that is comprised of four distinct sections to address issues relevant 
to my home island. The legislation provides Guam

[[Page 16149]]

the right of first refusal for the return of future lands currently in 
the possession of the Federal Government; allows the government to 
lower the withholding tax rates imposed on foreign investors in order 
to equal it to the treatment of States under U.S. treaties with other 
nations; provides a narrow interpretation for Guam to be included in 
the U.S. Customs Zone for the purpose of importing betel nuts for 
personal consumption; and authorizes the governors of the territories 
and the State of Hawaii to report to the Secretary of Interior on the 
financial and social impacts of the Compacts of Free Association on 
their respective jurisdictions.
  Mr. Speaker, as you can imagine, one of the most valuable resources 
to an island is land. For smaller islands, such as Guam, whose land 
mass is approximately 212 square miles, land is highly valued and 
highly treasured. For Guam, much of our treasure was obtained by the 
Federal Government in the years following World War II to assist in the 
defense of our nation.
  Nearly one-third of Guam, or roughly 44,000 acres, was kept by the 
U.S. for use by our military. It is easy to understand why this would 
be the case, because of Guam's strategic location to Asia, and it is 
understandable that our military continued to retain this property 
throughout the Cold War. But the Cold War is now over, and although we 
still have some genuine concerns over the instability of some Asian 
countries, excess Federal property on Guam should be returned to Guam, 
and we have worked this very closely with the Department of Defense.
  In the 103rd Congress I was successful in getting legislation passed 
in Congress to return 3,200 acres of Federal land to the Government of 
Guam for public benefit, and I am pleased to acknowledge the work of 
our good friend the gentleman from Utah (Mr. Hansen) on that particular 
bill, and I am pleased that 900 acres were deeded over to the 
Government of Guam just last month, and I am anxious for the return of 
more property.
  H.R. 2462 builds on this policy of returning excess Federal property 
on Guam to the Government of Guam before it is offered to other Federal 
agencies or organizations. This legislation establishes a process where 
the Government of Guam is notified that Federal land is excess, and the 
island then has the opportunity to acquire it at no cost for public 
benefit purposes.
  H.R. 2462 also provides for a process for the Government of Guam and 
the U.S. Fish and Wildlife Service to engage in negotiations on the 
ownership and management of declared Federal excess lands within the 
Guam National Wildlife Refuge. The administration, in discussion on 
this particular section of the bill, has raised some concerns on this 
part of the bill; and I assured them I will work with them to make sure 
that land is returned and used for a clear public purpose.
  H.R. 2462 also addresses an issue that could have great economic 
potential for Guam. The Organic Act of Guam authorized the local 
Government to implement a mirror image tax system the same as the U.S. 
Internal Revenue Code. The Internal Revenue Code, unfortunately, 
imposes a withholding tax of 30 percent on foreign investors, except 
that in the case of the rest of the United States these rates have been 
adjusted according to treaty obligations negotiated by the United 
States with foreign countries. However, Guam is not included in those 
tax treaties.
  This section simply asks that Guam be treated the same as every other 
jurisdiction in the United States for purposes of withholding tax for 
foreign investors. This omission has cost us some foreign investment, 
and this is a very critical time for our island. We are suffering over 
15 percent unemployment due to the downturn in Asia. We think that this 
will give us an opportunity to recover some of our economic success we 
had earlier in the 1990s.
  A third section of H.R. 2462 has received a lot of attention in Guam, 
not a lot of attention here, and it is humorous for many of our 
constituents. My people chew the betel nut. The betel nut in a mature 
form is a hard nut which has been banned from movement across the 
Customs Zone. Because Guam is outside the Customs Zone, we are 
sometimes treated as foreigners for this particular purpose. What this 
bill does is it does not allow it to be brought in for agricultural 
problems, it just says if it is for personal consumption, then it 
should be allowed to go through the Customs Zone.
  The last section of the bill is equally of great concern, not only 
for Guam, but other U.S. areas like the Commonwealth of the Northern 
Marianas and the State of Hawaii. This authorizes the governors of 
those areas to submit a report and requires the Department of Interior 
to respond relative to the impact of the right of citizens of three new 
States, three new independent nations, to freely migrate into the 
United States.
  This is good sense legislation. I want to again thank the gentleman 
from Alaska (Chairman Young) and the gentleman from California (Mr. 
George Miller) for working with me to address concerns raised by the 
administration during the full committee hearing. We did make some 
changes that addressed those concerns. I understand there may still 
remain some issues, but I am sure we can work with them as this 
legislation moves through the Senate.
  Mr. Speaker, I yield such time as he may consume to the gentleman 
from American Samoa (Mr. Faleomavaega). I am proud to say I am probably 
the only person who pronounces his name right.
  Mr. FALEOMAVAEGA. Mr. Speaker, I do want to commend the gentleman 
from Guam for pronouncing my name properly, and you yourself, you did 
very well. Sometimes I wish maybe my colleagues should call me John 
Wayne just for he the sense of making it a little more clear.
  Mr. Speaker, I do want to express my strong support of H.R. 2462, the 
Guam Omnibus Opportunities Act, chiefly sponsored by my good friend and 
colleague, the gentleman from Guam (Mr. Underwood). I want to commend 
the gentleman, who also serves as the Chairman of the Asian-Pacific 
Congressional Caucus. I also want to thank the gentleman from Utah (Mr. 
Hansen) for his management of this legislation, and certainly want to 
commend him for his assistance.
  Mr. Speaker, the return of Federal excess land to the people of Guam 
is an issue that has been under discussion for far too long. While the 
policy of offering Federal land to other Federal agencies when it is no 
longer needed by one agency is sound for most land in the continental 
United States, the history of these lands is often different in insular 
areas, and the Territory of Guam is an example.
  In Guam, one-third of the land on the island is owned by the Federal 
Government and was taken, in most cases, for military purposes. Perhaps 
our colleagues are not aware of the fact that we currently have about a 
$10 billion presence of military bases, military equipment and 
personnel currently now on the island of Guam.
  Now that the land is no longer needed, it should be returned to its 
previous owners, or, at a minimum, as it is done in this bill, give the 
local Government the option of acquiring it. I note in the last 
Congress, Mr. Speaker, the Senate passed a similar piece of 
legislation, and I hope that we can get this provision through both 
houses of the Congress this year.
  Mr. Speaker, it is unfortunate that Guam has to come to Congress 
every time it wants to amend the Tax Code applicable to its own 
residents. As has been noted, current law mandates a 30 percent 
withholding tax on foreign investors, yet it is lower than that for 
most foreign investors who invest in the 50 States. This is an obvious 
disincentive for investment in the Territory of Guam, and I am glad to 
see we are alleviating this burden today.
  I know this issue of betel nut consumption by the people of Guam has 
been an issue for some time. This bill addresses this problem by 
treating Guam as being within the U.S. customs territory for the 
purpose of importing betel nuts from Guam to the United States by an 
individual for personal consumption. While not important to

[[Page 16150]]

most Americans, I guess, it is of cultural significance to many of the 
people of Guam, and I suspect also my friends from the other islands of 
Micronesia. I certainly support this change in the law.
  Mr. Speaker, this legislation also addresses the continued problem 
caused by the migration of citizens from the freely associated States, 
the Federated States of Micronesia, the Republic of Palau and the 
Republic of the Marshall Islands. The residents from these entities 
migrate to Guam and other Pacific jurisdictions in the United States. 
Now, while Guam and Hawaii need more than a report to assist them with 
the impact of this migration, I do hope the report will provide the 
basis upon which substantial assistance can and will be provided, not 
only to Guam, but to all the affected Pacific jurisdictions.
  Again, Mr. Speaker, I want to commend the gentleman from Alaska 
(Chairman Young) and our ranking Democrat, the gentleman from 
California (Mr. George Miller), for their efforts in working with all 
the parties involved, and to get this legislation to the House, 
especially I want to commend the gentleman from Guam (Mr. Underwood), 
for his leadership in bringing this important bill to the floor. I urge 
my colleagues to support this legislation.
  Mr. UNDERWOOD. Mr. Speaker, I thank the gentleman from American Samoa 
for his kinds words.
  Mr. Speaker, I yield 2 minutes to the gentlewoman from the Virgin 
Islands (Mrs. Christensen).
  Mrs. CHRISTENSEN. Mr. Speaker, I thank the gentleman for yielding me 
time.
  I too rise in strong support of H.R. 2462, and I want to congratulate 
and commend my good friend from Guam (Mr. Underwood) for his tireless 
efforts and hard work over the several years it took to get this bill 
to this point today.
  As a cosponsor of H.R. 2462, I support the efforts of the gentleman 
from Guam (Mr. Underwood) to return land that was taken by the U.S. 
Government from the people of Guam during World War II. H.R. 2462 will 
address this issue by providing a process for the Government of Guam to 
receive lands from the U.S. Government for specified public purposes by 
giving Guam the right of first refusal of declared Federal excess lands 
by the General Services administrator prior to it being made available 
to any other Federal agency.

                              {time}  1700

  Mr. Speaker, the people of Guam have suffered greatly because of 
their love for this country. Guamanians have been under U.S. 
sovereignty since 1898. During World War II, Japanese forces invaded 
and took control of Guam for 32 months. The people of Guam suffered 
atrocities, including executions, rapes, beatings, imprisonment, forced 
labor and forced marches, primarily due to their continued loyalty to 
the United States.
  Mr. Speaker, the people of Guam have been seeking to have the issues 
of the return of Guam lands and restitution to Guamanians who suffered 
atrocities in World War II addressed for more than a decade now. It is 
time that they be resolved. How much longer must we make the people of 
Guam wait? As for myself, I pledge to do all that I can to assist the 
gentleman from Guam (Mr. Underwood) in finding a resolution to these 
issues that is acceptable to the people of Guam.
  I ask my colleagues to also support the people of Guam and to support 
this legislation.
  Mr. UNDERWOOD. Mr. Speaker, I yield myself such time as I may 
consume.
  Mr. Speaker, I just want to again thank everyone who worked hard with 
the staffs of both sides, my own staff, Nick Minella, who is also 
leaving. With that, I want to thank the gentleman from Utah (Mr. 
Hansen) for his support and kind words. I would like to thank again the 
gentleman from California (Mr. George Miller) and the gentleman from 
Alaska (Mr. Young) for their support on this effort.
  Mr. GEORGE MILLER of California. Mr. Speaker, I rise in support of 
H.R. 2462--the Guam Omnibus Opportunities Act--of which I am a 
cosponsor along with the Chairman of the Resources Committee. I 
recognize and congratulate our colleague from Guam, Mr. Underwood, for 
his hard work and collaboration with the staff of the Committee to 
craft legislation which addresses some very complex issues facing the 
people of Guam. Some may not realize how difficult a job it is for the 
delegates from the territories to move legislation through the Congress 
and I, for one, am glad that we are considering Mr. Underwood's 
legislation today.
  The Guam Omnibus Opportunities Act is legislation which, among other 
things, addresses two very important issues for the people of Guam--the 
future return of federal excess lands on Guam and the expansion of the 
island's economy. H.R. 2462 puts into place, a process wherein the 
government of Guam is given first consideration in the return of 
federal excess land. As chairman of the Resources Committee during the 
103rd Congress, we passed legislation, authored by Mr. Underwood, which 
identified 3,200 acres of federal excess lands no longer needed by the 
federal government for return to the government of Guam to benefit the 
people of Guam. This was the first step in helping to address the very 
unique circumstances of Guam's history and the federal acquisition of 
1/3 of the island after WWII for purposes of national defense. 
Currently, the return of excess federal land is governed by the General 
Service Administration's land return process which can completely 
prevent Guam from regaining the land, in favor of other federal 
interests. H.R. 2462 builds upon the success of our work during the 
103rd Congress and establishes a process in which federal property no 
longer necessary for the continuing operations of the defense of our 
nation is returned to the government of Guam for uses consistent with 
benefitting the island's community.
  H.R. 2462 also contains a novel approach to increase investment into 
Guam by allowing the government to match the withholding tax rates of 
foreign investors to equal the same rate offered in U.S. treaties for 
foreign investors doing business in the 50 states. Guam's U.S. ``mirror 
image'' tax system was instituted with the passage of its organic act 
in 1950. The Internal Revenue Code requires a withholding tax rate of 
30 percent on foreign investors with the exception of withholding tax 
rates negotiated in U.S. treaties with foreign nations. These rates are 
often lowered to encourage foreign investment into the United States. 
It is often the case, however, that the definition of the United States 
does not include Guam or the other U.S. territories. The exclusion of 
the territories, has for better or worse, penalized Guam in this 
instance since the majority of their private sector development has 
come from foreign sources. Amending Guam's Organic Act to equal the 
withholding tax rate under U.S. treaties will boost their attraction to 
foreign investors and benefit the island's long-term private sector 
diversification.
  I am mindful that over the past several years, the economy of Guam 
has spiraled downwards due to decreased military presence and the 
slumping economies in Asia. I am happy that we are attempting to 
address these issues in terms of making future excess federal land 
available to the island government for public benefit uses and the 
lifting of restrictive taxes on foreign investors. I thank Mr. 
Underwood again for his legislation and urge my colleagues to support 
H.R. 2462--the Guam Omnibus Opportunities Act.
  Mr. UNDERWOOD. Mr. Speaker, I yield back the balance of my time.
  Mr. HANSEN. Mr. Speaker, I yield back the balance of my time.
  The SPEAKER pro tempore (Mr. Pease). The question is on the motion 
offered by the gentleman from Utah (Mr. Hansen) that the House suspend 
the rules and pass the bill, H.R. 2462, as amended.
  The question was taken; and (two-thirds having voted in favor 
thereof) the rules were suspended and the bill, as amended, was passed.
  A motion to reconsider was laid on the table.

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