text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``American Samoa Economic Development 
  Act of 1995''.
  
  SEC. 2. FINDINGS.
  
      The Congress finds that--
              (1) funding for the United States territory of American 
          Samoa has been based on the joint resolution entitled ``Joint 
          Resolution to provide for accepting, ratifying, and confirming 
          cessions of certain islands of the Samoan group to the United 
          States, and for other purposes'', as amended (48 U.S.C. 1661), 
          with commitments being made on a yearly basis;
              (2) American Samoa is locally self-governing with a 
          constitution of its own adoption and the direct election of the 
          Governor since 1977;
              (3) the territory of American Samoa has had difficulty in 
          planning and implementing comprehensive and sustainable 
          infrastructure based solely on annual ad hoc grants; and
              (4) the territory of American Samoa and the United States 
          would benefit from a multiyear funding commitment which 
          promotes economic development and self-sufficiency and requires 
          compliance with financial management accounting standards, the 
          establishment of semiautonomous public utility authorities 
          utilizing cost-recovery principles, and the phaseout of Federal 
          subsidies for Government operations.
  
  SEC. 3. AUTHORIZATION OF FUNDING.
  
      (a) In General.--There are authorized to be appropriated to the 
  Secretary of the Interior for the Government of American Samoa 
  $34,500,000, backed by the full faith and credit of the United States, 
  for each of fiscal years 1996 through 2005. Such amounts shall, subject 
  to the limits specified in the table in subsection (b), be used for--
              (1) construction of capital assets of American Samoa;
              (2) maintenance and repair of such capital assets;
              (3) the operations of the Government of American Samoa; and
              (4) reduction of unbudgeted debt incurred by the Government 
          of American Samoa in fiscal years prior to 1996.
      (b) Table of Multiyear Funding.--The table referred to in this 
  subsection is as follows:
  
  
  ----------------------------------------------------------------------------------------------------------------
                                                                              Deficit       Maintenance           
              Fiscal year              Year #   Operations  Construction     reduction      and repair      Total 
                                                                           (100% match)    (100% match)           
  ----------------------------------------------------------------------------------------------------------------
  1996...............................     1        23.0           5.5           3.0             3.0          34.5 
  1997...............................     2        23.0           5.5           3.0             3.0          34.5 
  1998...............................     3        23.0           5.5           3.0             3.0          34.5 
  1999...............................     4        21.0           7.5           3.0             3.0          34.5 
  2000...............................     5        18.0          10.5           3.0             3.0          34.5 
  2001...............................     6        15.0          16.5                           3.0          34.5 
  2002...............................     7        12.0          19.5                           3.0          34.5 
  2003...............................     8         9.0          22.5                           3.0          34.5 
  2004...............................     9         6.0          25.5                           3.0          34.5 
  2005...............................    10         3.0          28.5                           3.0          34.5 
  ----------------------------------------------------------------------------------------------------------------
  
      (c) Multiyear Availability of Appropriations.--Amounts not expended 
  in the year appropriated shall remain available until expended.
  
  SEC. 4. ESTABLISHMENT OF TRUST.
  
      (a) In General.--The Government of American Samoa shall establish a 
  trust into which the amounts appropriated pursuant to section 3 are 
  placed.
      (b) Trustee.--
              (1) In general.--A trustee to administer the trust 
          established by this section shall be nominated by the Governor 
          of American Samoa and passed by both Houses of the Legislature 
          of American Samoa pursuant to local law and shall be a 
          nongovernmental entity, bonded in an amount no less than 110 
          percent of the maximum amount of funds which will be held in 
          trust during any given fiscal year (hereafter in this Act 
          referred to as the ``trustee''). The trustee shall not be the 
          independent auditor required by section 7.
              (2) Replacement.--The trustee may be terminated only by 
          mutual agreement, or at the end of its contract for services as 
          trustee, or for good cause. Termination of a trustee for good 
          cause must be recommended by the Governor of American Samoa and 
          approved by both Houses of the Legislature of American Samoa.
              (3) Other terms and conditions.--The trustee shall be 
          subject to such other conditions as the Government of American 
          Samoa may provide under local law.
      (c) Trust Funds.--
              (1) Deposit; investment.--The trust funds shall be 
          deposited in an account or accounts of a financial institution 
          insured by the Federal Deposit Insurance Corporation, and may 
          be invested by the Government of American Samoa, or the trustee 
          if so designated, in only federally insured accounts or issues 
          of bonds, notes or other redeemable instruments of the 
          Government of the United States.
              (2) Use of interest and dividends.--Interest or dividends 
          earned from investment of trust funds under paragraph (1) may 
          be used for projects contained on the approved master plan of 
          capital needs developed under section 5, or for the costs of 
          managing the trust.
              (3) Availability and use of federal funds.--Federal funds 
          made available for the purposes described in section 3(a)(1) 
          may be used only on projects from the approved master plan of 
  capital needs.
      (d) Reports.--Within 90 days after the end of each fiscal year, the 
  trustee shall submit an annual report to the chairmen and ranking 
  minority members of the Committee on Energy and Natural Resources and 
  the Committee on Appropriations of the United States Senate, the 
  Committee on Resources and the Committee on Appropriations of the 
  United States House of Representatives, and the Government of American 
  Samoa. The report shall include at a minimum the financial statements 
  of the account or accounts in which it holds trust funds pursuant to 
  this Act.
  
  SEC. 5. USES OF TRUST FUNDS.
  
      (a) Capital Needs.--
              (1) Master plan of capital needs.--For fiscal year 1997 and 
          all following years, no funds appropriated pursuant to this Act 
          shall be released by the trustee for construction of capital 
          assets without the submission by the Government of American 
          Samoa to the trustee of a master plan of capital needs that 
          ranks projects in order of priority for at least five years. 
          The master plan shall be approved by the Governor and passed by 
          both Houses of the Legislature of American Samoa pursuant to 
          such laws as the Government of American Samoa may enact. The 
          master plan of capital needs may be amended at any time, but 
          all amendments must be approved by the Governor and passed by 
          both Houses of the Legislature of American Samoa. The plan 
          shall include the capital needs of all the islands of American 
          Samoa.
              (2) Funds for construction of capital assets.--Funds for 
          the construction of capital assets shall be paid to the 
          Government of American Samoa only after approval by the 
          trustee. The trustee shall approve the release of funds only 
          for construction projects for a public purpose in the areas of 
          communications, electrical power, water, waste water, roads, 
          schools, school transportation system, air, water and surface 
          transportation, ports, harbors, storage and transportation 
          facilities of fuels or other forms of energy, health, and 
          construction of government-owned buildings. Funding made 
          available pursuant to section 3(a)(1) for construction of 
          capital assets may only be used for projects listed on the 
          master plan of capital needs as set forth in this section. To 
          the extent an appropriation is available, the projects 
          contained on the master list with the highest priority are to 
          be funded.
              (3) Requirement of semiautonomous agencies.--Beginning with 
          fiscal year 1997, no funds for the construction of capital 
          assets shall be released by the trustee in the areas of 
          communications, electrical power, public health, 
          transportation, water, and wastewater until there is 
          established by local law semiautonomous government agencies of 
          the Government of American Samoa.
              (4) Maintenance plan and funding.--For fiscal years 1997 
          and all following years, no funds appropriated pursuant to this 
          Act shall be released by the trustee for the construction of 
          capital assets until the Government of American Samoa, or the 
          appropriate semiautonomous government agency if required, 
          submits to the trustee a maintenance plan covering the 
          anticipated life of the project and the project is initially 
          funded. The maintenance plan shall include the estimated cost 
          of maintaining and repairing the project and identify a source 
          to fund the estimated maintenance and repairs for the 
          anticipated life of the project. The initial funding for this 
          maintenance plan shall be in the amount of 10 percent of the 
          cost of the project. Federal funds made available for the 
          purposes described in section 3(a)(2) may be used for one-half 
          of the initial funding. Other Federal funds made available 
          pursuant to this Act may not be used for this purpose. Funds 
          set aside pursuant to this paragraph may be used for the 
          maintenance and repair of any capital asset within the purview 
          of the government or the appropriate semiautonomous agency.
      (b) Debt Reduction.--Any funding made available pursuant to section 
  3(a)(4) used to reduce the unbudgeted debt of the Government of 
  American Samoa must be matched, on a dollar for dollar basis, by funds 
  provided by the Government of American Samoa from revenue raised from 
  non-Federal sources.
      (c) Maintenance and Repair.--Any funding made available pursuant to 
  section 3(a)(2) used for the maintenance or repair of the capital 
  assets of the Government of American Samoa must be matched, on a dollar 
  for dollar basis, by funds provided by the Government of American Samoa 
  from revenue raised from non-Federal sources.
      (d) Prohibited Uses of Funds.--Neither the funds appropriated 
  pursuant to this Act, nor any interest or dividends earned on those 
  funds may be transferred to other accounts, or loaned to other accounts 
  or agencies; nor may these funds, interest or dividends be used as 
  collateral for loans made by the local government.
  
  SEC. 6. DISBURSEMENT OF TRUST FUNDS.
  
      (a) Operations.--Trust funds to be used for the operations of the 
  Government of American Samoa shall be disbursed in equal amounts on a 
  monthly basis, on the first business day of each month of the fiscal 
  year. An extra drawdown may be made once each fiscal year in an amount 
  not to exceed ten percent of the amounts appropriated for the fiscal 
  year for the purposes of section 3(a)(3), and only for purposes caused 
  by extreme or national emergencies deemed unforeseeable by the trustee.
      (b) Construction.--Trust funds to be used for the construction of 
  capital assets shall be released by the trustee--
              (1) to the Government of American Samoa, only upon 
          completion of identifiable portions of the construction work if 
          the work is performed by employees of the Government of 
          American Samoa, or
              (2) a bona fide contractor of the Government of American 
          Samoa pursuant to the terms of a construction contract, on an 
          invoice presented to the Government of American Samoa and 
          approved by an appropriate official of the Government of 
          American Samoa.
      (c) Debt Reduction; Maintenance Repair.--Trust funds to be used for 
  unbudgeted debt reduction or maintenance and repair made available 
  under sections 3(a)(2) and 3(a)(4) shall be released by the trustee on 
  submission by the Government of American Samoa of proof of payment from 
  non-Federal sources for either debt reduction, maintenance, or repair, 
  and proof acceptable to the trustee of an obligation due and owing for 
  the appropriate category.
  
  SEC. 7. AUDITS.
  
      (a) In General.--Beginning with fiscal year 1996, the Government of 
  American Samoa must obtain, at its own expense, a comprehensive 
  financial audit meeting the requirements of chapter 75 of title 31, 
  United States Code, and subtitle A of title 43, Code of Federal 
  Regulations, and upon which an independent auditor expresses an opinion 
  that the financial statements of the Government of American Samoa 
  present fairly, in all material respects, the financial position of the 
  Government of American Samoa, and were prepared in conformity with 
  generally accepted accounting principles. The audit shall include the 
  funds held in trust pursuant to this Act.
      (b) Submission of Audit Report to United States.--Reports of audits 
  required in this section shall be transmitted by the Governor of 
  American Samoa to the chairmen and ranking members of the Committee on 
  Energy and Natural Resources and the Committee on Appropriations of the 
  United States Senate, and the Committee on Resources and the Committee 
  on Appropriations of the United States House of Representatives within 
  180 days of the end of each fiscal year for which the United States 
  provides funding under this Act.
      (c) Failure To Obtain Audit.--In the event the Government of 
  American Samoa does not obtain the audit within the time required by 
  this section, the trustee shall not disburse additional funds pursuant 
  to section 3(a)(3) for the operations of the Government of American 
  Samoa until such time as a qualifying audit is received and the report 
  of that audit is forwarded as required by this section. Notwithstanding 
  the preceding sentence, one emergency disbursement may be made per year 
  under the provisions of section 6 of this Act, even if a qualifying 
  audit report is not obtained.
  
  SEC. 8. AUTHORITY OF UNITED STATES TO AUDIT.
  
      The Comptroller General of the United States and the Inspector 
  General of the Department of the Interior shall have the authority to 
  conduct audits of all funds of all branches and semiautonomous 
  authorities of the Government of American Samoa. Nothing in this Act 
  shall be construed to restrict the authority of these or other Federal 
  agencies to audit government funds as authorized by Federal law.
  
  SEC. 9. SETTLEMENT OF DISPUTES.
  
      The High Court of American Samoa is authorized to resolve disputes 
  which arise under this Act pursuant to its rules of procedure.
target: American Samoa Economic Development Act of 1995 - Authorizes appropriations to the Secretary of the Interior for the Government of American Samoa for FY 1996 through 2005 to be used for:  (1) construction, maintenance, and repair of American Samoa's capital assets; (2) operations of the Government of American Samoa; and (3) reduction of unbudgeted debt incurred by the Government of American Samoa in fiscal years prior to 1996. 
  Requires amounts appropriated to be placed in a trust administered by a nongovernmental entity. 
  Prohibits the release of funds for the construction of capital assets for FY 1997 and following years until:  (1) the Government of American Samoa submits to the trustee a master plan of capital needs that ranks projects in order of priority for at least five years; and (2) such Government submits to the trustee a maintenance plan covering the anticipated life of the project and the project is initially funded.  Approves the release of funds only for construction projects for specified public purposes. 
  Prohibits the release of such funds, beginning in FY 1997, in the areas of communications, electrical power, public health, transportation, water, and wastewater until semiautonomous government agencies of the Government of American Samoa are established by local law. 
  Requires funding provided to reduce the unbudgeted debt and for maintenance or repair of capital assets to be matched by non-Federal sources. 
  Prohibits funds appropriated pursuant to this Act from being transferred to other accounts, loaned to other accounts or agencies, or used as collateral for loans made by the local government. 
  Sets forth conditions on the release of trust funds to be used for construction of capital assets, debt reduction, and maintenance or repair. 
  Requires the Government of American Samoa to obtain and submit an annual audit of its financial position to specified congressional committees.  Withholds funds for government operations until a qualifying audit is received and reported. 
  Authorizes the Comptroller General and the Inspector General to conduct audits of all funds of branches and semiautonomous authorities of the Government of American Samoa.
feat_title: American Samoa Economic Development Act of 1995