Guam Commonwealth

1 monwealth agrees to assist the Commonwealth of Guam as

2 follows:

2 3 4

(1) The United States agrees to

(A) finance the costs of institutional changes connected with the change in Guam's political relationship with the United States, to include staff,

contracts, and referendum costs of the Guam Commission on Self-Determination;

(B) help meet the capital needs of Guam, in accordance with the following section, necessary to Guam's long-term, self-sustaining development; and

to assist expansion of the private sector.

(2) There is hereby authorized such sums as may be necessary to implement a long-term capital im

provement program approved by the Congress permitting the Commonwealth of Guam to establish an infrastructure base adequate for development of the private sector and to strengthen the utility of Guam for United States national security purposes.

(3) Guam shall submit a plan for Congressional approval showing the total amounts proposed, the distribution of funds by projects, phases, or programs with

an assessment of needs, costs, benefits and provision of

1 local funds where available. The capital improvement

plan shall take into account all related economic devel

opment projects and plans by the Commonwealth of Guam.

(4) There is hereby authorized a revolving fund to establish an Economic Development Fund on Guam with authority to assist in the financing of the private sector needs of Guam in its efforts to achieve a higher standard of living for its people as members of the American community and to develop the economic resources needed to meet the financial responsibilities of local self-government. To this end, the Economic Development Fund is authorized to provide financial and other assistance to increase investments (including loans, tax incentives, guarantees and equity capital) and to start or expand commercial businesses on Guam in order to provide employment and ownership opportunities for the residents of Guam. Participation by private banks and savings and loan institutions in the Economic Development Fund shall be encouraged. Funds shall be made available to the Economic Development Fund by Congress after the following conditions have been met:

(A) The submission of a set of procedures to Congress for the participation of private lending

institutions and for the processing of applications for assistance, indicating the role of the Economic Development Fund's staff, outside consultants, and board review, and to guide reviewers in making assistance and determining eligibility.

(B) Submission of an economic development plan, to be updated annually, by the Governor of Guam to Congress, showing the proposed amount,

the proposed distribution of the funds, and the

terms on which the funds will be made available.

Such plan will take into account any capital im

provement projects and other programs related to economic development. The funds granted to the Economic Development Fund shall be a revolving fund, available to the Economic Development

Fund until expended.

with financial experience for fixed terms and se

lected by the Governor of Guam. The Economic Development Fund shall issue a public and audit

ed report annually, setting forth the administrative and programmatic developments for the year with full disclosure of the utilization of its funds,

5 SEC. 1201. INTERPRETATION AND JURISDICTION.

6 (a) It is the intention of Congress that this Act provide 7 complete internal self-government for the Commonwealth of 8 Guam and, to that end, that this Act be interpreted liberally 9 to accomplish that purpose.

10 (b) When ruling upon the laws of the Commonwealth, 11 the courts of the United States shall give the same deference 12 to the laws of the Commonwealth as they give to the laws of 13 the several States. Jurisdiction to interpret the provisions of 14 this Act is vested in appropriate courts of the United States 15 and in the local courts of Guam.

16 SEC. 1202. CONTINUED EFFECTIVENESS OF LOCAL LAWS. 17

The laws of Guam in force on the date of enactment of

18 this Act, except as amended by this Act, are hereby contin19 ued in force, subject to modification or repeal by the Legisla20 ture of Guam.

21 SEC. 1203. ACTS REPEALED AND CONTINUED.

22 (a) All laws or parts of laws inconsistent with this Act 23 are hereby repealed to the extent of such inconsistency. 24 (b) Upon the enactment of this Act, the following sec25 tions of the Organic Act of Guam (Act of August 1, 1950, 64

1 Stat. 384), as amended, are repealed: Sections 1, 2, and 3;

2 fourth sentence of section 11, sections 25, 27, 33, and section

3 34.

(c) Upon the effective date of the Constitution adopted 5 by the people of Guam, the following provisions of the Or6 ganic Act of Guam (Act of Aug. 1, 1950, 64 Stat. 384), as 7 amended, and in effect at that time, are repealed: Sections 8 5(a) through (t), 6, 7, 8, 9, 9-A, 10; the first three sentences 9 of section 11; sections 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 10 22, 22A, 22B, 22C, 22D, 24, 26, 29, 30, and section 31. 11 (d) The following sections of the Organic Act of Guam 12 (Act of Aug. 1, 1950, 64 Stat. 384), as amended, shall con13 tinue in force and shall be deemed to be a part of this Act: 14 Section 5(u), beginning at the fifth sentence, all the remain15 der of sections 11, 21-A, 24-A, section 28 as modified by 16 Article 10 of this Act; 32, and section 35.

(e) Public Law 94-584 (90 Stat. 2899), as amended, is 18 repealed as it affects Guam.

19 SEC. 1204. EFFECTIVE DATE OF THE GUAM COMMONWEALTH

ACT.

This Act, upon approval by Congress, shall be submit

22 ted to the registered voters of Guam for ratification through a 23 plebiscite to be held in accordance with the laws of Guam. 24 This Act will become effective upon the approval of this Act 25 by a majority of the voters who participate in such plebiscite,

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Guam Commonwealth: Hearing Before the Subcommittee on Insular and ..., 파트 1