(a)
In general— To address previously accrued and unreimbursed impact expenses, at the request of the Governor of an affected jurisdiction, the President may reduce, release, or waive all or part of amounts owed by the Government of an affected jurisdiction (or the government’s autonomous agencies or instrumentalities) to any department, agency, independent agency, office, or instrumentality of the United States.
(b)
Terms and conditions—
(1)
Substantiation of impact costs— Not later than 120 days after the date of the enactment of this Act, the Governor of each affected jurisdiction shall submit to the Secretary a report, prepared in consultation with an independent accounting firm, substantiating unreimbursed economic impacts to the affected jurisdiction of receiving compact migrants from 2004 through 2021. Upon request of the Secretary, the Governor of the affected jurisdiction shall submit to the Secretary copies of all documents upon which the report submitted by that Governor was based.
(2)
Congressional review and comment— Any reduction, release, or waiver under this Act shall not take effect until 60 days after the President notifies Congress of the President’s intent to approve a request of the Governor of each affected jurisdiction. In exercising his authority under this section and in determining whether to give final approval to a request, the President shall take into consideration comments the President may receive after Congressional review.
(c)
Annual limit— The President may reduce, release, or waive, under subsection (a), amounts totaling, in the aggregate, not more than $100,000,000 annually.