Chapter 50

12 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 1 CHAPTER 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 2024 NOTE: Pursuant to 5 GCA § 1510, I Maga’hågan/Maga’låhen Guåhan means the 'Governor of Guam' and I Maga’håga/Maga’låhi means the 'Governor.' Pursuant to 2 GCA § 1101, I Liheslaturan Guåhan means the 'Guam Legislature' and I Liheslatura means the ' Legislature. ' Article 1 GEDCA Administration Article 2 Guam Product Seal Article 3 Guam Road Construction Mitigation, Grant and Loan Guarantee Program Article 4 Guam Film Office [Repealed] Article 5 Åkton Manhihita yan Manafa’Mamaolek Guam Intraregional Commerce Commission Act Article 6 Transshipment Task Force ARTICLE 1 GEDCA ADMINISTRATION NOTE: Due to the increasing content and complexity of 12 GCA Chapter 2, Guam Economic Development Authority, the Compiler has transferred all of what was in Chapter 2 of this Title to the various Chapters which correspond to the former Articles of Chapter 2. Fo r purposes of clarity and to permit the Legislature further expansion of the law relative to GEDA, the Chapters have been numbered to permit gaps to be filled later.

former Articles of Chapter 2. Fo r purposes of clarity and to permit the Legislature further expansion of the law relative to GEDA, the Chapters have been numbered to permit gaps to be filled later. Chapter 50 was formerly Article 1 of 12 GCA Chapter 2. § 50101. Guam Economic Development and Commerce Authority. § 50102. Principal Offices. § 50103. Purposes and Authorized Activities of Corporation. § 50103.1. Procedure for issuing bonds pursuant to 12 GCA 50103(k). § 50103.2. Award. § 50104. General Powers: Termination Date. § 50105. Board of Directors. § 50106. Administrator. § 50107. Same: Salary and Expenses. § 50108. Qualifications for Directors. § 50109. Board of Directors. Miscellaneous Provisions. § 50110. Corporate Use of Funds. § 50111. Annual Report and Audits. § 50112. Utilization of Governmental Agencies and Instrumentalities. § 50113. Amendments and Repeal of Statutes. § 50114. Division to be Liberally Construed. § 50115. Operating Fund Appropriation. § 50116. Loan Guarantees. § 50117. Rules and Regulations. § 50117.1. Amendments. § 50118. [Applicability of Sunshine Information Act and the Open Government Law.] § 50119.

erating Fund Appropriation. § 50116. Loan Guarantees. § 50117. Rules and Regulations. § 50117.1. Amendments. § 50118. [Applicability of Sunshine Information Act and the Open Government Law.] § 50119. Guam Memorial Hospital Authority Request For Information; Management And Operations. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 2 § 50101 . Guam Economic Development Authority. (a) There is hereby created a public, non -profit corporation to be known as the Guam Economic Development Authority (Authority) with functions, powers and responsibilities as hereinafter provided. (b) Any reference in any law to the Guam Economic Development and Commerce Authority (GEDCA) shall mean and be read as the Guam Economic Development Authority, and all references therein to the Administrator of GEDCA shall mean and be read as the Administrator of the Authority. (c) All references in any contract, Executive Order, rule, regulation or document to GEDCA, or the Administrator of GEDCA shall mean and be read as the Authority and the Administrator of the Authority, respectively. SOURCE: GC § 53550. Repealed and reenacted by P.L. 26 -076:34 (Mar.

GEDCA, or the Administrator of GEDCA shall mean and be read as the Authority and the Administrator of the Authority, respectively. SOURCE: GC § 53550. Repealed and reenacted by P.L. 26 -076:34 (Mar. 12, 2002), and P.L. 29 -113:VI:80 (Sept. 30, 2008). 2015 NOTE: As part of the government’s efforts to consolidate its departments and agencies, P.L. 26 -076:31(c) stated the following uncodified law: (c) Abolition of Department of Commerce. The Guam Economic Development and Commerce Authority (Authority) succeeds to, and is vested with, all the powers, duties, responsibilities and jurisdiction of the former Department of Commerce (DOC). § 50102 . Principal Offices. The principal office of the Corporation shall be located in Guam and the Corporation shall be deemed to be a resident of Guam. SOURCE: GC §3551. 2022 NOTE: Reference to 'territory' omitted pursuant to 1 GCA § 420. § 50103 . Purposes and Authorized Activities of Corporation. (a) It is the purpose of this Division to create a public non -profit corporation to assist in the implementation of an integrated program for the economic development of Guam.

vities of Corporation. (a) It is the purpose of this Division to create a public non -profit corporation to assist in the implementation of an integrated program for the economic development of Guam. It is intended for this Corporation to be a catalyst in the economic development which this Division seeks, aiding private enterprise without unfairly competing with it. It is a further purpose of this Division to enable the Corporation to expand the supply of money available in Guam to finance the construction of residential dwellings, i ncluding single family dwellings, multiple family dwellings, condominiums and cooperative apartments. It is hereby declared that there exists in Guam a substantial and serious shortage of housing in all categories, and that this shortage is inimical to the health and welfare of the residents of Guam and to the economic development of Guam. The inadequate supply of such housing results in the continuing existence and proliferation of substandard and decadent housing, with all its attendant consequences of disease, crime, injuries, retardation of education, and high costs of services such as police and fire protection.

feration of substandard and decadent housing, with all its attendant consequences of disease, crime, injuries, retardation of education, and high costs of services such as police and fire protection. It will thus serve the public welfare to stimulate an increase in the supply of decent, safe and sanitary housing, not only insofar as it benefits those who live in such housing but in that such housing will materially assist in the prevention of crime, th e improvement of education, the reduction of hazards from fire or structurally unsafe buildings, the improvement of the public health and a low ering of the cost of services. The expansion of the supply of housing in Guam is seriously hindered by a substantial, serious and continuing shortage of long -term mortgage money, resulting in part from the inability of United States based insurance companies to provide mortgage money in Guam because of United States income tax reasons. It is, therefore, imperative that mortgage financing be made available and the supply of available money to finance housing construction be increased. Without the assistance contemplated in this Division, the financing of or construction of decent, safe and

de available and the supply of available money to finance housing construction be increased. Without the assistance contemplated in this Division, the financing of or construction of decent, safe and sanitary housing in sufficient amounts to house the residents of Guam cannot be accomplished. A public exigency exists which makes the assistance contemplated by this Division a public purpose, and the necessity in the public interest for the provisions COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 3 hereinafter enacted is hereby declared as a matter of legislative determination. I Liheslatura has also found and determined that there exists an acute shortage of adequate, modern and efficient hospital facilities in Guam and that unless measures are adopted to alleviate such conditions, the need for such facilities will become increasingly more u rgent and serious. It is hereby declared that the safety, health and welfare of the people of Guam requires the provision of adequate, modern and efficient hospit al facilities in the various parts of Guam, and that it is the policy of Guam and a purpose of this Division to provide the means

Guam requires the provision of adequate, modern and efficient hospit al facilities in the various parts of Guam, and that it is the policy of Guam and a purpose of this Division to provide the means necessary for the acquisition, construction and provision of hospital facilities to serve the general public and to make reaso nably accessible to all the people of Guam modern and efficient hospital facilities. I Liheslatura has further found and declared that the financing, acquisition, construction, reconstruction, rehabilitation or improvement of hospital facilities and the pr ovision of such facilities as may be incidental or appurtenant thereto are public uses and public purposes for which public money may be expended and that the enactment of this Division is necessary and proper for effectuating the purposes hereof as herein after provided. I Liheslatura hereby further finds and determines that there exists in Guam conditions of substantial and persistent unemployment, thus adversely affecting the economy of our island and the prosperity, safety, health and general welfare of its inhabitants and their standard of living; and that the availability of financial assistance and

rsely affecting the economy of our island and the prosperity, safety, health and general welfare of its inhabitants and their standard of living; and that the availability of financial assistance and suitable facilities are important inducements to new and varied employment promoting enterprises to locate in Guam, and to existing enterprises to remain an d expand in our island. The provision of buildings, structures and other facilities to increase opportunity for employment in manufacturing, industrial, commercial, recreational, retail and service enterprises in Guam is in the public interest and is a pub lic purpose to induce and accelerate opportunity for employment in such enterprises. In order to aid in supplying these needs and to assist in the immediate reduction of unemployment and to provide sufficient employment for the citizens of Guam in the future, it is necessary and in the public interest to aid and encourage the immediate com mencement of new construction projects of all types. The availability of financial assistance by Guam will reduce present unemployment and improve future employment opport unities by encouraging and inducing the undertaking of such

ojects of all types. The availability of financial assistance by Guam will reduce present unemployment and improve future employment opport unities by encouraging and inducing the undertaking of such construction projects, the location, retaining or expanding of employment promoting enterprises with Guam. By virtue of Guam’s architectural and cultural heritage, its positions as principal centers of communication and transportation, this government is capable of ameliorating the conditions of deterioration which impede sound community growth and development; and that building a proper balance of industrial and commercial facilities and increasin g the attractiveness of Guam to persons of all income levels is essential to Guam as a desirable place to live, work, shop and enjoy life’s amenities; that the accomplishment of these objectives is beyond remedy solely by regulatory process and cannot be d ealt with effectively by the ordinary operations of private enterprise without the powers provided herein, and that the exercise of the powers herein provided is critical to continuing the process of revitalizing Guam and will serve an urgent public use an d purpose.

se without the powers provided herein, and that the exercise of the powers herein provided is critical to continuing the process of revitalizing Guam and will serve an urgent public use an d purpose. In order to aid in remedying the aforesaid conditions and to further and implement the purposes of this Division, the authority and powers conferred under this Division and expenditure of money pursuant thereto constitute a serving of a valid public purpos e and that enactment of the provisions of Article 5 of this Division is in the public interest and for the public benefit and good and is so declared to be as a matter of expressed legislative determination. (b) The Corporation is authorized to control and implement that part of the basic plan for the economic development of Guam, assigned to it by I Maga’hågan/Maga’låhen Guåhan . The Corporation shall also be an active participant in the development of said basic plan. (c) The Corporation is authorized to conduct or cause to be conducted research into natural resources, experiments, marketing methods and export possibilities, and to make known and publicize the results of such activities; provided, however, that when the Cor

onducted research into natural resources, experiments, marketing methods and export possibilities, and to make known and publicize the results of such activities; provided, however, that when the Cor poration proposes to enter into any research or similar investigative activity, it shall first ascertain that such activity is not being duplicated elsewhere in the government of Guam. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 4 (d) The Corporation is authorized to promote investments of entrepreneurial capital in Guam, if need be form and operate its own industries, invest in and provide technical assistance in support of its objectives, develop and maintain facilities for lease or s ale and provide for the expansion of agricultural, industrial, hospital, housing and tourist facilities through financial assistance and other means. (e) Except as specifically prohibited herein, the Corporation is authorized to make loans or guarantees of loans to any persons, firm, partnership or corporation licensed to do business in Guam in furtherance of the purposes and activities stated in this Divis ion.

uthorized to make loans or guarantees of loans to any persons, firm, partnership or corporation licensed to do business in Guam in furtherance of the purposes and activities stated in this Divis ion. All loans so made shall be of such sound value or so secured as to reasonably assure repayment, or shall be of such vital need to the economy of Guam as to warrant additional risks or subsidies. Each loan made by the Corporation may be sold to a comme rcial lending institution for a sum not less than the principal balance of said loan and the proceeds thereof returned to the capital fund of the Corporation, subject to the terms of any resolution of the Board of Directors of the Corporation authorizing t he issuance of revenue bonds. Each loan made by the Corporation shall include, wherever possible, an option on the part of the Corporation to convert up to fifty percent (50%) of the total loan so made into equity of one form or another. (f) The Corporation is authorized to issue, sell, or dispose of revenue bonds and other obligations from time to time under such terms and conditions as I Liheslaturan Guåhan , by appropriate legislation may prescribe.

is authorized to issue, sell, or dispose of revenue bonds and other obligations from time to time under such terms and conditions as I Liheslaturan Guåhan , by appropriate legislation may prescribe. The proceeds of such bonds and obligations shall be used solely to finance specifically authorized corporate programs. All fees that the Corporation may be eligible for resulting from its role as the Central Financial Manager for the government of Guam shall be paid from the source of repayment fo r the refinancing of bonds and other obligations, and shall only be included in the amount to be borrowed for new bond issues if the fees are to be included as part of the first and second year’s debt service as a 'principal only ' or 'reduced interest ' payment. (g) The Corporation is authorized to invest its funds in any enterprise, undertaking or other activity which, in its judgment, will further development of desirable agriculture, industry, hospital facilities, housing and commerce, and of tourism in Guam. (h) The Corporation is authorized to obtain land belonging to the government of Guam as required to carry out its purposes and objectives, under such terms and tenure as I

ce, and of tourism in Guam. (h) The Corporation is authorized to obtain land belonging to the government of Guam as required to carry out its purposes and objectives, under such terms and tenure as I Liheslatura , by appropriate legislation, may prescribe. (i) The Corporation is authorized to purchase from any person, firm, corporation or governmental entity, and to refinance, mortgages on residential real property, including single family dwellings, multiple family dwellings, condominiums and cooperative apartm ents, which are insured or guaranteed by an agency or instrumentality of the United States of America, by Guam, or by any other person, firm, corporation or governmental entity approved by the Board of Directors of the Corporation. The Corporation is also authorized to make commitments to purchase mortgages, conditioned upon the insurance of such mortgages by an agency or instrumentality of the United States of America, by Guam, or by any other person, firm, corporation or governmental entity approved by th e Board of Directors of the Corporation. Notwithstanding anything to the contrary herein, the Corporation is not authorized to make direct loans to any person, firm,

overnmental entity approved by th e Board of Directors of the Corporation. Notwithstanding anything to the contrary herein, the Corporation is not authorized to make direct loans to any person, firm, corporation or governmental entity on residential real property, including single family dwellings, multiple family dwellings, cond ominiums and cooperative apartments. (j) The Corporation is designated and authorized to be a development company as that term is defined in §662 of Title 15 of the United States Code. (k) The Corporation shall act as a central financial manager and consultant for those agencies or instrumentalities of the Government requiring financial guidance and assistance. Such technical assistance by the Corporation shall include, but not be limited to, obtaining of funds through bond or other obligations, structuring such bond issuances, preparation and dissemination of financial and investment information, COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 5 including bond prospectuses, development of interest among investment bankers and bond brokers, maintenance of relationships with bond rating agencies and

CONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 5 including bond prospectuses, development of interest among investment bankers and bond brokers, maintenance of relationships with bond rating agencies and brokerage houses and, generally, acting as the centralized and exclusive financial planner and invest ment banker for all the agencies and instrumentalities of the Government to include, but not be limited to, such public corporations as the Guam Economic Development and Commerce Authority, the Jose D. Leon Guerrero Commercial Port of Guam, the Antonio B. Won Pat International Airport Authority, Guam, the Guam Power Authority, the Guam Memorial Hospital Authority, the University of Guam, the Guam Waterworks Authority and all other agencies or instrumentalities of the Government given the power, now or in the future, to issue and sell bonds or othe r obligations for the purpose of raising funds. Such agencies or instrumentalities of the Government shall issue bonds and other obligations only by means of and through the agency of the Corporation, and each such agency or instrumentality shall furnish the Corporation long -term estimates of financial needs so that the Corporation can

s only by means of and through the agency of the Corporation, and each such agency or instrumentality shall furnish the Corporation long -term estimates of financial needs so that the Corporation can coordinate a long -term plan for obtaining necessary funds for all such agencies and instrumentalities on a rational, non -competitive and efficient basis. The Corporation shall not issue or sell any bond without the approval of I Liheslatura of the terms and conditions of the bonds. For the purpose of this Subsection, the terms bond or other obligations do not include an instrument evide ncing debt for a term of one (1) year or less. The provisions of this Section whereby the Corporation shall act as a central financial manager and consultant for those agencies requiring financial assistance shall not apply to those bonds or obligations which are sold by or to an agency of the Governme nt of the United States, however, the provisions of this Section where I Liheslatura must approve the terms and conditions of the issuance of the bonds shall apply to said bonds or obligations. The provisions of this Subsection shall not apply to bonds or other obligations issued pursuant to Article V

erms and conditions of the issuance of the bonds shall apply to said bonds or obligations. The provisions of this Subsection shall not apply to bonds or other obligations issued pursuant to Article V or Article VI of this Division on or before March 31, 1984, provided such bonds or other obligations are secured by a pledge of and lien upon the revenues and oth er funds or moneys derived from the projects or programs financed by the proceed of the sale of such bonds or other obligations and not by revenues and other funds or moneys derived from other projects or programs of the Corporation. (l) The Corporation is authorized to make loans or to guarantee loans to non -profit cooperative associations licensed to do business in Guam in furtherance of the purposes and activities stated in this Act. All loans or guarantees so made shall be of such sum, value or so secured as to reasonably assure repayment or shall be of such vital need to the economy of Guam as to warrant additional risk or subsidies. As used in this subsection, non -profit cooperative association means any corporation organized under th e provisions of 18 GCA Chapter 13.

economy of Guam as to warrant additional risk or subsidies. As used in this subsection, non -profit cooperative association means any corporation organized under th e provisions of 18 GCA Chapter 13. (m) The Guam Economic Development Agency (GEDA) shall be responsible for actively promoting Guam as a location for the establishment of Export trading companies. (n) The Authority shall promote and encourage the expansion and development of markets for the products of Guam. (o) The Authority shall promote and encourage the location and development of new businesses on Guam, as well as the retention and expansion of existing businesses, with particular emphasis upon encouraging the tourist and the large -scale fisheries industries. (p) An individual or business shall be ineligible for GEDA loans, leases, grants or other assistance if that individual or business, or any of its officers and/or directors, owners, partners, or shareholders that have more than five percent (5%) ownership inte rest in said business, including indirect ownership or other interest through proxy or trust, or sister parent or subsidiary ownership interest(s), personally or through a relative within one (1)

nte rest in said business, including indirect ownership or other interest through proxy or trust, or sister parent or subsidiary ownership interest(s), personally or through a relative within one (1) degree of consanguinity, has: (1) a record of delinquency that results in loan default on financial assistance obtained from GEDA or any other instrumentality of the government of Guam, unless borrower fully honored a work - out agreement to the satisfaction of the creditor; COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 6 (2) failed to meet and fulfill the terms and conditions of receiving GEDA assistance; (3) a past due or unpaid civil judgment in the Superior Court of Guam; or (4) engaged in any activity that has resulted in conviction of a felony or a crime of moral turpitude in the Courts of Guam, the United States and its territories, or foreign jurisdiction. This Section shall not apply in the event that the prosecution is dismissed with prejudice. SOURCE: GC § 53552. Subsections (a), (d), (e), (g) amended and subsection (i) added by P.L. 11 -033 (Apr. 28, 1971). Subsections (a), (d), (g) amended by P.L. 12 -069 (Dec. 20, 1973).

with prejudice. SOURCE: GC § 53552. Subsections (a), (d), (e), (g) amended and subsection (i) added by P.L. 11 -033 (Apr. 28, 1971). Subsections (a), (d), (g) amended by P.L. 12 -069 (Dec. 20, 1973). Subsection (j) added by P.L. 16 -035 (Sept. 3, 1981). Subsections (a) amended, (k) added) by P.L. 16 -066 (Mar. 5, 1982). Subsection (l) added by P.L. 16 -125 (Dec. 30, 1982) as (u). Subsection (k) amended by P.L. 17 -037 (Nov. 29, 1983), P.L. 17 -039 (Dec. 4, 1983). Subsection (m) added by P.L. 17 -067 (Sept. 7, 1984). Subsection (k) amended by P.L. 17 -074 (Oct. 26, 1984). Subsection (l) amended by P.L. 20 -097:1 (Oct. 13, 1989). Subsections (n), (o), (p) added by P.L. 26 -076:35 -37 (Mar. 12, 2002). The entire § 50103 repealed and reenacted by P.L. 27 -110:12 (Nov. 1, 2004). Section 5010 3 as it existed prior to P.L. 27 -110:12 reenacted by P.L. 28 -068:IV:71 (Sept. 30, 2005) which states P.L. 27 -110:12 is hereby repealed and of no effect as of the date of its enactment, except as provided herein, and the acts of the Guam Economic Development and Commerce Authority between said enactment and the present are not affected by its enactment. Subsection (p) repealed by P.L.

cept as provided herein, and the acts of the Guam Economic Development and Commerce Authority between said enactment and the present are not affected by its enactment. Subsection (p) repealed by P.L. 28 -068:IV:53. Subsection (k) amended by P.L. 28 -068:IV:71 and P.L. 28 -071:5 (Nov. 3, 2005). Subsection (a) amended by P.L. 29 -113:VI:81 (Sept. 30, 2008). Subsection (p) added by P.L. 30 -077:2 (Jan. 22, 2010). Subsection (p)( 4) amended by P.L. 31 -018:2 (Apr. 18, 2011). Subsection (f) amended by P.L. 34 -057 (Oct. 14, 2017). 2024 NOTE: Reference to the 'Governor of Guam' replaced with I Maga’hågan/Maga’låhen Guåhan pursuant to 5 GCA § 1510 . Reference to the 'Guam Legislature' replaced with I Liheslaturan Guåhan pursuant to 2 GCA § 1101. Reference to the 'Legislature ' replaced with I Liheslatura pursuant to 2 GCA § 1101. 2022 NOTE: References to 'territory' omitted and/or replaced with 'Guam' pursuant to 1 GCA § 420. Reference corrected to 'Antonio B. Won Pat International Airport Authority, Guam' pursuant to 12 GCA § 1102(b). § 50103.1 . Procedure for Issuing Bonds Pursuant to 12 GCA 50103 (k). (a) Bond Counsel.

Reference corrected to 'Antonio B. Won Pat International Airport Authority, Guam' pursuant to 12 GCA § 1102(b). § 50103.1 . Procedure for Issuing Bonds Pursuant to 12 GCA 50103 (k). (a) Bond Counsel. An experienced bond counsel shall be retained for each bond obligation issued by the Authority following General Services Administration procurement guidelines dealing with legal services. A bond counsel may be either kept on retainer or cont racted separately for each issue. The Authority’s bond counsel shall represent only the Authority and the government of Guam in each issue and neither the bond counsel nor any member of counsel’s firm shall represent any other interest in each bond issue. The bond counsel shall be involved at every level of decision making regarding bond issues. (b) Underwriters. The Authority shall select underwriters based on the following procedures: (1) Underwriters shall be chosen from replies to requests for proposals (RFPs) issued by the Authority. A minimum of five (5) underwriters shall be sent RFPs for each bond issue. A minimum of two (2) replies to RFPs must be received or the RFPs shall be cancel led and new RFPs issued.

by the Authority. A minimum of five (5) underwriters shall be sent RFPs for each bond issue. A minimum of two (2) replies to RFPs must be received or the RFPs shall be cancel led and new RFPs issued. (2) All of the replies to RFPs shall be received at a location to be determined by the Authority prior to issuance of the RFPs and maintained there unopened until the date set for opening. One (1) person shall be responsible for the custody of the proposals to ensure the integrity of the process. (3) The Authority shall designate one (1) person to handle all communications with underwriters to ensure continuity of information. All communications with underwriters shall be channeled through this individual who shall speak for the Authority. Copies of al l communications to and from the designee and the underwriters shall be made available to all members of the Board. (4) Members of the Board shall not discuss with underwriters any proposal currently under consideration. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 7 (5) The Authority shall set a date for the opening of the replies to RFPs from underwriters.

ration. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 7 (5) The Authority shall set a date for the opening of the replies to RFPs from underwriters. The presence of a quorum of the Board shall be required for the initial opening of the replies to RFPs and sufficient copies of the replies to RFPs shall be made avail able to the Board. After the replies to RFPs are distributed to the Board, the meeting may be adjourned and reconvened but only within 15 (fifteen) working days of the opening of the replies to RFPs. (6) Upon selection of an underwriter, the selected and unselected underwriters shall be immediately notified of the action. No modifications to the replies of RFPs submitted by the underwriters shall be allowed after opening, except that, if the Authority narr ows the selection to two (2) or more underwriters, final presentations by the narrowed group of underwriters shall be presented to the Board at a time and place to be determined by the Board, and minor modifications and clarifications of the proposals will be permitted. If the selection process is carried over to a meeting outside of Guam, this final selection process

rmined by the Board, and minor modifications and clarifications of the proposals will be permitted. If the selection process is carried over to a meeting outside of Guam, this final selection process shall either be videotaped or voice recorded for presentation to the whole Board. After reviewing the final presentations of the narrowed gro up of underwriters, the Board shall, within 10 (ten) working days of final presentation, select either one (1) managing underwriter or two (2) co -managing underwriters for the bond issue. (c) Trustee. Trustees shall be chosen from replies to RFPs issued by the Authority. RFPs shall be sent to a minimum of three (3) trustees for each bond issue. The Authority shall establish a deadline which will give interested parties sufficient time to prepar e replies to RFPs and sufficient time to transmit the replies to a specified location. Replies shall be opened at a specified location and time by a specified designee of the Board, in accordance with Guam’s open government laws. A minimum of two (2) repli es to RFPs must be received or the RFPs shall be cancelled and new RFPs issued. (d) Depository.

ified designee of the Board, in accordance with Guam’s open government laws. A minimum of two (2) repli es to RFPs must be received or the RFPs shall be cancelled and new RFPs issued. (d) Depository. Depositories shall be chosen from replies to RFPs issued by the Authority. RFPs shall be sent a minimum of three (3) depositories for each bond issue. The Authority shall establish a deadline which will give interested parties sufficient time t o prepare replies to RFPs and sufficient time to transmit their proposals to a specified location. Replies shall be opened at a specified location and time by a specified designee of the Board, in accordance with Guam’s open government laws. A minimum of t wo (2) replies to RFPs must be received or the RFPs shall be cancelled and new RFPs issued. (e) Municipal Paying Agent. Municipal paying agents shall be chosen from replies to RFPs issued by the Authority. RFPs shall be sent to a minimum of three (3) reputable municipal paying agents for each bond issue. The Authority shall establish a deadline which will give interested parties sufficient time to prepare replies to RFPs and sufficient time to transmit the replies to a specified location.

bond issue. The Authority shall establish a deadline which will give interested parties sufficient time to prepare replies to RFPs and sufficient time to transmit the replies to a specified location. Replies shall be opened at a specified location and time by a specified designee of the Board, in accordance with Guam’s open government laws. A minimum of two (2) replies to RFPs must be received or the RFPs shall be cancelled and new RFPs issued. (f) Financial services. In lieu of the provisions of § 50103 (c), (d) and (e), the Authority may opt to choose one firm to perform all financial services described in § 50103 (c), (d) and (e). The provider of financial services shall be chosen from replies to RFPs issued by the Authority. A minimum of five (5) firms shall be sent RFPs for each bond issue. A minimum of two (2) replies to RFPs must be received or the RFPs s hall be cancelled and new RFPs issued. (g) GEDA shall undertake its best efforts to cause a portion of any bonds issued or sold by the Guam Economic Development Authority on behalf of the government of Guam or any entity of the government, to be offered for sale to residents of Guam, as well as to residents of other

d or sold by the Guam Economic Development Authority on behalf of the government of Guam or any entity of the government, to be offered for sale to residents of Guam, as well as to residents of other jurisdictions, if and to the extent that such offer and any sales resulting from such offer do not increase the costs to the government of issuing and repaying such bonds. GEDA shall announce such bond issue in the local media outlets and solicit interest from local financial institutions, investment companies, and investor representatives. GEDA shall accept pre -issuance COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 8 subscription orders for such bonds prior to such bonds being offered to the non -local market. Upon the determination of market pricing of such bonds, GEDA shall notify the local purchaser who shall inform GEDA of a decision and commit to the purchase and execute all documents necessary to complete such purchase. SOURCE: Added by P.L. 19 -012:1 (Nov. 27, 1987 ). Subsection (g) added by P.L. 30 -191:1 (Aug. 28, 2010). NOTE: Pursuant to the authority granted by 1 GCA § 1606, the reference to 2103.1 in the section title

Added by P.L. 19 -012:1 (Nov. 27, 1987 ). Subsection (g) added by P.L. 30 -191:1 (Aug. 28, 2010). NOTE: Pursuant to the authority granted by 1 GCA § 1606, the reference to 2103.1 in the section title and subsection (f) was altered to reflect its codification in the GCA. § 50103.2 . Award. Award shall be made to the responsible offeror whose proposal in writing is the most advantageous to Guam taking into consideration price and the evaluation factors set forth in the RFPs. The contract file shall contain the basis on which the award is made . SOURCE: Added by P.L. 19 -012:1 (Nov. 27, 1987 ). 2022 NOTE: Reference to 'territory' replaced with 'Guam' pursuant to 1 GCA § 420. § 50104 . General Powers: Termination Date. The Corporation shall have, and may exercise, the following general powers in carrying on the activities specified in § 50103 of this Division: (a) To have perpetual succession, unless sooner terminated by law. (b) To adopt, alter and use a corporate seal, which shall be judicially noticed. (c) To adopt, amend and repeal bylaws and other rules, regulations and directives governing the conduct of its business, and the performance of the powers and duties granted to or

judicially noticed. (c) To adopt, amend and repeal bylaws and other rules, regulations and directives governing the conduct of its business, and the performance of the powers and duties granted to or imposed upon it by law. No rule or regulation other than that covering the internal conduct of the Corporation shall be adopted without a public hearing thereon in the manner prescribed by law. (d) To sue and to be sued in its corporate name. (e) To determine the character of and the necessity for its obligations and expenditures and the manner in which they shall be incurred, allowed and paid. (f) To acquire, in any lawful manner, any real property, and to hold, maintain, use and operate the same; and to sell, lease, encumber or otherwise dispose of the same, whenever any of the foregoing transactions are deemed necessary or appropriate to the condu ct of the activities authorized by this Division, and on such terms as may be prescribed by the Corporation. (g) To enter into and perform such contracts, leases, cooperative agreements, or other transactions with any agency or instrumentality of the United States, or with any state, territory or possession or any political subdivision

such contracts, leases, cooperative agreements, or other transactions with any agency or instrumentality of the United States, or with any state, territory or possession or any political subdivision thereof, or with any person, fi rm, association or corporation, as may be deemed necessary or appropriate to the conduct of the activities authorized by this Division, and on such terms as may be prescribed by the Corporation. (h) To execute all instruments necessary or appropriate in the exercise of any of its functions. (i) To employ such employees to provide such clerical and technical assistance as may be necessary for the conduct of the business of the Corporation; to delegate to them such powers and to prescribe for them such duties as may be deemed appropriate by the Cor poration; to fix and pay such compensation to them for their services as the Corporation may determine without regard to the provisions of the personnel and compensation law; to require bonds from such of them as the Corporation may designate, the premiums therefor to be paid by the Corporation, and to remove and COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH.

pensation law; to require bonds from such of them as the Corporation may designate, the premiums therefor to be paid by the Corporation, and to remove and COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 9 discharge such employees and other clerical and technical assistants, pursuant to the provisions of the personnel regulations adopted pursuant to the provisions of 4 GCA § 4105 and § 4106. (j) To accept gifts or donations of services, or of property -- real, personal or mixed, tangible or intangible -- in aid of any of the activities authorized by this Division. (k) In accordance with Title 5 GCA Chapter 5 (Procurement Law), to construct, equip, operate and maintain buildings, works, factories, plants, forms, fisheries and other facilities, including all equipment, supplies and machinery incident thereto. (l) To form or cause to be formed, to promote, to aid and to invest in any manner within its means in the promotion of any corporation or other association, and to cause or participate in the merger, consolidation, reorganization, liquidation or dissolution of any corporation or association in which, or in the business of which

tion or other association, and to cause or participate in the merger, consolidation, reorganization, liquidation or dissolution of any corporation or association in which, or in the business of which the Corporation shall have direct or indirect interest. (m) To settle and adjust claims held by it against other persons or parties and by other persons or parties against the Corporation. (n) To borrow funds required to finance revenue producing projects, and to dedicate revenue derived therefrom to the repayment of such loans. (o) To recommend to I Maga’hågan/Maga’låhen Guåhan the issuance, modification, revocation and suspension of Qualifying Certificates in accordance with the provisions of this Division. This power does not include the power to recommend that I Maga’hågan/Maga’låhen Guåhan execute Exclusive Certificates. (p) The Corporation shall submit to I Liheslatura , through I Maga’hågan/Maga’låhen Guåhan , from time to time such legislation as it deems necessary to expeditiously and effectively foster desirable industry, commerce, hospital facilities, housing and tourism in Guam.

an/Maga’låhen Guåhan , from time to time such legislation as it deems necessary to expeditiously and effectively foster desirable industry, commerce, hospital facilities, housing and tourism in Guam. (q) To take such action and carry on any other operations and do all that may be necessary or appropriate to carry out the powers and duties herein or hereafter specifically granted to or imposed upon it. (r) To endorse, guarantee and secure the payment and satisfaction of bonds, coupons, mortgages, deeds of trust, debentures, obligations, evidences of indebtedness and shares of stock of other corporations, as far as and to the extent that the same is necessary and appropriate to carry out the Corporation’s authorized and permissible activities under its powers and functions. (s) To purchase from any person, firm, corporation or governmental entity, and to refinance, mortgages on residential real property, including single family dwellings, multiple family dwellings, condominiums and cooperative apartments, which are insured or gua ranteed by an agency or instrumentality of the United States of America, by Guam, or by any other person, firms, corporation or governmental entity

nd cooperative apartments, which are insured or gua ranteed by an agency or instrumentality of the United States of America, by Guam, or by any other person, firms, corporation or governmental entity approved by the Board of Directors of the Corporation; to make commitments to purchase mortgages, conditione d upon the insurance or guarantee of such mortgages by an agency or instrumentality of the United States of America, by Guam, or by any other person, firm corporation or governmental entity approved by the Board of Directors of the Corporation; to impose f ees and charges for its services; and through its Board, to issue such rules and regulations as may be necessary to carry out the provisions of this Division. (t) To negotiate an agreement guaranteeing a loan for the construction of tourist attractions depicting the historical and cultural development of the Chamorro people. The guarantee agreement shall provide that the real property and improvements be pledged to the lender as security for repayment of the loan or to the Authority as security for the guarantee. Revenues collected by any such facility shall be pledged for repayment of the loan.

s be pledged to the lender as security for repayment of the loan or to the Authority as security for the guarantee. Revenues collected by any such facility shall be pledged for repayment of the loan. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 10 (u) To acquire in accordance with 5 GCA, Chapter 5, any tangible personal property and to hold, maintain, use and operate the same; and to sell, lease, encumber or otherwise dispose of the same, whenever any of the foregoing transactions are deemed necessary o r appropriate to the conduct of the activities authorized by this Division, and on such terms as may be prescribed by the Corporation. (v) To acquire, in any lawful manner, any intangible personal property, and to hold, maintain, use and operate the same; and to sell, encumber or otherwise dispose of the same, whenever any of the foregoing transactions are deemed necessary or appropriate to t he conduct of the activities authorized by this Division, and on such terms as may be prescribed by the Corporation. SOURCE: GC § 53553; Subsection (f) amended by P.L. 16 -124 (Dec. 30, 1982 ); Subsection (i) amended by P.L. 16 - 023 (Aug.

by this Division, and on such terms as may be prescribed by the Corporation. SOURCE: GC § 53553; Subsection (f) amended by P.L. 16 -124 (Dec. 30, 1982 ); Subsection (i) amended by P.L. 16 - 023 (Aug. 12, 1981 ); Subsection (k) amended by P.L. 16 -124; Subsection (o) amended by P.L. 16 -035 (Sept. 3, 1981 ); Subsection (p) amended by P.L. 11 -033 (Apr. 28, 1971 ) and P.L. 12-069 (Dec. 20, 1973 ); Subsection (s) added by P.L. 11-033 amended by P.L. 17 -039 (Dec. 4, 1983 ); Subsection (t) added by P.L. 16 -088 (June 3, 1982 ); Subsections (u) and (v) [originally added as (t) and (u)] added by P.L. 16 -124. 2024 NOTE: Reference to the 'Governor of Guam' replaced with I Maga’hågan/Maga’låhen Guåhan pursuant to 5 GCA § 1510 . Reference to the 'Legislature ' replaced with I Liheslatura pursuant to 2 GCA § 1101. 2022 NOTE: References to 'territory' omitted and/or replaced with 'Guam' pursuant to 1 GCA § 420. 2013 NOTE: Pursuant to the authority granted by 1 GCA § 1606, the reference in subsection (u) to Title VII -A of the Government Code was altered to reflect its codification in the GCA. § 50105 . Board of Directors.

uant to the authority granted by 1 GCA § 1606, the reference in subsection (u) to Title VII -A of the Government Code was altered to reflect its codification in the GCA. § 50105 . Board of Directors. All functions and powers of the Corporation shall be vested in and be exercised by and under the direction of a Board of Directors hereinafter referred to as the Board, composed of seven (7) members, appointed by I Maga’hågan/Maga’låhen Guåhan with the advice and consent of I Liheslaturan Guåhan . Members of the Board shall serve for a term of four (4) years. I Maga’håga/Maga’låh i shall appoint a member of the Board to serve as Chairman. SOURCE: GC § 53554. 2024 NOTE: Reference to the 'Governor of Guam' replaced with I Maga’hågan/Maga’låhen Guåhan pursuant to 5 GCA § 1510 . Reference to the 'Governor' replaced with I Maga’håga/Maga’låhi pursuant to 5 GCA § 1510. Reference to the 'Guam Legislature' replaced with I Liheslaturan Guåhan pursuant to 2 GCA § 1101 . § 50106 . Administrator. I Maga’hågan/Maga’låhen Guåhan , upon the recommendation of the Board and with the consent of I Liheslaturan Guåhan , shall appoint an Administrator who shall be directly responsible to the Board for the

ga’hågan/Maga’låhen Guåhan , upon the recommendation of the Board and with the consent of I Liheslaturan Guåhan , shall appoint an Administrator who shall be directly responsible to the Board for the day-to-day operation of the Corporation and shall administer its programs and policies. The Administrator shall be an ex officio member of the Board, without the right to vote therein. His term of office shall be fixed by the Board, unless sooner terminated by I Maga’håga/Maga’låh i upon the recommendation of the Board. SOURCE: GC § 53555. 2024 NOTE: Reference to the 'Governor of Guam' replaced with I Maga’hågan/Maga’låhen Guåhan pursuant to 5 GCA § 1510 . Reference to the 'Governor' replaced with I Maga’håga/Maga’låhi pursuant to 5 GCA § 1510. Reference to the 'Guam Legislature' replaced with I Liheslaturan Guåhan pursuant to 2 GCA § 1101 . § 50107 . Same: Salary and Expenses. The Administrator shall be paid a salary and such other allowances and emoluments as the Board may approve. SOURCE: GC § 53556. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 11 § 50108 . Qualifications for Directors.

nd emoluments as the Board may approve. SOURCE: GC § 53556. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 11 § 50108 . Qualifications for Directors. The Board members to be appointed by I Maga’hågan/Maga’låhen Guåhan as above state shall be U.S. citizens, selected from individuals who have resided in Guam at least six (6) continuous months immediately preceding their appointments, who have demonstrated their ability and their attachment to public interest, and selecte d to provide diversified experience among Board members. The Administrator shall be a U.S. citizen, appointed without regard to the provisions of Personnel Laws and who possesses qualities, knowledge, experience and diversified ability necessary to pursue effectively the program of the Corporation, regardless of the length of his previous residence on Guam. SOURCE: GC § 53557. 2024 NOTE: Reference to the 'Governor of Guam' replaced with I Maga’hågan/Maga’låhen Guåhan pursuant to 5 GCA § 1510. § 50109 . Board of Directors. Miscellaneous Provisions. (a) The Board shall be responsible for the management, administration, policies and direction of the Corporation and

pursuant to 5 GCA § 1510. § 50109 . Board of Directors. Miscellaneous Provisions. (a) The Board shall be responsible for the management, administration, policies and direction of the Corporation and shall exercise supervision through the Administrator. (b) The Board shall meet in regular session at least once each month, and in special session as often as it may deem necessary. (c) A majority of the Board shall constitute a quorum for the transaction of business. The Board shall act by the vote of at least four (4) of its members. (d) The Directors shall receive no salary for their services on the Board, but in amounts prescribed by the Board, they may be paid a reasonable per diem not to exceed Fifty Dollars ($50.00) for attendance at meetings of the Board and reasonable travel allowan ces for time spent on official business of the Corporation. SOURCE: GC § 53558, as amended by P.L. 13 -195 (Oct. 5, 1976) . CROSS -REFERENCES: See 5 GCA § 43104 for further limitations on Board compensation. § 50110 . Corporate Use of Funds. (a) The Corporation is authorized to use its funds, from whatever source derived, in the exercise of its corporate powers and functions.

tions on Board compensation. § 50110 . Corporate Use of Funds. (a) The Corporation is authorized to use its funds, from whatever source derived, in the exercise of its corporate powers and functions. (b) The Corporation shall contribute to the Government of Guam Retirement Fund on the basis of annual billings as determined by the Department of Administration, for the Government’s share of the costs of the retirement benefits applicable to the Corporation’s employment and their beneficiaries. The Corporation shall provide Workmen’s Compensation coverage for its employees. SOURCE: GC § 53559. § 50111 . Annual Report and Audits. The Corporation shall submit to I Maga’hågan/Maga’låhen Guåhan and I Liheslaturan Guåhan a detailed annual report of activities and an audited annual financial report. For this purpose, it shall contract for independent auditing services. It shall also submit to I Maga’hågan/Maga’låhen Guåhan and I Liheslaturan Guåhan such other special reports as they may require from time to time. The Corporation’s books shall likewise be subject to annual legislature audit as prescribed by law. SOURCE: GC § 53560.

aturan Guåhan such other special reports as they may require from time to time. The Corporation’s books shall likewise be subject to annual legislature audit as prescribed by law. SOURCE: GC § 53560. 2024 NOTE: Reference to the 'Governor of Guam' replaced with I Maga’hågan/Maga’låhen Guåhan pursuant to 5 GCA § 1510 . Reference to the 'Guam Legislature' replaced with I Liheslaturan Guåhan pursuant to 2 GCA § 1101 . COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 12 § 50112 . Utilization of Governmental Agencies and Instrumentalities. The services and facilities of agencies and instrumentalities of the Federal Government and of the government of Guam may be made available to the Corporation in the exercise of its functions to the extent allowed by law. SOURCE: GC § 53562. § 50113 . Amendments and Repeal of Statutes. (a) Title XLIX of the Government Code of Guam, known as the Guam Incentive Tax Act is hereby repealed in its entirety, provided however, that any tax incentives heretofore granted to any person, firm, partnership or corporation under the provisions of said Act shall continue to be respected and honored by the government of

ed however, that any tax incentives heretofore granted to any person, firm, partnership or corporation under the provisions of said Act shall continue to be respected and honored by the government of Guam as long as the beneficiary of such benefits complies with the terms and conditions appearing on the face of the certificate of tax exemption or tax subsidy issued to that beneficiary. (b) Title XLVIII of the Government Code of Guam creating the Economic Incentive Commission is hereby repealed in its entirety. SOURCE: GC § 53590. 2012 NOTE: In maintaining the general codification scheme of the GCA the Compiler changed the hierarchy of subsections beginning with 'Numbers' to 'Lowercase Letters' in this section. § 50114 . Division to Be Liberally Construed. This Division shall be construed liberally so far as may be necessary for the purpose of effecting its general intent. The declaration of invalidity or nullity of any provision of this Division by competent court shall not effect the force and validity of the remaining provisions. SOURCE: GC § 53591. § 50115 . Operating Fund Appropriation.

lidity or nullity of any provision of this Division by competent court shall not effect the force and validity of the remaining provisions. SOURCE: GC § 53591. § 50115 . Operating Fund Appropriation. There is hereby appropriated and set aside, for transfer to the Corporation effective 1 July 1965, as its operating fund, out of any money in the Treasury of Guam not otherwise appropriated, the sum of One Hundred Thousand Dollars ($100,000) for operating expenses of said Corporation up to and including 30 June 1966. SOURCE: GC § 53593. § 50116 . Loan Guarantees. The government of Guam will guarantee up to One Million Six Hundred Thousand Dollars ($1,600,000) of loans guaranteed by the Guam Economic Development Authority, or of loans made directly to the Guam Economic Development Authority, by any financial institu tions for the purpose of carrying out its development projects, but not to exceed Four Hundred Thousand Dollars ($400,000) in any one (1) fiscal year beginning July 1, 1968, and further, not to exceed Two Hundred Thousand Dollars ($200,000) on any one (1) project. SOURCE: GC § 53595. § 50117 . Rules and Regulations.

000) in any one (1) fiscal year beginning July 1, 1968, and further, not to exceed Two Hundred Thousand Dollars ($200,000) on any one (1) project. SOURCE: GC § 53595. § 50117 . Rules and Regulations. The Corporation shall review and revise its existing standard operating procedures, and create rules and regulations (Rules), for the Corporation regarding loans, tax qualifying certificates, and all other functions and operations of the Corporation in acc ordance with the provisions of the Administrative Adjudication Law. Such Rules shall include procedures for assisting those small business concerns participating in the A -76 Performance of Commercial Activities, as authorized in § 54103 of Title 12 of the COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 13 Guam Code Annotated. The Corporation shall complete this process of revising its Rules within thirty (30) days from the enactment of this provision into law. SOURCE: Added by P.L. 19 -013:6 (Dec. 1, 1987 ). Amended by P.L. 24 -295:9 (Oct. 21, 1998 ). § 50117.1 . Amendments. Any subsequent change in the rules and regulations shall be made in accordance with provisions of the

L. 19 -013:6 (Dec. 1, 1987 ). Amended by P.L. 24 -295:9 (Oct. 21, 1998 ). § 50117.1 . Amendments. Any subsequent change in the rules and regulations shall be made in accordance with provisions of the Administrative Adjudication Act. SOURCE: Added by P.L. 19 -013:6 (Dec. 1, 1987) . § 50118. [Applicability of Sunshine Information Act and the Open Government Law.] Notwithstanding any other provision of law, the Guam Economic Development and Commerce Authority shall be subject to the Freedom of Information Law and the Sunshine Information Act of 1999, 5 GCA Chapter 10, and the Open Government Law, 5 GCA Chapter 8. SOURCE: Added as uncodified law by P.L. 27 -018:2 (Apr. 26, 2003). Codified to this section by the Compiler. § 50119 . Guam Memorial Hospital Authority Request for Information; Management and Operations. Request for Information. The Guam Economic Development Authority (GEDA) shall develop and publish a Request for Information (RFI) for the purpose of soliciting and determining public interest and the desired direction public policymakers may take relative to the management and ope ration(s) of the Guam Memorial Hospital Authority (GMHA).

rpose of soliciting and determining public interest and the desired direction public policymakers may take relative to the management and ope ration(s) of the Guam Memorial Hospital Authority (GMHA). (a) The information to be solicited shall include, at a minimum, but shall not be limited to: (1) the transfer of the management and operation of GMHA in its entirety to either a for - profit or non -profit entity; (2) the transfer of limited management and operation of only specific GMHA operations and assets; (3) a public/private collaboration in the operation of the hospital; (4) a public/private collaboration in renovations to the existing hospital structure or rebuilding a new hospital facility; (5) the re -use of the existing GMHA facility and/or property; (6) an assessment of Guam’s healthcare industry and market and gaps in overall healthcare services; (7) information related to the level of available federal and non -governmental funding mandated by law and how any change in GMHA’s operational structure would impact the availability of federal and non -governmental funding; (8) an assessment of Guam’s healthcare information and research infrastructure; (9) the continued

GMHA’s operational structure would impact the availability of federal and non -governmental funding; (8) an assessment of Guam’s healthcare information and research infrastructure; (9) the continued provision of quality hospital services accessible to all the people of Guam; (10) information relative to an annual health care summit that will gather industry leaders, policymakers, regulators, providers, payers and patient representatives to discuss what it takes to make innovation affordable and medicine safe and accessible; (11) a feasibility study for a universal regional health insurance plan to include the FSM and RMI; COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 14 (12) a feasibility study for a universal regional health insurance plan to include Guam, CNMI, FSM and RMI; and (13) a feasibility study for a health insurance plan to cover indigent programs (MIP and Medicaid). (b) [No text] (1) The publication of the RFI shall expressly state that it is being issued solely for the purpose of soliciting public information for planning purposes, does not constitute a Request for Proposal (RFP), and does not commit the government

essly state that it is being issued solely for the purpose of soliciting public information for planning purposes, does not constitute a Request for Proposal (RFP), and does not commit the government to contract for any supply or service. (2) GEDA shall not accept unsolicited submissions that are deemed beyond the scope and intent of the RFI. (c) [No text] (1) Respondents shall be advised that the government of Guam will not pay for any information received or administrative costs incurred in responding to this RFI. (2) All costs experienced or associated with responding to this RFI will be incurred solely at the contributing party’s expense. (3) Not responding to this RFI does not preclude participation in any future RFP, if any is issued. (4) All submissions to this Request for Information shall become the property of the government of Guam, subject to public review, and will not be returned. (5) Any issues relating to intellectual property and copyright must be clarified by the respondent and clearly marked. (d) Delivery Period/Dissemination. GEDA shall publicly disseminate the RFI in a manner to solicit the broadest number of qualified interested respondents.

rified by the respondent and clearly marked. (d) Delivery Period/Dissemination. GEDA shall publicly disseminate the RFI in a manner to solicit the broadest number of qualified interested respondents. Registries, direct mailings, and other methods, at a minimum, shall be utilized to maximize the potential number of responses to the RFI. (e) GEDA shall adhere to the following schedule: (1) within sixty (60) days from enactment of this Act, develop and publish the Request for Information (RFI); (2) provide for a fifteen (15) day question period, Saturday, Sunday, and government holidays excepted, commencing from the date of publication, for requested clarification(s) on the RFI from interested parties/potential respondents; (3) provide a thirty (30) day period, Saturday, Sunday, and government holidays excepted, after the close of the question period for submission to the RFI by respondents; (4) compilation by GEDA of the RFI submissions by respondents; and (5) transmittal of the RFI compilation/results from GEDA to I Maga’håga n/Maga’låhen Guåhan and I Liheslaturan Guåhan no more than thirty days (30) days after the receipt of information to the RFI. SOURCE: Added by P.L.

he RFI compilation/results from GEDA to I Maga’håga n/Maga’låhen Guåhan and I Liheslaturan Guåhan no more than thirty days (30) days after the receipt of information to the RFI. SOURCE: Added by P.L. 33 -143:2 (Apr. 12, 2016) as 12 GCA Chapter 68A. Renumbered to this section by the Compiler pursuant to authority granted by 1 GCA § 1606. 2024 NOTE: The Compiler has added 'no text ' to indicate a change in formatting only; the content of the provision has not been altered. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 15 ARTICLE 2 GUAM PRODUCT SEAL SOURCE: This Article was added by P.L. 26 -076:38 (Mar. 12, 2002) as part of the transfer of the Department of Commerce activities to GEDCA. § 50201. Seal Created. § 50202. Administration. § 50203. Guam Product Seal Fund. § 50204. Responsibilities. § 50205. Definitions. § 50206. Eligibility. § 50207. Violations. § 50208. Fines. § 50209. Recovery of Merchandise. § 50210. Penalty. § 50211. Collection. § 50201 . Seal Created. There is created a Guam Product Seal to identify products manufactured on Guam. § 50202 . Administration.

0209. Recovery of Merchandise. § 50210. Penalty. § 50211. Collection. § 50201 . Seal Created. There is created a Guam Product Seal to identify products manufactured on Guam. § 50202 . Administration. The Guam Economic Development and Commerce Authority (Authority) shall administer the provisions of this Chapter and shall promulgate rules and regulations, in accordance with the Administrative Adjudication Law, to carry out the purposes of this Chapter. § 50203 . Guam Product Seal Fund. There is established a fund to be known as the Guam Product Seal Fund, which shall be maintained separate and apart from any other funds of the government of Guam. Independent records and accounts shall be maintained in connection therewith. Funds of the Guam Product Seal Fund shall be used exclusively for the administration and operations of the Guam Product Seal Program. All funds collected from fees, charges or fines levied pursuant to this Chapter shall be deposited into the Guam Product Seal Fund. § 50204 . Responsibilities. The Authority shall: (a) develop, or have developed, a design for the Guam Product Seal; (b) assess the local value added in the production processes of manufacturers

und. § 50204 . Responsibilities. The Authority shall: (a) develop, or have developed, a design for the Guam Product Seal; (b) assess the local value added in the production processes of manufacturers applying for permission to place the seal upon their products; (c) issue permits for use of the seal to eligible applicants; (d) ensure ongoing compliance with the eligibility requirements by all manufacturers who have been issued permits; (e) conduct field investigations of products bearing the seal, both on its own initiative and in response to information and complaints received from the public; (f) levy fines on manufacturers, importers, distributors and retailers found to be in violation of this Chapter; COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 16 (g) transmit information regarding the levy of fines to the Department of Revenue and Taxation; and (h) take appropriate steps to notify businesses about the requirements of this Chapter. § 50205 . Definitions. For purposes of this Chapter: (a) 'Value added ' shall be the difference between the wholesale price of the product, if sold at wholesale, or the retail price of the

s Chapter. § 50205 . Definitions. For purposes of this Chapter: (a) 'Value added ' shall be the difference between the wholesale price of the product, if sold at wholesale, or the retail price of the product, if sold directly by the manufacturer, and the sum of both the total landed cost of all material components of the product that ha ve been brought into Guam and the total landed cost of materials, excluding machinery used in the production process that have been brought into Guam. (b) 'Substantial transformation ' shall mean the conversion of commodities into products of a different and distinguishable commercial use or character. (c) 'Article' shall mean the commodity or product in a package or container that is available for purchase by the consumer. (d) 'Perishable consumer commodity' shall mean an article packaged and offered for consumption as a food product or for use by individuals for the purpose of personal care or in the performance of services ordinarily rendered in or about the household in conne ction with personal possessions; and is intended to have a limited shelf life, including, but not limited to, articles such as baked goods, dairy products, cut or dried

r about the household in conne ction with personal possessions; and is intended to have a limited shelf life, including, but not limited to, articles such as baked goods, dairy products, cut or dried flowers, fruits, vegetables and meats; coffee, candies, cookies, jams, jellies, juices, oils, nuts, or such similar products. (e) 'Standard Labeling Practices' shall be defined by the most current rules and regulations that have been established by the United States Food and Drug Administration relative to General Food Labeling Requirements. (f) 'Permanent' refers to the print on the article’s packaging or container designed to remain until received by the end user or ultimate purchaser at the point of sale in a retail establishment. (g) 'Legible' shall mean markings which are clearly identified and which can be read without strain. (h) 'Conspicuous' shall be reflected by markings which appear on the article’s packaging or container in a place which is readily accessible, and where the marking noting the product’s origin can be found upon casual examination. SOURCE: Subsections (c) through (h) added by P.L. 31 -136:2 (Nov.

ainer in a place which is readily accessible, and where the marking noting the product’s origin can be found upon casual examination. SOURCE: Subsections (c) through (h) added by P.L. 31 -136:2 (Nov. 17, 2011), effective no later than (280) days after enactment into law, pursuant to P.L. 31 -136:4 and further extended to March 17, 2013, pursuant to P.L.31 -233:XII:21 (Sept. 7, 2012). § 50206 . Eligibility. The Guam Product Seal may be used only on a product manufactured on Guam that results from a substantial transformation of the materials used in the creation of the product and for which a minimum of fifty percent (50%) of the value of the product has been added on Guam. To obtain a permit to use the seal, a manufacturer must apply to the Authority. A permit to use the Guam Product Seal shall be effective for one (1) year. § 50207 . Violations. (a) It shall be unlawful for any business to place a Guam Product Seal on a product if the business does not have a current permit allowing the product to have such a seal. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 17 (b) It shall be unlawful for any business establishment to state or

he product to have such a seal. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 17 (b) It shall be unlawful for any business establishment to state or imply in an advertisement or display of any type, including packaging, that a manufactured product is made on Guam if the product does not have a Guam Product Seal on it. (c) It shall be unlawful for persons or any retail store, wholesaler, manufacturer, importer, distributor or business establishment to sell any article(s) offered as a perishable consumer commodity that has the word 'Guam' or 'Chamorro,' or a derivation of suc h words, on the packaging of the product, if such product was not manufactured in Guam, unless the place where the product was manufactured is clearly and permanently labeled on the product. (d) Any use of the word 'Guam' or 'Chamorro,' or a derivation of such words, on the exterior packaging of perishable consumable commodities at the point of sale, if such product was not manufactured in Guam or if the product is not a registered commodity under the Guam Product Seal Permit, shall have the phrase, 'Made in . . .,' or 'Product of . .

nt of sale, if such product was not manufactured in Guam or if the product is not a registered commodity under the Guam Product Seal Permit, shall have the phrase, 'Made in . . .,' or 'Product of . . .,' followed by the country of origin, clearly labeled on the package or container of an article, e.g. 'Made in U.S.A.', 'Made in China', 'Made in Philippines', etc; or 'Product of the U.S.A.', 'Product of China', 'Product of the Philippines', etc. (e) The 'Made in . . .' or 'Product of . . .' phrase shall be included on the packaging or container of an article in legible and permanent print located in the front of the article’s package. Such words and fonts shall be equal in length, and no less than hal f the width in approximate size of the word 'Guam' or 'Chamorro,' or any derivatives used, and shall be conspicuous and legible to the average consumer. (f) The origin of the article shall also be included in the back or side of the packaging in conformance with standard labeling practices. SOURCE: Subsection (c) amended by P.L. 31 -136:3 (Nov. 17, 2011), effective no later than (280) days after enactment into law, pursuant to P.L.

kaging in conformance with standard labeling practices. SOURCE: Subsection (c) amended by P.L. 31 -136:3 (Nov. 17, 2011), effective no later than (280) days after enactment into law, pursuant to P.L. 31 -136:4 and further extended to March 17, 2013, pursuant to P.L.31 -233:XII:21 (Sept. 7, 2012). Subsections (d), (e) and (f) added by P.L. 31 -136:3 (Nov. 17, 2011), effective no later than (280) days after enactment into law, pursuant to P.L. 31 -136:4 and further extended to March 17, 2013, pursuant to P.L.31 -233:XII:21 (Sept. 7, 2012). § 50208 . Fines. For each violation of Subsection (a) of § 50207 of this Chapter, the Authority shall levy a fine against the firm in an amount equal to or greater than Two Thousand Five Hundred Dollars ($2,500.00), but not to exceed Five Thousand Dollars ($5,000.00) per t ype of product. For each violation of § 50207(b) or (c) of this Chapter, the Authority shall levy a fine against the firm in an amount equal to or greater than Five Hundred Dollars ($500.00), but not to exceed Two Thousand Dollars ($2,000.00) per type of p roduct. Separate fines shall be levied each separate time a business is found to have violated § 50207 of this Chapter.

ars ($500.00), but not to exceed Two Thousand Dollars ($2,000.00) per type of p roduct. Separate fines shall be levied each separate time a business is found to have violated § 50207 of this Chapter. Such fines shall be payable to the Department of Revenue and Taxation and shall be credited to the Guam Product Seal Fund. § 50209 . Recovery of Merchandise. In the case of any violation of § 50207(a) of this Chapter, the Authority shall order the firm to recover from wholesalers and retailers and to take off the market all products sold with a Guam Product Seal for which the firm did not have a permit when the seal was placed upon the product. § 50210 . Penalty. (a) The Department of Revenue and Taxation shall revoke the business license of any firm if, after a hearing, it determines that the firm: (1) failed to pay a fine levied pursuant to § 50208 of this Chapter within ninety (90) days after the fine was levied; or COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 18 (2) failed to recover merchandise in accordance with an order issued pursuant to § 50209 of this Chapter within ninety (90) days after the order was issued.

OMIC DEVELOPMENT AND COMMERCE AUTHORITY 18 (2) failed to recover merchandise in accordance with an order issued pursuant to § 50209 of this Chapter within ninety (90) days after the order was issued. (b) The Department of Revenue and Taxation shall not renew the business license of any business if the business has not paid a fine levied pursuant to this Chapter. § 50211 . Collection. The Department of Revenue and Taxation is responsible for the collection of all fines levied by the Authority pursuant to § 50208 of this Chapter. ARTICLE 3 GUAM ROAD CONSTRUCTION MITIGATION GRANT AND LOAN GUARANTEE PROGRAM SOURCE: Article 3 added by P.L. 31 -013:2 (Mar. 30, 2011). 2011 NOTE: Article 3 was formerly entitled 'Public Market' which was repealed by P.L. 28 -068:IV:54 (Sept. 30, 2005). § 50301. Establishment. § 50302. Definitions. § 50303. Administration. § 50304. Eligibility. § 50305. Applications. § 50306. Application for Program Grants. § 50307. Application for Program Loans. § 50308. Appeal. § 50309. Funding. § 50310. Fund Distribution. § 50311. Same. § 50301 . Establishment. The Guam Economic Development Authority (GEDA) shall develop, implement, and administer the Government of Guam

l. § 50309. Funding. § 50310. Fund Distribution. § 50311. Same. § 50301 . Establishment. The Guam Economic Development Authority (GEDA) shall develop, implement, and administer the Government of Guam Mitigation Program for Business Interruption to make grants, loans, or a combination of both to small and mid -size businesses to mitigate the imp acts of government projects. § 50302 . Definitions. For purposes of this Section, except as otherwise specifically provided, the following words and phrases, together with all of the common derivatives thereof (i.e. verbs, plurals, feminine, gender, etc.) shall have the meaning ascribed to them in this Sect ion. (a) 'applicant ' means a small or midsize business; (b) 'Administrator ' means the Administrator of the Guam Economic Development Authority; (c) 'eligible government project ' means a project that will affect one or more small or mid -size businesses as a result of construction work because the construction is anticipated to impair access for a minimum period of one month; (d) 'project ' means any improvement or alteration to real property, including demolition work to clear a site; (e) 'government ' means the government of Guam or

ss for a minimum period of one month; (d) 'project ' means any improvement or alteration to real property, including demolition work to clear a site; (e) 'government ' means the government of Guam or its instrumentality; COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 19 (f) 'small business ' means a business that generates gross profit less than or equal to Two Hundred Thousand Dollars ($200,000) on an annual basis, and is located in an area that is adjacent to an eligible government project; (g) 'mid-size business ' means a business that generates gross profit less than or equal to One Million Dollars ($1,000,000) and gross sales less than or equal to Two Million Dollars ($2,000,000) on an annual basis, and is located in an area that is adjacent to an eligible govern ment project; and (h) 'Program ' means the Government of Guam Mitigation Program for Business Interruption. § 50303 . Administration. The following provisions shall govern the administration of this entire Chapter. (a) Administrator. The Administrator of the Guam Economic Development Authority of the Government of Guam (herein known as the Administrator) shall have

ern the administration of this entire Chapter. (a) Administrator. The Administrator of the Guam Economic Development Authority of the Government of Guam (herein known as the Administrator) shall have the following duties, powers, and authority: (1) Establish procedures for receiving, responding to, and approval of applications to the Program, which shall be submitted to the Speaker of I Liheslaturan Guåhan within thirty (30) days of enactment. The Administrator shall notify each applicant, in writing, of the outcome of the application no later than fifteen (15) days after a completed application package is received. If an applicant to the Program is denied, the Administrator shall provide no later than three (3) days after the decision, a written explanation on the basis of the denial. An applicant denied by the Administrator may appeal the decision pursuant to § 50308 of this Article. (2) Establish procedures for the periodic assessment of the Program which shall be transmitted to the Speaker of I Liheslaturan Guåhan sixty (60) days after the close of the fiscal year. The assessment, at a minimum, shall include the number of applicants to the Program, the names of Program

d to the Speaker of I Liheslaturan Guåhan sixty (60) days after the close of the fiscal year. The assessment, at a minimum, shall include the number of applicants to the Program, the names of Program recipients, funds distributed for the year, the current balance of the Program, and Program analysis on its legislative intent. (3) Publish on the Guam Economic Development Authority website, sixty (60) days after the close of the fiscal year, the number of applicants to the Program, the names of Program recipients, the number of Program recipients, funds distributed for the year, the current balance of the Program and Program analysis on its legislative intent. (4) Establish criteria for the review and approval of Program applications consistent with this Article and its intent. (5) Promote and publish on the Guam Economic Development Authority website information regarding the Program, its requirements, and benefits to small and mid -size business owners. § 50304 . Eligibility. To be eligible for Program benefits an applicant must meet the eligibility criteria as stipulated below. Program applicants shall: (a) be bona fide residents of Guam and a United States citizen, or a

To be eligible for Program benefits an applicant must meet the eligibility criteria as stipulated below. Program applicants shall: (a) be bona fide residents of Guam and a United States citizen, or a permanent resident alien; (b) not have any outstanding taxes due to the Department of Revenue and Taxation and/or any outstanding debts at the Guam Memorial Hospital Authority which are not subject to an approved and current payment plan prior to the commencement of the eligible projec t as defined in § 50302 (c); (c) possess a valid business license; COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 20 (d) be current with all reporting of taxes to the Department of Revenue and Taxation; and (e) not be required to submit two (2) bank denials to qualify for programs stipulated in §§ 50306 and 50307. § 50305 . Applications. An applicant shall prepare and submit to the Administrator a written proposal detailing strategies on how the applicant will implement the funds received to ensure the viability of the business. Specific requirements for §§ 50304 and 50305 are enumerated in §§ 50306 and 50307 of this Article.

gies on how the applicant will implement the funds received to ensure the viability of the business. Specific requirements for §§ 50304 and 50305 are enumerated in §§ 50306 and 50307 of this Article. Applicants receiving funds through §§ 50306 and 50307 of this Article shall be required to seek technical assistance through the University of Guam Small Business Development Center (SBDC), or other similar organizatio ns approved by the Guam Economic Development Authority. § 50306 . Application for Program Grants. Applicants who are owners of small businesses shall be eligible for a Twelve Thousand Dollar ($12,000) grant from the Guam Economic Development Authority. The grant shall have the following limitations: (a) the grant shall be used to subsidize general operating expenses and provide working capital to small businesses, including, but not limited to, the payment of rent, employee salaries and benefits, supplies, and utilities; (b) the grant is non -renewable; and (c) the grant will be distributed in three (3) equal payments on the 10th of each month over three (3) months. Upon expiration of the grant, the grant recipients have the option of applying for a loan pursuant to §

ill be distributed in three (3) equal payments on the 10th of each month over three (3) months. Upon expiration of the grant, the grant recipients have the option of applying for a loan pursuant to § 50307. No additional documents need to be submitted by grant recipients to receive the Program loans. § 50307 . Application for Program Loans. Applicants who are owners of mid -size businesses shall be eligible for a loan of up to One Hundred Thousand Dollars ($100,000) from the Guam Economic Development Authority. The loan shall have the following limitations: (a) the loan shall be used to subsidize general operating expenses, including, but not limited to, the payment of rent, employee salaries and benefits, supplies, utilities and other necessary expenses for implementation of business recovery plan, such as reloc ation expenses and diversification of products and services; (b) the loan shall be payable in a period not to exceed ten (10) years; (c) the interest rate on the loan shall be based on the U.S. Treasury Index Rate plus up to four percent (4%); (d) interest only payments shall be allowed for the duration of the construction period and six (6) months after the completion of

based on the U.S. Treasury Index Rate plus up to four percent (4%); (d) interest only payments shall be allowed for the duration of the construction period and six (6) months after the completion of the project; and (e) the loan is non -renewable. § 50308 . Appeal. An applicant may appeal a denial within thirty (30) days of receipt of the written denial notice. The applicant shall submit to the Guam Economic Development Authority Board appropriate documentation disputing the basis of the denial. The Board shall render a decision within five (5) days after receipt of an appeal. The decision of the Board shall be final. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 21 § 50309 . Funding. The funding sources of the Program shall come from the following sources: (a) The Guam Economic Development Authority may obtain business interruption insurance policy coverage of up to Two Million Dollars ($2,000,000) for the purpose of distributing grant benefits pursuant to § 50306. Payment of the annual insurance premiums for the policy coverage shall be taken from the bond origination fees generated by GEDA; (b) The Guam Economic Development

grant benefits pursuant to § 50306. Payment of the annual insurance premiums for the policy coverage shall be taken from the bond origination fees generated by GEDA; (b) The Guam Economic Development Authority shall make available from the Guam Economic Development Fund Act (GEDFA) no less than Five Hundred Thousand Dollars ($500,000) and up to One Million Dollars ($1,000,000), which shall provide the funding source for th e loans granted pursuant to § 50307; and (c) The sum of Four Hundred Thousand Dollars ($400,000) is appropriated from the operating fund balance of the Guam Economic Development Authority for the grant program pursuant to 12 G.C.A. § 50306. (d) DPW shall provide as part of its planning and procurement of road construction, funding for economic mitigation and business interruption. § 50310 . Fund Distribution. In distributing funds, the Administrator shall consider the types of businesses affected by the eligible government project and shall balance funding between the number of eligible applicants and the funds available in this Article. § 50311 . Same. The Board shall have the authority to accept applications and award grants and loans for businesses affected

the number of eligible applicants and the funds available in this Article. § 50311 . Same. The Board shall have the authority to accept applications and award grants and loans for businesses affected by ongoing projects prior to the submission and adoption of the requirements of 12 GCA § 50303 (a)(1) and (4). ARTICLE 4 GUAM FILM OFFICE SOURCE: Article 4 added by P.L. 31 -159:1 (Jan. 4, 2012), effective 180 days after date of enactment pursuant to § 50412 of this article. Repealed by P.L. 35 -048:1 (Nov. 12, 2019) and added to Title 12, Chapter 3, Article 2. ARTICLE 5 ÅKTON MANHIHITA YAN MANAFA’MAMAOLEK GUAM INTRAREGIONAL COMMERCE COMMISSION ACT SOURCE: Added by P.L. 35 -131:1 (Dec. 29, 2020). § 50501. Title. § 50502. Legislative Findings and Intent. § 50503. Establishment of the Guam Intraregional Commerce Commission. § 50504. Composition. § 50505. Advisory, Non -Voting Members. § 50506. Governance. § 50507. Duties and Purposes. § 50508. Support Services. § 50509. Expert Assistance. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 22 § 50510. Quarterly Report. § 50501. Title.

. § 50508. Support Services. § 50509. Expert Assistance. COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 22 § 50510. Quarterly Report. § 50501. Title. This Article shall be cited as the Åkton Manhihita yan Manafa ’mamaolek , also known as the Guam Intraregional Commerce Commission Act. § 50502. Legislative Findings and Intent. (a) I Liheslatura n Guåhan finds that Guam has a lengthy history of reciprocal intraregional relationships. These relationships have been part of the traditional methodology for surviving and thriving for peoples within the Mariana Islands, Southeast Asia, and Micronesia. These rel ationships have expanded access to resources; built up traditional economies; disseminated knowledge, skills, and traditions; and ensured survival in the face of a range of natural and other challenges that are a part of living within our region. (b) Though our regional ties have changed over the centuries, they are still with us. At different times we have been part of the same colonial administration or national families, marine and terrestrial species migrate between our borders, food and goods are exchanged, expertise is shared,

ferent times we have been part of the same colonial administration or national families, marine and terrestrial species migrate between our borders, food and goods are exchanged, expertise is shared, and we lend helping hands when confronted with typhoons and other challenges that sweep through our region. (c) There are many examples of intraregional activities that currently exist. Guam serves as an economic hub and storehouse for the region in many ways. Various types of agricultural products are imported from Luta (Rota), as are fish from Palau, pepper and sakau powder from Pohnpei, and other foodstuffs from throughout the region. Environmentally -friendly crafted products are brought here from Yap, Kosrae, the Marshall Islands, and elsewhere in the region. Each area and its population have specific dynamics and characteristics that potentially serve as both resources and markets for goods. (d) It is, therefore, the intent of I Liheslatura n Guåhan to establish the Guam Intraregional Commerce Commission to build on this lengthy, beneficial tradition and the region’s wide range of resources and needs as a means to strengthen regional resiliency and rebuild and re -envision our

nal Commerce Commission to build on this lengthy, beneficial tradition and the region’s wide range of resources and needs as a means to strengthen regional resiliency and rebuild and re -envision our economy in the face of t he current global pandemic era. Such efforts would also have the potential for additional benefits such as uplifting the entire region’s economies, strengthening our food security, enhancing zero -waste e fforts, and improving aspects of our health care. Additionally, there are the beginnings of a manufacturing base in the outer islands based on environmentally -friendly products while here on Guam, similar initiatives to create a green economy are likewise developing. 2024 NOTE: Subsection designations added pursuant to the authority of 1 GCA § 1606. § 50503. Establishment of the Guam Intraregional Commerce Commission. There is hereby established within the Guam Economic Development Authority (GEDA) the Guam Intraregional Commerce Commission (Commission), which shall be comprised of seven (7) members, not subject to the consent of I Liheslatura , whose membership shall be selected pursuant to § 50504 of this Article.

Commerce Commission (Commission), which shall be comprised of seven (7) members, not subject to the consent of I Liheslatura , whose membership shall be selected pursuant to § 50504 of this Article. 2024 NOTE: Reference to the 'Legislature ' replaced with I Liheslatura pursuant to 2 GCA § 1101. § 50504. Composition. The composition of the Commission shall be as follows: (a) the Director of the Guam Economic Development Authority, or his or her designee, shall serve as the Chairperson of the Commission; (b) I Maga’håga/Maga’låh i’s Chief Advisor for Economic Development, or his or her designee, shall serve as Vice Chairperson of the Commission; COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 23 (c) the General Manager of the Port Authority of Guam, or his or her designee, shall serve as a member; (d) one (1) member shall be an economist or someone within a similarly relevant field of expertise from the School of Business and Public Administration at the University of Guam (UOG) recommended by the President of UOG and appointed by I Maga ’håga /Maga’låh i; (e) one (1) member shall be recommended by the Chairperson of the Legislative

nistration at the University of Guam (UOG) recommended by the President of UOG and appointed by I Maga ’håga /Maga’låh i; (e) one (1) member shall be recommended by the Chairperson of the Legislative Committee with oversight of Regional Affairs, or its successor, from a regional community non -profit or non - governmental organization and appointed by I Maga ’håga /Maga’låh i; (f) one (1) member shall be appointed by I Maga ’håga /Maga’låh i from the community at large; and (g) one (1) member shall be recommended by the Speaker of I Liheslaturan Guåhan from the community at large and appointed by I Maga ’håga /Maga’låh i. 2024 NOTE: Reference to the 'Governor' replaced with I Maga’håga/Maga’låhi pursuant to 5 GCA § 1510. § 50505. Advisory, Non -Voting Members. The Commission, by majority vote of its members, may invite additional public and private sector members to serve on a voluntary basis without compensation as advisers in the Commission’s subcommittees, and may prescribe special procedures for their partic ipation; provided, that no such advisory members may vote at any meetings of the Commission. § 50506. Governance.

the Commission’s subcommittees, and may prescribe special procedures for their partic ipation; provided, that no such advisory members may vote at any meetings of the Commission. § 50506. Governance. (a) Appointed members of the Commission shall serve a term of three (3) years, commencing with the date of appointment and until successors are appointed and qualified. The Chairperson shall preside at all meetings. The Vice Chairperson shall succeed to the du ties of the Chairperson in the absence or inability of the Chairperson. From among its members, the Commission may select a secretary and any other officers, which it may deem necessary, to serve on an annual basis. (b) Members shall meet regularly, at least once a month, on a day and time that the Commission determines. The Chairperson shall be counted for a quorum and shall vote in all instances, except for those in which a conflict of interest may exist. Four (4) membe rs shall constitute a quorum, and four (4) affirmative votes shall be required for the transaction of business. (c) The Commission may form subcommittees from among its membership as it deems necessary in order to carry out projects, research, and other

votes shall be required for the transaction of business. (c) The Commission may form subcommittees from among its membership as it deems necessary in order to carry out projects, research, and other activities outside of the Commission’s meetings. § 50507. Duties and Purposes. (a) The Commission shall work collaboratively to advance or develop regional economic initiatives and opportunities that benefit Guam with an emphasis on developing economic initiatives tied to a green economy, zero -waste, food security and sovereignty, and th e expansion of healthcare in the region, and collect relevant data to provide for informed decision -making, including, but not limited to: (1) serving as a think -tank for Guam to research, analyze, and promote mutually -beneficial regional economic initiatives; (2) collecting relevant data on Guam and throughout the region as needed for informed decision - making regarding regional economic development; (3) identifying and recommending types of data for the government of Guam to collect to better inform and guide regional economic development for Guam (e.g., agricultural import data for products intended for resale that enter Guam from the region

or the government of Guam to collect to better inform and guide regional economic development for Guam (e.g., agricultural import data for products intended for resale that enter Guam from the region by country, territory, and subdivision therein); COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 24 (4) assessing available resources throughout the region; (5) identifying various economic and other relevant private and governmental initiatives throughout the region; (6) developing relationships that have the potential to foster mutually -beneficial regional economic and commerce initiatives; (7) identifying challenges to the establishment of mutually -beneficial regional economic and commerce initiatives; and (8) recommending policies and programs to I Liheslatura and I Maga ’håga /Maga’låh i which address the potential of and challenges to intraregional commerce meant to strengthen regional resiliency by, but not limited to, providing an oral presentation to I Liheslatura and I Maga ’håga /Maga’låh i on the progress of the Commission and its recommendations on a quarterly basis. § 50508. Support Services.

not limited to, providing an oral presentation to I Liheslatura and I Maga ’håga /Maga’låh i on the progress of the Commission and its recommendations on a quarterly basis. § 50508. Support Services. The Guam Economic Development Authority shall support the administrative needs of the Commission. The Commission is hereby authorized to use, and the Authority is hereby directed to make available, personnel and logistical assistance as the Commission may require in carrying out its functions. § 50509. Expert Assistance. (a) The Bureau of Statistics and Plans, the Guam Customs and Quarantine Agency, and the Guam Department of Labor shall provide expert assistance to the Commission, as is feasible, relative to public planning, and import, export, wage, and employment trends and data. (b) The Guam Department of Agriculture shall provide expert assistance to the Commission, as is feasible, relative to invasive species concerns. 2024 NOTE: Subsection designations added pursuant to the authority of 1 GCA § 1606. § 50510. Quarterly Report. The Commission shall provide a quarterly report to I Liheslatura and I Maga ’håga /Maga’låh i on new policies or initiatives being developed by the

thority of 1 GCA § 1606. § 50510. Quarterly Report. The Commission shall provide a quarterly report to I Liheslatura and I Maga ’håga /Maga’låh i on new policies or initiatives being developed by the Commission for such information to be shared with pertinent intraregional councils, including, but not limited to, the Association of Pacific Island Legislatures and the Micronesian Chief Executives Su mmit. ARTICLE 6 TRANSSHIPMENT TASK FORCE SOURCE: Article added as §§ 50501 -50504 by P.L. 36 -023:2 (May 12, 2021), renumbered by the Compiler pursuant to the authority of 1 GCA § 1606. § 50601. Title. § 50602. Composition. § 50603. Responsibilities and Duties. § 50604. Economic Diversification Plan. § 50601. Title. This Article shall be known and may be cited as the 'Transshipment Task Force Act.' COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 25 § 50602. Composition. (a) The Transshipment Task Force shall be composed of: (1) the Administrator of the Guam Economic Development Authority or his/her designee; (2) the General Manager of the J.D.

§ 50602. Composition. (a) The Transshipment Task Force shall be composed of: (1) the Administrator of the Guam Economic Development Authority or his/her designee; (2) the General Manager of the J.D. Leon Guerrero Port Authority of Guam or his/her designee; (3) the Executive Manager of the Antonio B. Won Pat International Airport Authority, Guam or his/her designee; (4) the Director of the Guam Customs and Quarantine Agency or his/her designee; (5) the Director of the Department of Land Management or his/her designee; (6) I Maga ’hågan /Maga’låh en Guåhan or his/her designee; (7) the Speaker of I Liheslaturan Gu åhan or his/her designee; (8) the President of the Guam Chamber of Commerce or his/her designee, who shall serve as an ex-officio non-voting member; (9) the President of the Guam Women’s Chamber of Commerce or her designee, who shall serve as an ex-officio non-voting member; (10) the President of the Chinese Chamber of Commerce of Guam or his/her designee, who shall serve as an ex-officio non-voting member; (11) the President of the Filipino Community of Guam or his/her designee, who shall serve as an ex-officio non-voting member; (12) the President of the Korean Chamber

an ex-officio non-voting member; (11) the President of the Filipino Community of Guam or his/her designee, who shall serve as an ex-officio non-voting member; (12) the President of the Korean Chamber of Commerce of Guam or his/her designee, who shall serve as an ex-officio non-voting member; (13) the President of the Guam Contractors Association or his/her designee, who shall serve as an ex-officio non-voting member; (14) the Director of the Bureau of Statistics and Plans or his/her designee; (15) the President of the University of Guam or his/her designee; and (16) the Director of the Department of Agriculture or his/her designee. (b) A presiding officer from among the Transshipment Task Force members shall be elected by the members of the Task Force. The members of the Transshipment Task Force shall serve without compensation and shall meet at least once every month. NOTE: Subsection designations added pursuant to authority granted by 1 GCA § 1606. 2022 NOTE: Reference corrected to 'Antonio B. Won Pat International Airport Authority, Guam' pursuant to 12 GCA § 1102(b). § 50603. Responsibilities and Duties.

to authority granted by 1 GCA § 1606. 2022 NOTE: Reference corrected to 'Antonio B. Won Pat International Airport Authority, Guam' pursuant to 12 GCA § 1102(b). § 50603. Responsibilities and Duties. (a) The Transshipment Task Force shall meet at the call of the presiding officer and make recommendations concerning transshipment on Guam. (b) In making recommendations, the Transshipment Task Force shall: (1) contact regional shipping partners, manufacturers, the U.S. Department of Homeland Security, the U.S. Customs and Border Protection, and any agencies within the United States government pertinent to transshipment; COL 2024-12-0512 GCA AUTONOMOUS AGENCIES CH. 50 GUAM ECONOMIC DEVELOPMENT AND COMMERCE AUTHORITY 26 (2) conduct a feasibility study and provide recommendations involving local tax policy, workforce development, and incentive programs promoting transshipment on Guam; (3) receive reports and testimony from individuals, government of Guam agencies, and any other public and private organizations; and (4) submit an Economic Diversification Plan with its recommendations to I Maga ’håga n/Maga’låh en Guåhan and I Liheslaturan Guåhan within one (1) year of the enactment of

private organizations; and (4) submit an Economic Diversification Plan with its recommendations to I Maga ’håga n/Maga’låh en Guåhan and I Liheslaturan Guåhan within one (1) year of the enactment of this Article. NOTE: Subsection designations added pursuant to authority granted by 1 GCA § 1606. § 50604. Economic Diversification Plan. The Economic Diversification Plan shall include a review of pertinent federal laws and regulations; a review of local laws and regulations with suggested changes; a consideration of land requirements, constraints, and potential zoning issues; and specify a ny and all federal grants available to the Transshipment Task Force to implement new industries. --------- - COL 2024-12-05