Community adjustment and investment program

The President shall— The President shall establish an advisory committee to be known as the Community Adjustment and Investment Program Advisory Committee (in this section referred to as the “Advisory Committee”) in accordance with the provisions of chapter 10 of title 5. The Advisory Committee shall consist of 9 members of the public, appointed by the President, who, collectively, represent— Each of the categories described in clauses (i) through (iv) of subparagraph (A) shall be represented by no fewer than 1 and no more than 3 members of the Advisory Committee. It shall be the function of the Advisory Committee— Each member of the Advisory Committee shall serve at the pleasure of the President. The President shall appoint a chairperson from among the members of the Advisory Committee. The Advisory Committee shall meet at least annually and at such other times as requested by the President or the chairperson. A majority of the members of the Advisory Committee shall constitute a quorum. The members of the Advisory Committee may receive reimbursement for travel, per diem, and other necessary expenses incurred in the performance of their duties, in accordance with chapter 10 of title 5. The Advisory Committee may utilize the facilities and services of employees of any Federal agency without cost to the Advisory Committee, and any such agency is authorized to provide services as requested by the Committee. The President shall appoint an ombudsman to provide the public with an opportunity to participate in the carrying out of the community adjustment and investment program. It shall be the function of the ombudsman— There are authorized to be appropriated to the President, or such agency as the President may designate, $25,000 for fiscal year 1995 and for each fiscal year thereafter, for the costs of the ombudsman. The President shall submit to the appropriate congressional committees an annual report on the community adjustment and investment program (if any) that is carried out pursuant to this section. Each report shall state the amount of the loans made or guaranteed during the 12-month period ending on the day before the date of the report.