HOUSE APPROVES BILL TO REGULATE CORPORATE SPONSORS

The House of Representatives has approved in final reading the administration bill regulating the ability of corporations to sponsor aliens, amending the current local statute.

According to the proposed bill, the current law under ASCA 41.0408 is vague and “provides minimal direction on the sponsorship of aliens by corporations” and this has led to the sponsorship of aliens by corporations in a manner that is inconsistent with the revised constitution of American Samoa. The territory would benefit from specific language to more effectively control and limit the sponsorship of aliens by corporations, the bill says.

Amendments to the bill are as follows:

Any corporation authorized by statute to do business in American Samoa, and certified by the Attorney General to sponsor aliens is pursuant to the following general requirements: an established record of financial responsibility; proof of timely payment of local taxes, fees and other government assessments; in the case of a new corporation, proof of an established business plan for operations in American Samoa; and good corporate citizenship.

“These general requirements may be expanded or elaborated upon from time to time through the promulgation of regulations by the Attorney General.”

Revisions would also include that “No corporation may sponsor an alien who has any control or interest in the sponsoring corporation. Such persons who are deemed to have control or interest in a corporation shall include but not be limited to alien incorporators, investors, shareholders, directors and officers of any corporation incorporated under the laws of American Samoa.”

The bill also deletes the part which says “Sponsorship of persons may be transferred from one employer to another, provided the board is satisfied of the need, and of the lack of permanent residents for such employment.” The bill now goes to the Senate for their approval and if approved, it will then go to the Governor for his signature.

BOND BILL BEFORE THE LAWMAKERS

The bill to better facilitate the sale of bonds by the American Samoa Economic Development Authority was introduced in both the Senate and House late last week.

The measure says that amendments were made in the 33rd legislature which originally created ASEDA to modernize and update the law after there were developments in the way the United States financial markets managed risk in the wake of the Global Financial Crisis, and further amendment is necessary to bring greater comfort to potential investors of ASEDA bonds.

According to the administration bill, the proposed amendments provide investors further assurances that he government will not interrupt any pledged revenue streams supporting bond payments, but should that happen, then adequate provision shall be made by law for the protection of the holders of the bonds.

Further the bill says that because of the urgency in ASEDA moving towards with issuing bonds in the month of April it is necessary for this act have an immediate effective date. The measure says that this will create another section which would indicate the contract with bondholders.

“The American Samoa Government pledges to and agrees with the holders of any bonds, including refunding bonds, issued under the provision of this chapter, that the ASG will not alter, impair, or limit the revenues pledged toward the repayment of the bonds until the bonds, together with applicable interest, are fully paid and discharged.”

AUA REP ASKS FOR FONO SESSIONS TO BE AIRED ON TV AND RADIO

Faimealelei Anthony Allen says there have been many requests by members of the public, especially the elderly and disabled population, to have Fono sessions aired on TV or the radio stations, as they want to hear what is going on in the Fono.

He said it’s his understanding this was done in the past and it’s something the Fono should look at reviving. House Speaker Savali Talavou Ale responded that it’s something that he will look into, as it’s not a new request but it’s worth looking into for the elderly population.

He further stated that there is also a need for funding allocated for these airings, unless the radio stations will do it for free as a community service.