(Sec. 2) Requires the Secretary of the Treasury to report annually to specified congressional committees on the North American Development Bank.
(Sec. 3) Expresses the sense of Congress that water conservation projects are eligible for funding from the Bank under the Cooperation Agreement.
Expresses the sense of Congress that the Board of Directors of the Bank should support with financing: (1) qualified water conservation projects which can assist Texas irrigators and agricultural producers in the lower Rio Grande River Valley; (2) conservation as well as new water supply research and desalination projects in the border States of California, Arizona, New Mexico, and Texas; and (3) projects which address coastal and water and air pollution issues on both sides of the international boundary between the United States and Mexico, including along the Pacific Ocean and Gulf of Mexico shores of both countries.