S. 2034 — A bill to authorize the International Boundary and Water Commission to accept funds for activities relating to wastewater treatment and flood control works, and for other purposes.

This section authorizes the U.S. Section of the International Boundary and Water Commission, United States and Mexico (Commission), to accept funds from federal or non-federal entities, including through grants or funding agreements, to study, design, construct, operate, or maintain wastewater treatment works, water conservation projects, flood control works, and related structures consistent with the Commission's functions. Funds accepted are deposited into the Commission's Treasury account and remain available until expended. It (1) limits Commission reimbursements or credits toward non-federal project cost shares to $5 million per fiscal year; (2) prohibits acceptance of funds from non-federal entities domiciled, headquartered, organized under the laws of, or principally located in a foreign country of concern (i.e., People's Republic of China, Democratic People's Republic of Korea, Russian Federation, or Islamic Republic of Iran, as defined in 42 U.S.C. 19237) or with any agreement with such a country; and (3) requires the Commission to submit an annual report to specified Senate and House committees describing funded activities and associated costs.