Page:United States Statutes at Large Volume 104 Part 4.djvu/926

 104 STAT. 3242 PUBLIC LAW 101-614—NOV. 16, 1990 Reports. 42 USC 7704 note. Reports. Intergovernmental relations. (e) DEFINITIONS.—For purposes of this section— (1) the term "domestic firm" means a business entity that is incorporated in the United States and that conducts business operations in the United States; and (2) the term "foreign firm" means a business entity not described in paragraph (2). CATASTROPHIC EARTHQUAKE IMPACT STUDIES SEC. 14. (a) STUDY OF INDIRECT ECONOMIC LOSSES.—Within 12 months after the date of enactment of this Act, the Director of the Federal Emergency Management Agency shall submit, to the Committee on Science, Space, and Technology, the Committee on Interior and Insular Affairs, and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, and to the Committee on Commerce, Science and Transportation and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report on the results of a study on the impact and repercussions of a catastrophic earthquake on local, regional, and national economies. The Director of the Federal Emergency Management Agency shall appoint, in consultation with the Department of the IVeasury, a panel of experts in relevant fields and activities to undertake such study. In particular, the study shall evaluate the repercussions and indirect economic impact of such an earthquake on— (1) financial markets; (2) the national banking system; (3) the insurance industry; and (4) the national energy distribution network; and shall include an estimate of the ability of current disaster assistance efforts and insurance coverage to allow recovery from the economic losses caused by a catastrophic earthquake. (b) STUDY ON IMPROVING EARTHQUAKE MITIGATION. —Within 12 months after the date of enactment of this Act, the Director of the Federal Emergency Management Agency shall submit, to the Committee on Science, Space, and Technology, the Committee on Interior and Insular Affairs, and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, and to the Committee on Commerce, Science, and Transportation and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report on the results of a study on the adequacy of preparation and response capabilities for reducing and recovering from losses caused by a catastrophic earthquake. The Director of the Federal Emergency Management Agency shall appoint, in consultation with the United States Geological Survey, the National Institute of Standards and Technology, and the National Science Foundation, a panel of experts in relevant fields and activities to undertake such study. The study required under subsection shall (1) identify impediments to the effective implementation of Federal, State, and local programs of earthquake hazard mitigation, including an analysis of the appropriate roles for Federal, State, and local governments and the private sector in preparing for and responding to the economic and social consequences of earthquakes; and (2) consider the effectiveness, and efficiencies of alternative ways for Federal, State, and local governments to reduce the

�