This Act may be cited as the “American Cooperation with Our Neighbors Act”.

(a) In general.—Not later than 270 days after the date of the enactment of this Act, the Secretary of State, in coordination with the Administrator of the United States Agency for International Development, shall submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a strategy on efforts to strengthen subnational cooperation between the United States and Mexico for the purposes of—

(1) enhancing law enforcement cooperation and local, State, and Federal security forces cooperation at a subnational level for the purpose of curbing fentanyl trafficking and other synthetic opioids, including activities such as—

(A) bolstering technical assistance and coordination for law enforcement agencies and local, State, and Federal security forces;

(B) carrying out exchange programs for the purposes of professional development; and

(C) enhancing data sharing, as appropriate;

(2) bolstering subnational dialogue and capacity building between Federal and local governments, civil society, faith-based organizations, and business community leaders and integrating issues faced by local communities, including with respect to trafficking of fentanyl and other synthetic opioids; and

(3) strengthening capacity building and provide resources for border towns and organizations within those towns that attempt to meet the needs of communities.

(b) Update.—Not later than 2 years after the date of the submission of the strategy under subsection (a), the President shall submit to the congressional committees specified in subsection (a) an update containing an assessment of the implementation and effectiveness of the strategy, lessons learned from the past year with respect to the strategy, and planned changes to the strategy.

(c) Form.—The strategy under subsection (a), and the update under subsection (b), shall be submitted in unclassified form.

(d) Limitation on data sharing.—

(1) LIMITATION.—The Secretary of State may not carry out any project, program, or activity that implements the strategy under subsection (a) for the purpose specified in paragraph (1)(C) of such subsection until the Secretary submits to the appropriate congressional committees a notification regarding the data intended to be shared with foreign countries pursuant to such strategy.

(2) APPROPRIATE CONGRESSIONAL COMMITTEES.—In this subsection, the term “appropriate congressional committees” means—

(A) the Committee on the Judiciary, the Committee on Homeland Security, the Committee on Foreign Affairs, and the Permanent Select Committee on Intelligence of the House of Representatives; and

(B) the Committee on the Judiciary, the Committee on Homeland Security and Governmental Affairs, the Committee on Foreign Relations, and the Select Committee on Intelligence of the Senate.

(a) Review.—The Secretary of State, in consultation with the Secretary of Treasury, shall conduct a review to determine any steps, balancing costs and benefits, that the Secretaries could take to expand financial access to the member states of the Caribbean Community (CARICOM), including through a review of—

(1) sanctions enforcement laws and compliance standards;

(2) reporting requirements pertaining to narcotics trafficking and illicit finance thereof;

(3) possible expansion of embassies and consulates in the region; and

(4) programming or lack thereof pertaining to access to capital in the region.

(b) Report.—The Secretary shall submit to the appropriate congressional committees a report on the findings of the Secretary pertaining to the review under subsection (a).

(c) Appropriate congressional committees defined.—In this section, the term “appropriate congressional committees” means—

(1) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives; and

(2) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate.