Compact of Free Association Amendments Act of 2023

This bill approves new agreements that amend the Compact of Free Association between the United States and the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau. It incorporates related agreements including fiscal procedures and trust fund agreements that govern how U.S. funding is managed and distributed to these nations. The bill provides funding for 2024-2043 to support programs like healthcare, education, veterans' services, and economic development in the Freely Associated States. It establishes reporting requirements and oversight mechanisms for federal agencies implementing these agreements. The bill directly affects U.S. federal agencies, the Freely Associated States, and U.S. funding mechanisms for these Pacific Island nations.