1. Short title This Act may be cited as the Securing the Border and Making Drug Cartels Pay for it Act . 2. Purpose The purpose of this Act is to authorize the use of illicit drug trafficking proceeds to pay for physical barriers, tactical infrastructure, and technology in the vicinity of the United States border, which will— (1) achieve situational awareness and operational control of the border; (2) increase the interdiction of illicit drugs entering the United States; and (3) reduce bulk cash smuggling and trade-based money laundering along the border. 3. Secure America Financing Corporation (a) Establishment There is established, as a special purpose, public corporate entity, the Secure America Financing Corporation (referred to in this section as the Corporation ), which shall operate as an independent instrumentality of the Federal Government. (b) Board (1) Composition The Corporation shall be overseen by a Board, consisting of the Secretary of Homeland Security and the Secretary of the Treasury, or their respective designees, as appointed by the President. (2) Terms Members of the Board shall serve, at the pleasure of the President, for 4-year terms, or until a successor is appointed by the President. Members of the Board may be appointed to 1 additional 4-year term. (3) Compensation Members of the Board shall serve without additional compensation. (4) Chairperson The Board shall annually elect a Chairperson from among its members. (5) Meetings The Board shall meet not less frequently than annually. (c) Purposes The purposes of the Corporation shall be— (1) to issue Secure America Bonds, in accordance with subsection (d); (2) to make the proceeds of such bonds available to Homeland Security Investigations of U.S. Immigration and Customs Enforcement and to U.S. Border Patrol to enhance technological capacity