Tropical Forestry Initiative Act

[AI summary unavailable — showing source text] Tropical Forestry Initiative Act - Requires the Secretary of Agriculture to conduct a research program that focuses on methods to slow or reverse tropical deforestation. Directs the Secretary to enter into a memorandum of understanding with the Secretary of the Interior setting forth the methods by which the Secretary of the Interior will assist in accomplishing the purposes of this Act. Requires the President's proposed budget to the Congress to specifically identify funds to be spent on such research. Authorizes and directs the Secretary to administer an Institute of Tropical Forestry in Puerto Rico to: (1) conduct long-term research that includes the designation and management of units that protect tropical forests, the relationship between the atmosphere and such forests, sustainable economic development and regeneration and restoration of such forests, and the effects of deforestation on various environmental and economic factors; and (2) provide assistance that includes technology transfer from such research, the training of foreign researchers, and the promotion of research by other institutions. Authorizes and directs the Secretary to manage the Caribbean National Forest (a…