S 2463 115th Congress Senate International Affairs Business investment and capital Congressional oversight Economic development Executive agency funding and structure Financial services and investments Foreign aid and international relief Government corporations and government-sponsored enterprises Government information and archives Government lending and loan guarantees Overseas Private Investment Corporation (OPIC) Performance measurement Public-private cooperation Securities Trade agreements and negotiations U.S. Agency for International Development (USAID) U.S. and foreign investments

BUILD Act of 2018

Introduced: February 27, 2018 See on congress.gov

Everywhere this bill has been 6 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 27, 2018

Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.

Jun 27, 2018

Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.

Jun 26, 2018

Committee on Foreign Relations. Ordered to be reported with an amendment favorably.

May 10, 2018

Committee on Foreign Relations. Hearings held. Hearings printed: S.Hrg. 115-829.

Feb 27, 2018

Read twice and referred to the Committee on Foreign Relations.

Feb 27, 2018

Introduced in Senate

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Plain-English summary Congressional Research Service

Better Utilization of Investments Leading to Development Act of 2018 or the BUILD Act of 2018

This bill establishes the United States International Development Finance Corporation to facilitate the participation of private sector capital and skills in the economic development of countries with low- or lower-middle-income economies and countries transitioning from nonmarket to market economies in order to complement U.S. assistance and foreign policy objectives.

The corporation may: (1) make loans or loan guarantees, (2) as a minority investor acquire equity or financial interests in entities, (3) provide insurance or reinsurance to private sector entities and qualifying sovereign entities, (4) provide technical assistance, (5) administer special projects, (6) establish enterprise funds, (7) issue obligations, and (8) charge service fees.

The corporation shall terminate on September 30, 2038.

The corporation shall not provide assistance to: (1) a country whose government has repeatedly supported acts of international terrorism, or (2) a private sector entity that is engaged in monopolistic practices.

The bill prescribes transitional provisions, including transferring to the corporation the functions, personnel, assets, and liabilities of the Overseas Private Investment Corporation (which is subsequently terminated) and specified elements of the U.S. Agency for International Development.

What's happening now June 27, 2018

Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.

Related & companion bills 1

Bill text 2 versions