HR 7570
116th Congress
House
International Affairs
Business investment and capital
Financial services and investments
Foreign aid and international relief
Government corporations and government-sponsored enterprises
Government lending and loan guarantees
Government trust funds
Public-private cooperation
Securities
U.S. and foreign investments
To amend the Better Utilization of Investments Leading to Development Act of 2018 to facilitate increased equity investments under that Act.
Introduced: July 9, 2020
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 9, 2020
Referred to the House Committee on Foreign Affairs.
Jul 9, 2020
Introduced in House
Plain-English summary
This bill modifies budget treatment for equity investments made by the U.S. International Development Finance Corporation.
Under current law, such equity investments are treated like grants for federal budgetary scoring, which requires the government to provide through appropriations the full amount that may be invested (i.e., dollar-for-dollar funding).
The bill instead deems such equity investments a federal credit program. As a result, such investments are scored based on an estimated repayment rate, and appropriation of the full investment amount is not required.
What's happening now
Referred to the House Committee on Foreign Affairs.
Committees of jurisdiction
1