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Code · BILL · 113th Congress · S. 2508 (Introduced in Senate) — To establish a comprehensive United States Government policy to assist countries in sub-Saharan Africa to improve acc... · Sec. 204

Sec. 204. Pilot program for expansion of eligible investors

203 words·~1 min read·/bill/113/s/2508/is/section-204·

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The Overseas Private Investment Corporation shall conduct a pilot program under which entities that are covered by section 238(c)(3) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2198(c)(3) ) and are substantially beneficially owned by United States citizens shall be considered eligible investors under section 238(c) of that Act for the sole purpose of receiving assistance from the Corporation for power projects in sub-Saharan Africa. Assistance provided by the Corporation for a power project in sub-Saharan Africa pursuant to subsection
(a)to an entity that is covered by section 238(c)(3) of the Foreign Assistance Act of 1961 (22 U.S.C. 2198(c)(3)) and is substantially beneficially owned by United States citizens shall not exceed the lesser of— the share of ownership in the entity of such United States citizens; or the percentage of the investment of the entity in the project. The pilot program under subsection
(a)shall terminate on the date that is 5 years after the date of the enactment of this Act. Notwithstanding subsection (c), any support provided before the date that is 5 years after the date of the enactment of this Act pursuant to the pilot program under subsection
(a)shall remain valid on and after that date.
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  • 22 USC 2198(c)(3)
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Sec. 204
Pilot program for expansion of eligible investors
Cite22 USC 2198(c)(3)
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