Sec. 8. The Win Tin Burma-American Enterprise Fund
1,442 words·~7 min read·
/bill/114/s/3313/is/section-8A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purposes of this section are— to promote the private sector in Burma, including small businesses, the agricultural sector, and joint ventures with United States and Burmese participants; to promote policies and practices conducive to the private sector in Burma through loans, grants, equity investments, feasibility studies, technical assistance, training, insurance, guarantees, and other measures; and to support and promote initiatives that— meet internationally recognized standards for labor (as established by the International Labour Organization), the environment, transparency, corruption (as set forth in the United Nations Convention against Corruption), and human rights; do not harm or displace local communities; and encourage policies and practices conducive to sustainable, broad-based rural development and economic opportunity for Burma’s smallholder farmers, including women and other marginalized groups, and rural small businesses.
After consultation with the leadership of each House of Congress, the President may designate a private, nonprofit organization (to be known as the Win Tin Burma-American Enterprise Fund ) that the President determines has been established for the purposes specified in subsection
(a)to receive financial assistance and support made available under this Act. No military-owned enterprises shall be eligible for participation in programs or activities of the Win Tin Burma-American Enterprise Fund. The Win Tin Burma-American Enterprise Fund shall be governed by a Board of Directors, which shall be comprised of not less than 6 private citizens of the United States or Burma appointed by the President, of which not more than 2 may be citizens of Burma. Members of the Board of Directors shall be selected from among people who have experience, including experience that is similar to the experience of individuals who previously served on the Board of Directors of a successful Enterprise Fund established by the United States Government on or after January 1, 1990, in one or more of the following areas: A successful business career in private equity, banking, or finance. A demonstrated commitment to sustainable rural development. Engagement in supporting human rights, democracy, and economic reform in Burma. Upon the recommendation of the Board of Directors, the President may appoint up to 2 additional members to the Board (in addition to the Directors appointed pursuant to paragraph (1)), of which not more than 1 may be a non-citizen of the United States. The Assistant Secretary of State for Democracy, Human Rights, and Labor shall serve as an ex officio member of the Board. Notwithstanding any other provision of law, amounts appropriated to the President pursuant to subsection
(i)shall be granted to the Win Tin Burma-American Enterprise Fund by the United States Agency for International Development to enable the Fund to carry out the purposes specified in subsection
(a)and for the administrative expenses of the Fund. Grants awarded under this section may only be used for programs and projects that support the purposes set forth in subsection (a). Grants may not be awarded to the Win Tin Burma-American Enterprise Fund under this section unless the Fund agrees to comply with the requirements under this section. The grant agreement between the United States Agency for International Development and the Win Tin Burma-American Enterprise Fund shall state that the Fund shall end its reinvestment cycle not later than December 31, 2025, unless the Administrator of the United States Agency for International Development determines, after consultation with the appropriate congressional committees, that the Fund should be extended. The grant agreement between the United States Agency for International Development and the Burma-American Enterprise Fund shall state that the Fund shall comply with procedures specified by the Secretary of State to ensure that grant funds are not provided by the Fund to or through— any individual, private or government entity, or educational institution that advocates, plans, sponsors, engages in, or has engaged in, money laundering or terrorist activity; any private entity or educational institution if a principal officer of its governing board is— involved in or advocating money laundering or terrorist activity; or a member of a designated foreign terrorist organization; or any individual or entity that is responsible for, or complicit in ordering, directing, or participating in acts of significant corruption or facilitating or transferring the proceeds of corruption to foreign jurisdictions. All assets of the Win Tin Burma-American Enterprise Fund on the date on which the Fund is dissolved shall be returned to the Treasury of the United States for the purpose of deficit reduction. Not later than 15 days before designating an organization to operate as the Burma-American Enterprise Fund pursuant to subsection (b), the President shall provide the information described in paragraph
(2)to the Chairman and Ranking Member of the appropriate congressional committees. The information described in this paragraph is— the identity of the organization to be designated to operate as the Win Tin Burma-American Enterprise Fund pursuant to subsection (b); the names and qualifications of the individuals who will comprise the initial Board of Directors; the procedures referred to in subsection (e)(3)(C) that will apply to the Win Tin Burma-American Enterprise Fund for purposes of curtailing money laundering and terrorist financing activities; and the size of the financial grant that shall be made available to the Win Tin Burma-American Enterprise Fund. Not later than one year after the date of the enactment of this Act, and annually thereafter until the Fund is dissolved, the Fund shall submit to the appropriate congressional committees a report that details the administrative expenses of the Fund. Not later than 3 years after the date of the enactment of this Act, and every 3 years thereafter until the Fund is dissolved, the Comptroller General of the United States shall submit a report to the appropriate congressional committees that assesses the activities of the Fund in— achieving the stated goals of promoting private sector investment and employment in Burma, including encouraging policies and practices conducive to sustainable, broad-based rural development and economic opportunity for Burma’s smallholder farmers, including women and other marginalized groups, and rural small businesses; and identifying those institutional or regulatory constraints that inhibit a more effective application of Fund resources. Subsections (d)(5), (g), (h), (i), (k), (l), (m), (n), (o), and
(p)of section 201 of the Support for East European Democracy
(SEED)Act of 1989 ( 22 U.S.C. 5421 ) shall apply with respect to the Win Tin Burma-American Enterprise Fund in the same manner as such provisions apply to Enterprise Funds designated pursuant to subsection
(d)of such section. Returns on investments of the Win Tin Burma-American Enterprise Fund and other payments to the Fund may be reinvested in projects carried out by the Fund without further appropriation by Congress. To the maximum extent practicable, the Board of Directors of the Win Tin Burma-American Enterprise Fund should adopt the best practices and procedures used by Enterprise Funds, including those for which funding has been made available pursuant to section 201 of the Support for East European Democracy
(SEED)Act of 1989 ( 22 U.S.C. 5421 ). In implementing this Act, the President shall ensure that the Articles of Incorporation of the Win Tin Burma-American Enterprise Fund (including provisions specifying the responsibilities of the Board of Directors of the Fund), the terms of United States Government grant agreements with the Fund, and United States Government oversight of the Fund are, to the maximum extent practicable, consistent with the Articles of Incorporation of, the terms of grant agreements with, and the oversight of the Enterprise Funds designated pursuant to section 201 of the Support for East European Democracy
(SEED)Act of 1989 ( 22 U.S.C. 5421 ) and comparable provisions of law. There are authorized to be appropriated to the President such sums as may be necessary to provide funding for grants to the Burma-American Enterprise Fund, which shall be used for the purposes specified in subsection (a). Amounts appropriated pursuant to paragraph
(1)shall remain available until expended. In this section: The term appropriate congressional committees means— the Committee on Foreign Relations and the Committee on Appropriations of the Senate; and the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives. The term corrupt actor means— any foreign person or entity that is a government official or government entity responsible for, or complicit in— ordering or otherwise directing acts of significant corruption; or facilitating or transferring the proceeds of corruption to foreign jurisdictions; or any entity, in which a person or entity described in subparagraph
(A)has a significant stake, which is complicit in— directing or participating in significant corruption; or facilitating or transferring the proceeds of corruption to foreign jurisdictions. The term corruption means the extent to which public power is exercised for private gain, including by bribery, nepotism, fraud, or embezzlement.
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 8
The Win Tin Burma-American Enterprise Fund
Cites 1Cited by 0 across 0 sources