Sec. 5. Establishment of enterprise fund for Jordan
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The President is authorized to establish and operate an enterprise fund to provide assistance to Jordan. The provisions contained in section 201 of the Support for East European Democracy
(SEED)Act of 1989 ( 22 U.S.C. 5421 ), excluding the provisions of subsections (a), (b), (c), (d)(3), (f), and
(j)of that section, shall be deemed to apply with respect to the Jordan Enterprise Fund and to funds made available to the enterprise fund in the same manner and to the same extent as such provisions apply with respect to enterprise funds established pursuant to such section or to funds made available to such established enterprise funds. Funds made available to the Jordan Enterprise Fund shall be expended at the minimum rate necessary to make timely payments for projects and activities. Not more than 3 percent of the funds made available to the Jordan Enterprise Fund may be obligated or expended for the administrative expenses of the enterprise fund. The Jordan Enterprise Fund shall be governed by a Board of Directors comprised of private citizens of the United States or Jordan, who— shall be appointed by the President, in consultation with the chair and ranking member of each of the appropriate congressional committees; and have pursued international business careers and have demonstrated expertise in international and emerging market investment activities. The majority of the members of the Board of Directors shall be United States citizens. Not later than 1 year after the date of the enactment of this Act, and annually thereafter until the Jordan Enterprise Fund terminates in accordance with subsection
(g), the Board of Directors shall— submit to the appropriate congressional committees a report detailing the administrative expenses of the enterprise fund; and publish, on an Internet website administered by the enterprise fund, each report submitted pursuant to subsection
(b)in accordance with section 201(p) of the Support for East European Democracy
(SEED)Act of 1989 ( 22 U.S.C. 5421(p) ). Any funds resulting from any liquidation, dissolution, or winding up of the Jordan Enterprise Fund, in whole or in part, shall be returned to the Treasury. The authority of the Jordan Enterprise Fund to provide assistance shall terminate on the earlier of— the date that is 7 years after the date of the first expenditure of amounts in accordance with subsection (c)(1) ; or the date on which the enterprise fund is liquidated in accordance with subsection
(f). In this section, the term appropriate congressional committees means— the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives; and the Committee on Foreign Relations and the Committee on Appropriations of the Senate.
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Sec. 5
Establishment of enterprise fund for Jordan
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