Sec. 30215. Facilitation of increased equity investments under the Better Utilization of Investments Leading to Development Act of 2018
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/bill/117/hr/4521/eh/section-30215A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1421(c) of the Better Utilization of Investments Leading to Development Act of 2018 ( 22 U.S.C. 9621(c) ) is amended by adding at the end the following: Subject to subparagraphs
(B)and (C), support provided under paragraph
(1)with respect to a project shall be considered to be a Federal credit program that is subject to the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661 et seq. ) for purposes of applying the requirements of such Act to such support. For purposes of section 502(5) of the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661a(5) et seq.) the cost of support provided under paragraph
(1)with respect to a project shall be the net present value, at the time when funds are disbursed to provide the support, of the following estimated cash flows: The purchase price of the support. Dividends, redemptions, and other shareholder distributions during the term of the support. Proceeds received upon a sale, redemption, or other liquidation of the support. Adjustments for risk of estimated losses, if any. The estimated cash flows described in subclauses
(I)through
(IV)of clause
(i)shall include the effects of changes in terms resulting from the exercise of options included in the agreement to provide the support. When the estimated cost of support provided under paragraph
(1)with respect to a project made in a single fiscal year is reestimated in a subsequent year, the difference between the reestimated cost and the previous cost estimate shall be paid from the balances available in the Corporate Capital Account established under section 1434. . Section 1433 of the Better Utilization of Investments Leading to Development Act of 2018 ( 22 U.S.C. 9633 ) is amended by striking $60,000,000,000 and inserting $100,000,000,000 . Section 1434(b) of the Better Utilization of Investments Leading to Development Act of 2018 ( 22 U.S.C. 9634(b) ) is amended— in paragraph (5), by striking and at the end; by redesignating paragraph
(6)as paragraph (7); and by inserting after paragraph
(5)the following: receipts of reestimated costs received pursuant to section 1421(c); and . Not later than 180 days after the date of the enactment of this Act, the Chief Executive Officer of the United States International Development Finance Corporation shall submit to the appropriate congressional committees and the Committee on Appropriations of the House of Representatives and the Senate a report on— a plan to expand the Corporation’s financing to support United States national security and development priorities in critical regions; and the budgetary, staffing, and programmatic resources that would be required in order to carry out the plan required by this subsection.
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Sec. 30215
Facilitation of increased equity investments under the Better Utilization of Investments Leading to Development Act of 2018
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