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Code · BILL · 117th Congress · S. 4112 (Introduced in Senate) — To address issues involving the economic statecraft of the United States, and for other purposes. · Sec. 202

Sec. 202. Office of Strategic Investments in United States International Development Finance Corporation

706 words·~3 min read·/bill/117/s/4112/is/section-202

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The BUILD Act of 2018 ( 22 U.S.C. 9601 et seq. ) is amended— in section 1413 ( 22 U.S.C. 9613 )— in subsection (a), by inserting a Strategic Investments Officer, after Development Officer, ; in subsection (g)(2)(F), by striking subsection
(i)and inserting subsection
(j); by redesignating subsections
(h)and
(i)as subsections
(i)and (j), respectively; by inserting after subsection
(g)the following new subsection: Subject to the approval of the Board, the Chief Executive Officer shall appoint a Strategic Investments Officer from among individuals with experience in international economic policy, who— shall report directly to the Board; and shall be removable only by a majority vote of the Board. The Strategic Investments Officer shall— coordinate efforts to develop the Corporation’s initiatives— to counter predatory state-directed investment and coercive economic practices of adversaries of the United States; and to preserve the sovereignty of partner countries; coordinate the Corporation's strategic investment policies and implementation efforts with the Department of State, the Export-Import Bank of the United States, the Trade and Development Agency, and other relevant United States Government departments and agencies, including by directly liaising with missions of the Department of State to ensure that departments, agencies, and missions have training, awareness, and access to the Corporation's tools with respect to strategic investment policy and projects; manage the responsibilities of the Corporation under section 1442(b)(5) and paragraphs (1)(C) and (3)(C) of section 1443(b); support the Chief Development Officer in coordinating and implementing the activities of the Corporation under section 1445; and be an ex officio member of the Development Advisory Council established under subsection (j), and attend each meeting of the Council. ; in subsection (i)(3)(C), as so redesignated, by striking subsection
(i)and inserting subsection
(j); and by adding at the end the following new subsection: There is established a Strategic Investments Advisory Council (in this subsection referred to as the Council ) to advise the Board on strategic investment objectives of the Corporation. Members of the Council shall be appointed by the Board, on the recommendation of the Chief Executive Officer and the Strategic Investment Officer, and shall be composed of not more than 9 members from the Department of State, the Department of Commerce, the Department of Defense, the Department of the Treasury, the Department of Energy, and the Office of Science and Technology Policy. The Board shall call upon members of the Council, either collectively or individually, to advise the Board regarding the extent to which the Corporation is meeting the strategic investment goals of the United States and any suggestions for improvements with respect to such goals, including opportunities in countries and project development and implementation challenges and opportunities. The Council shall not be subject to the Federal Advisory Committee Act (5 U.S.C. App.). ; in section 1442 ( 22 U.S.C. 9652 )— in subsection (b)— in paragraph (3), by striking ; and and inserting a semicolon; in paragraph (4)(B), by striking the period at the end and inserting ; and ; and by adding at the end the following new paragraph: develop standards for, and a method for ensuring, appropriate strategic investment metrics of the Corporation’s portfolio. ; and in subsection (d), by striking 1413(i) and inserting 1413(j) ; and in section 1443 ( 22 U.S.C. 9653 )— in subsection (a)— in paragraph (3), by striking ; and and inserting a semicolon; in paragraph (4), by striking the period at the end and inserting ; and ; and by adding at the end the following new paragraph: the impact of the strategic investments made by the Corporation, which shall be included in a classified annex. ; and in subsection (b)— in paragraph (1)— in subparagraph (A), by striking ; and and inserting a semicolon; in subparagraph (B), by adding and at the end; and by adding at the end the following new subparagraph: the impact of the Corporation’s strategic investment efforts on United States foreign policy goals; ; and in paragraph (3)— in subparagraph (A), by striking ; and and inserting a semicolon; and by adding at the end the following new subparagraph: outcomes of the strategic investments portfolio, and whether or not such investments are meeting the foreign policy objectives of the United States; and .
Connectionstraces to 4
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cites case law
Sec. 202
Office of Strategic Investments in United States International Development Finance Corporation
U.S.C.§ 9601
U.S.C.§ 9613
U.S.C.§ 9652
U.S.C.§ 9653
Cites 4Cited by 0 across 0 sources
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