Sec. 8758. Limitations and preferences
337 words·~2 min read·
/bill/119/s/1071/eah/section-8758A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1451 of the Better Utilization of Investments Leading to Development Act of 2018 ( 22 U.S.C. 9671 ) is amended— in subsection (a), by striking 5 percent and inserting 2.5 percent ; and by adding at the end the following: The Corporation shall develop appropriate policies and guidelines for support provided under title II for a project involving a state-owned enterprise, sovereign wealth fund, or a parastatal entity to ensure such support is provided consistent with appropriate principles and practices of competitive neutrality.
The Corporation may not provide support under title II for a project that involves a private sector entity engaged in anticompetitive practices. The Corporation may not provide support under title II for projects that would be operated, managed, or controlled by the government of a county of concern or a state-owned enterprise that belongs to or is under the control of a country of concern. The President may waive the restriction under subparagraph
(B)on a project-by-project basis if the President submits to the appropriate congressional committees— a certification, which may be included as a classified or confidential annex to a report required by section 1446, that such support is important to the national security interests of the United States; and a written justification of how such support directly counters or significantly limits the influence of an entity described in such subparagraph. In this subsection: The term control , with respect to an enterprise, means the power by any means to control the enterprise regardless of— the level of ownership; and whether or not the power is exercised. The term owned , with respect to an enterprise, means a majority or controlling interest, whether by value or voting interest, of the shares of that enterprise, including through fiduciaries, agents, or other means. The term state-owned enterprise means any enterprise established for a commercial or business purpose that is directly owned or controlled by one or more governments, including any agency, instrumentality, subdivision, or other unit of government at any level of jurisdiction. .
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 8758
Limitations and preferences
Cites 1Cited by 0 across 0 sources