Sec. 7030. economic resilience initiative
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## SEC. 7030 economic resilience initiative ###
(a)Assistance Funds appropriated by this Act under the heading “Economic Support Fund” shall be made available for the Economic Resilience Initiative to enhance the economic security and stability of the United States and partner countries, including through efforts to counter economic coercion: * Provided,* That such funds are in addition to funds otherwise made available for such purposes by this Act, including funds made available under the heading “Treasury International Assistance Programs”: * Provided further,* That funds made available by this subsection may only be made available following consultation with, and the regular notification procedures of, the Committees on Appropriations, and shall include— ####
(1)not less than $55,000,000 for strategic infrastructure investments, which shall be administered by the Secretary of State in consultation with the heads of other relevant Federal agencies: * Provided,* That such funds may be transferred to, and merged with, funds appropriated by this Act to the Export-Import Bank of the United States under the heading “Program Account”, to the United States International Development Finance Corporation under the heading “Corporate Capital Account”, and under the heading “Trade and Development Agency”: * Provided further,* That such transfer authority is in addition to any other transfer authority provided by this Act or any other Act, and is subject to the regular notification procedures of the Committees on Appropriations; ####
(2)not less than $50,000,000 to enhance critical mineral supply chain security; ####
(3)not less than $60,000,000 for economic resilience programs administered by the Administrator of the United States Agency for International Development, consistent with the strategy required in subsection (d); and ####
(4)not less than $50,000,000 for the Cyberspace, Digital Connectivity, and Related Technologies Fund in accordance with Chapter 10 of Part II of the Foreign Assistance Act of 1961: * Provided,*That the authority of section 592(f) of such Act may apply to amounts made available for such Fund under the heading “Economic Support Fund” and such funds may be made available for the Digital Connectivity and Cybersecurity Partnership program consistent with section 6306 of the Department of State Authorization Act of 2023 (division F of Public Law 118-31): * Provided further,* That funds made available pursuant to this paragraph are in addition to funds otherwise made available for such purposes and shall be coordinated with the USAID Administrator, including for relevant USAID programming. ###
(b)Loan Guarantees Funds appropriated under the headings “Economic Support Fund” and “Assistance for Europe, Eurasia and Central Asia” by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs, including funds made available pursuant to this section, may be made available for the costs, as defined in section 502 of the Congressional Budget Act of 1974, of loan guarantees for Egypt, Jordan, Small Island Developing States, and Ukraine, which are authorized to be provided and which shall be administered by the United States Agency for International Development unless otherwise provided for by this Act or any other provision of law: * Provided,* That amounts made available under this subsection for the costs of such guarantees shall not be considered assistance for the purposes of provisions of law limiting assistance to a country: * Provided further,* That funds made available pursuant to the authorities of this subsection shall be subject to prior consultation with the appropriate congressional committees and the regular notification procedures of the Committees on Appropriations. ###
(c)CHIPS for America International Technology Security and Innovation Fund ####
(1)Within 45 days of enactment of this Act, the Secretary of State shall allocate amounts made available from the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America International Technology Security and Innovation Fund for fiscal year 2024 pursuant to the transfer authority in section 102(c)(1) of the CHIPS Act of 2022 (division A of Public Law 117-167), to the accounts specified and in the amounts specified, in the table titled “CHIPS for America International Technology Security and Innovation Fund” in the explanatory statement described in section 4 (in the matter preceding division A of this consolidated Act): * Provided,* That such funds shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. ####
(2)Neither the President nor his designee may allocate any amounts that are made available for any fiscal year under section 102(c)(2) of the CHIPS Act of 2022 if there is in effect an Act making or continuing appropriations for part of a fiscal year for the Department of State, Foreign Operations, and Related Programs: * Provided,* That in any fiscal year, the matter preceding this proviso shall not apply to the allocation, apportionment, or allotment of amounts for continuing administration of programs allocated using funds transferred from the CHIPS for America International Technology Security and Innovation Fund, which may be allocated pursuant to the transfer authority in section 102(c)(1) of the CHIPS Act of 2022 only in amounts that are no more than the allocation for such purposes in paragraph
(1)of this subsection. ####
(3)Concurrent with the annual budget submission of the President for fiscal year 2025, the Secretary of State shall submit to the Committees on Appropriations proposed allocations by account and by program, project, or activity, with detailed justifications, for amounts made available under section 102(c)(2) of the CHIPS Act of 2022 for fiscal year 2025. ####
(4)The Secretary of State shall provide the Committees on Appropriations quarterly reports on the status of balances of projects and activities funded by the CHIPS for America International Technology Security and Innovation Fund for amounts allocated pursuant to paragraph
(1)of this subsection, including all uncommitted, committed, and unobligated funds. ####
(5)Amounts transferred to the Export-Import Bank and the United States International Development Finance Corporation pursuant to the transfer authority in section 102(c)(1) of the CHIPS Act of 2022 (division A of Public Law 117-167) may be made available for the costs of direct loans and loan guarantees, including the cost of modifying such loans, as defined in section 502 of the Congressional Budget Act of 1974. ###
(d)Strategy Not later than 90 days after the date of enactment of this Act and following consultation with the Committees on Appropriations, the Secretary of State, Secretary of the Treasury, and USAID Administrator, in consultation with the heads of other relevant Federal agencies, shall jointly submit a strategy to the Committees on Appropriations detailing the planned uses of funds provided by this Act, prior Acts making appropriations for the Department of State, foreign operations, and related programs, and other Acts, consistent with the purposes of this section, including through cooperation with the private sector.
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