§ 290m–5. Grants out of paid-in capital resources
351 words·~2 min read·
/usc/title-22/section-290m-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The President shall instruct the United States Federal Government representatives on the Board of Directors of the North American Development Bank to oppose any proposal where grants out of the Bank’s paid-in capital resources, except for grants from paid-in capital authorized for the community adjustment and investment program under the Bank’s charter of 1993, would— be made to a project that is not being financed, in part, by loans; or account for more than 50 percent of the financing of any individual project. The requirements of subsection
(a)shall not apply in cases where— the President determines there are exceptional economic circumstances for making the grant and consults with the Committee on Foreign Relations of the Senate and the Committee on Financial Services of the House of Representatives; or the grant is being made for a project that is so small that obtaining a loan is impractical; and the grant does not exceed $250,000. Not more than an aggregate of $5,000,000 in grants may be made under this subsection. ( Pub. L. 103–182, title V, § 546 , as added Pub. L. 108–215, § 1(b) , Apr. 5, 2004 , 118 Stat. 579 ; amended Pub. L. 116–113, title VI, § 601 , Jan. 29, 2020 , 134 Stat. 78 ; Pub. L. 116–260, div. O, title VI, § 601(a)(1) , (2), Dec. 27, 2020 , 134 Stat. 2149 .)
Connectionstraces to 2
Traces to 2 documents
5 references not yet in our index
- Pub. L. 103-182
- Pub. L. 108-215
- 118 Stat. 579
- 134 Stat. 78
- 134 Stat. 2149
Citation graph
cites case law
§ 290m–5
Grants out of paid-in capital resources
Pub. L.Pub. L. 103-182
Pub. L.Pub. L. 108-215
Stat.118 Stat. 579
Stat.134 Stat. 78
Stat.134 Stat. 2149
Cites 7Cited by 0 across 0 sources