§ 9656. Notifications to be provided by the Corporation

304 words·~1 min read·/usc/title-22/section-9656

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(a)In general Not later than 15 days prior to the Corporation making a financial commitment associated with the provision of support under subchapter II of this title in an amount in excess of $20,000,000, the Chief Executive Officer of the Corporation shall submit to the appropriate congressional committees a report in writing that contains the information required by subsection (b).

(b)Information required The information required by this subsection includes—

(1)the amount of each such financial commitment;

(2)an identification of the recipient or beneficiary;

(3)a description of the project, activity, or asset and the Corporation’s impact quotient outlining the development goal or purpose to be achieved by providing support by the Corporation; and

(A)information relating to whether the Corporation has accepted a creditor status that is subordinate to that of other creditors in the project, activity, or asset; and

(B)for all projects, activities, or assets that the Corporation has accepted a creditor status that is subordinate to that of other creditors the Corporation shall include a description of the substantive policy rationale required by section 9623(b)(12) of this title that influenced the decision to accept such a creditor status.

(c)Bilateral agreements The Chief Executive Officer of the Corporation shall notify the appropriate congressional committees not later than 30 days after entering into a new bilateral agreement described in section 9631(a) of this title.

(Pub. L. 115–254, div. F, title IV, § 1446, Oct. 5, 2018, 132 Stat. 3507; (As amended Pub. L. 119–60, div. H, title LXXXVII, § 8757, Dec. 18, 2025, 139 Stat. 1967.)

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