3.0.0 3145 2023-01-15T08:18:15Z 2023-01-15T08:18:15Z House H HR 2003-09-23 108 hsfa00 Foreign Affairs Committee House Standing Reported by 2003-11-04T17:55:29Z Markup by 2003-09-25T21:04:04Z Referred to 2003-09-23T16:31:45Z H. Rept. 108-339 Overseas Private Investment Corporation Amendments Act of 2003 108 1824 S 2003-12-03 Became Public Law No: 108-158. Related bill CRS Companion bill Senate Related bill House 2003-11-04 Placed on the Union Calendar, Calendar No. 198. Calendars H12410 2 House floor actions U00198 2003-11-04 Reported (Amended) by the Committee on International Relations. H. Rept. 108-339. Committee H12200 2 House floor actions hsfa00 Foreign Affairs Committee 2003-11-04 Reported (Amended) by the Committee on International Relations. H. Rept. 108-339. Committee 5000 9 Library of Congress hsfa00 Foreign Affairs Committee 2003-09-25 hsfa00 Foreign Affairs Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2003-09-25 hsfa00 Foreign Affairs Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2003-09-23 Referred to the House Committee on International Relations. IntroReferral H11100 2 House floor actions hsfa00 Foreign Affairs Committee 2003-09-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2003-09-23 Introduced in House IntroReferral 1000 9 Library of Congress H001022 Rep. Hyde, Henry J. [R-IL-6] HENRY HYDE R IL J. 6 N L000090 Rep. Lantos, Tom [D-CA-12] TOM LANTOS D CA 12 2003-09-23 True 2003-09-30T04:00:00Z H.R. 3145, Overseas Private Investment Corporation Amendments Act of 2003 http://www.cbo.gov/publication/14783 <p>Cost estimate for the bill as ordered reported by the House Committee on International Relations</p> 2003-09-30T04:00:00Z H.R. 3145, Overseas Private Investment Corporation Amendments Act of 2003 https://www.cbo.gov/publication/14783 Cost estimate for the bill as ordered reported by the House Committee on International Relations S. 1824 https://www.congress.gov/bill/108th-congress/senate-bill/1824 International Affairs American investments Commerce Counterpart funds Developing countries Economics and Public Finance Expropriation Federally-guaranteed loans Foreign Trade and International Finance Foreign banks and banking Foreign corporations Government Operations and Politics Government corporations Government insurance Government ownership Investment guaranty insurance Overseas Private Investment Corporation Revolving funds International Affairs 00 2003-09-23 Introduced in House 2004-02-24T21:53:04Z Overseas Private Investment Corporation Amendments Act of 2003 - Amends the Foreign Assistance Act of 1961 to continue through FY 2007 the authority of the Overseas Private Investment Corporation (OPIC) to issue investment insurance and guaranties.

Authorizes OPIC to make transfers from its noncredit activities to pay for administrative costs of its investment guaranties and direct loan programs as well as (under current law) to pay for their subsidy costs.

Changes to a noncredit account revolving fund the current insurance and guaranty fund in the Treasury, with its separate Insurance Reserve and Guaranty Reserve accounts, hereby abolished.

Revises requirements for the OPIC Board of Directors to require the seven U.S. Government directors to be principal officers (currently, officials) whose duties relate to OPIC programs.

Extends OPIC investment insurance coverage to loss of investment in an approved project due to expropriation or confiscation by any political subdivision of, or a corporation owned or controlled by, a foreign government (currently, expropriation or confiscation only by the foreign government itself).

Authorizes OPIC to issue loan guaranties: (1) denominated in currencies other than U.S. dollars (local currencies); and (2) to local financial institutions, that is, any bank or financial institution organized under the laws of any country or area in which the OPIC operates, but excluding a branch, however organized, of a bank or other financial institution organized under the laws of a country in which OPIC does not operate.

]]> 17 2003-11-04 Reported to House with amendment(s) 2004-02-24T22:04:54Z Overseas Private Investment Corporation Amendments Act of 2003 - (Sec. 2) Amends the Foreign Assistance Act of 1961 to continue through FY 2007 the authority of the Overseas Private Investment Corporation (OPIC) to issue investment insurance and guaranties.

(Sec. 3) Authorizes OPIC to make transfers from its noncredit activities to pay for administrative costs of its investment guaranties and direct loan programs as well as (under current law) to pay for their subsidy costs.

Changes to a noncredit account revolving fund in the Treasury the current insurance and guaranty fund, with its separate Insurance Reserve and Guaranty Reserve accounts, hereby abolished.

Revises requirements for the OPIC Board of Directors to require the seven U.S. Government directors to be principal officers (currently, officials) whose duties relate to OPIC programs.

(Sec. 4) Extends OPIC investment insurance coverage to loss of investment in an approved project due to expropriation or confiscation by any political subdivision of, or a corporation owned or controlled by, a foreign government (currently, expropriation or confiscation only by the foreign government itself).

(Sec. 5) Authorizes OPIC to issue loan guaranties: (1) denominated in currencies other than U.S. dollars (local currencies); and (2) to local financial institutions, that is, any bank or financial institution organized under the laws of any country or area in which the OPIC operates, but excluding a branch, however organized, of a bank or other financial institution organized under the laws of a country in which OPIC does not operate.

(Sec. 6) Directs OPIC to collect and report annually to Congress about data on the involvement of minority- and women-owned businesses in OPIC-supported projects, including: (1) the amount of insurance and financing provided by OPIC to such businesses; and (2) the involvement of such businesses in OPIC-conducted and -supported procurement activities (to the extent such information is available).

]]> Overseas Private Investment Corporation Amendments Act of 2003 Display Title Overseas Private Investment Corporation Amendments Act of 2003 Official Title as Introduced To amend the Foreign Assistance Act of 1961 to reauthorize the Overseas Private Investment Corporation, and for other purposes. Introduced in House IH Short Titles as Introduced Overseas Private Investment Corporation Amendments Act of 2003 Short Titles as Reported to House Overseas Private Investment Corporation Amendments Act of 2003 H House Reported in House 2003-11-04T05:00:00Z Introduced in House 2003-09-23T04:00:00Z 2003-11-04 Placed on the Union Calendar, Calendar No. 198. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.