Overseas Private Investment Corporation Amendments Act of 2003

3.0.0 1824 2023-01-15T08:48:05Z 2023-01-15T08:48:05Z Senate S S 2003-11-05 108 ssfr00 Foreign Relations Committee Senate Standing Reported by 2003-11-11T23:19:22Z Markup by 2003-11-06T20:36:46Z Referred to 2003-11-05T21:17:24Z S. Rept. 108-194 Overseas Private Investment Corporation Amendments Act of 2003 108 3145 HR 2003-11-04 Placed on the Union Calendar, Calendar No. 198. Related bill CRS Companion bill Senate Related bill House 2003-12-03 Became Public Law No: 108-158. President E40000 2 House floor actions 2003-12-03 Became Public Law No: 108-158. BecameLaw 36000 9 Library of Congress 2003-12-03 Signed by President. President E30000 2 House floor actions 2003-12-03 Signed by President. BecameLaw 36000 9 Library of Congress 2003-11-21 Presented to President. Floor E20000 2 House floor actions 2003-11-21 Presented to President. President 28000 9 Library of Congress 2003-11-19 14:20:40 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2003-11-19 14:20:38 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H11553-11554) Floor H37300 2 House floor actions 2003-11-19 14:20:38 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H11553-11554) Floor 8000 9 Library of Congress 2003-11-19 14:07:59 DEBATE - The House proceeded with forty minutes of debate on S. 1824. Floor H8D000 2 House floor actions 2003-11-19 14:07:57 Considered under suspension of the rules. (consideration: CR H11553-11557) Floor H30000 2 House floor actions 2003-11-19 14:07:44 Mr. Bereuter moved to suspend the rules and pass the bill. Floor H30300 2 House floor actions 2003-11-17 18:52:47 Held at the desk. Floor H15000 2 House floor actions 2003-11-17 Senate Message on Senate action sent to the House. Floor 2003-11-17 12:31:32 Received in the House. Floor H14000 2 House floor actions 2003-11-14 Senate Passed Senate without amendment by Unanimous Consent. (consideration: CR S14860-14861; text as passed Senate: CR S14860-14861) Floor 2003-11-14 Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S14860-14861; text as passed Senate: CR S14860-14861) Floor 17000 9 Library of Congress 2003-11-11 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 386. Calendars 2003-11-11 ssfr00 Foreign Relations Committee Senate Committee on Foreign Relations. Reported by Senator Lugar without amendment. With written report No. 108-194. Committee 2003-11-11 Committee on Foreign Relations. Reported by Senator Lugar without amendment. With written report No. 108-194. Committee 14000 9 Library of Congress ssfr00 Foreign Relations Committee 2003-11-06 ssfr00 Foreign Relations Committee Senate Committee on Foreign Relations. Ordered to be reported without amendment favorably. Committee 2003-11-05 ssfr00 Foreign Relations Committee Senate Read twice and referred to the Committee on Foreign Relations. IntroReferral 2003-11-05 Introduced in Senate IntroReferral 10000 9 Library of Congress L000504 Sen. Lugar, Richard G. [R-IN] RICHARD LUGAR R IN GREEN N H001028 Sen. Hagel, Chuck [R-NE] CHUCK HAGEL R NE 2003-11-05 True B000444 Sen. Biden, Joseph R., Jr. [D-DE] JOSEPH BIDEN D DE ROBINETTE 2003-11-05 True S000064 Sen. Sarbanes, Paul S. [D-MD] PAUL SARBANES D MD SPYROS 2003-11-05 True 2003-11-10T06:00:00Z S. 1824, Overseas Private Investment Corporation Amendments Act of 2003 http://www.cbo.gov/publication/14931 <p>Cost estimate for the bill as ordered reported by the Senate Committee on Foreign Relations on November 6, 2003</p> 2003-11-10T06:00:00Z S. 1824, Overseas Private Investment Corporation Amendments Act of 2003 https://www.cbo.gov/publication/14931 Cost estimate for the bill as ordered reported by the Senate Committee on Foreign Relations on November 6, 2003 Public Law 108-158 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 2003-11-05 Introduced in Senate 2004-02-24T22:16:09Z 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 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.

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.

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).

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49 2003-12-03 Public Law 2004-02-24T22:22:22Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

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).

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Overseas Private Investment Corporation Amendments Act of 2003 Display Title Overseas Private Investment Corporation Amendments Act of 2003 Official Title as Introduced A bill to amend the Foreign Assistance Act of 1961 to reauthorize the Overseas Private Investment Corporation, and for other purposes. Introduced in Senate IS Short Titles as Passed House Overseas Private Investment Corporation Amendments Act of 2003 H House Short Titles as Enacted Overseas Private Investment Corporation Amendments Act of 2003 Short Titles as Passed Senate Overseas Private Investment Corporation Amendments Act of 2003 S Senate Short Titles as Reported to Senate Overseas Private Investment Corporation Amendments Act of 2003 S Senate Short Titles as Introduced Overseas Private Investment Corporation Amendments Act of 2003 Enrolled Bill Engrossed in Senate 2003-11-14T05:00:00Z Reported to Senate 2003-11-11T05:00:00Z Introduced in Senate 2003-11-05T05:00:00Z 2003-12-04T04:59:59Z https://www.govinfo.gov/content/pkg/PLAW-108publ158/xml/PLAW-108publ158.xml Public Law 2003-12-03 Became Public Law No: 108-158. 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.