Eastern European Security Act Public Law 116–332 Eastern European Security Act 332 116–332 Statute Compilation United States House of Representatives Office of the Legislative Counsel 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. GPO Statute Compilations USLM converter, version 20210527.1 2021-10-15 Eastern European Security Act 16197 116 2021-01-13 Eastern European Security Act [(Public Law 116–332)] [This law has not been amended] [Currency: This publication is a compilation of the text of Public Law 116–332. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/] [Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]
AN ACTTo authorize the Secretary of State to make direct loans under section 23 of the Arms Export Control Act, and for other purposes.Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. [22 U.S.C. 2763 note] SHORT TITLE. This Act may be cited as the “Eastern European Security Act”.
SEC. 2. SENSE OF CONGRESS. It is the sense of Congress that it is in the national security interest of the United States to— (1) deter aggression against North Atlantic Treaty Organization (NATO) allies by Russia or any other adversary; (2) assist NATO allies in acquiring and deploying modern, NATO interoperable military equipment and reducing their dependence on Russian or former Soviet-era defense articles; (3) ensure that NATO allies meet alliance defense commitments, including through adequate investments in national defense; (4) supplement existing grant assistance to key allies through foreign military financing loans, at rates competitive with those already available on commercial markets, to purchase NATO-interoperable military equipment; and (5) work to maintain and strengthen the democratic institutions and practices of all NATO allies, in accordance with the goals of Article 2 of the North Atlantic Treaty.
SEC. 3. FOREIGN MILITARY LOAN AUTHORITY. (a) In General.—Beginning in fiscal year 2021, subject to the notification requirements under subsection (b) and to the availability of appropriations, the President, acting through the Secretary of State, is authorized— (1) to make direct loans under section 23 of the Arms Export Control Act (22 U.S.C. 2763) to NATO member countries that joined the alliance after March 1, 1999, notwithstanding the minimum interest rate required by subsection (c)(1) of such section; and (2) to charge fees for such loans under paragraph (1), which shall be collected from borrowers in accordance with section 502(7) of the Congressional Budget Act of 1974, and which may be used to cover the costs of such loans as defined in section 502 of the Congressional Budget Act of 1974. (b) Notification.—A loan may not be made under the authority provided by subsection (a) unless the Secretary of State submits to the appropriate congressional committees a certification, not fewer than fifteen days before entering into an agreement to make such loan, that— (1) the recipient country is making demonstrable progress toward meeting its defense spending commitments in accordance with the 2014 NATO Wales Summit Declaration; and (2) the government of such recipient country is respecting that country’s constitution and upholds democratic values such as freedom of religion, freedom of speech, freedom of the press, the rule of law, and the rights of religious minorities. (c) Repayment.—A loan made under the authority provided by subsection (a) shall be repaid in not more than 12 years, but may include a grace period of up to 1 year on the repayment of the principal. (d) Appropriate Congressional Committees Defined.—In this Act, the term “appropriate congressional committees” means— (1) the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives; and (2) the Committee on Foreign Relations and the Committee on Appropriations of the Senate.