[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1681 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 1681

    To amend the Foreign Assistance Act of 1961 with respect to the 
       activities of the Overseas Private Investment Corporation.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 20, 1997

  Mr. Gilman (for himself and Mr. Hamilton) introduced the following 
  bill; which was referred to the Committee on International Relations

_______________________________________________________________________

                                 A BILL


 
    To amend the Foreign Assistance Act of 1961 with respect to the 
       activities of the Overseas Private Investment Corporation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Overseas Private Investment 
Corporation Amendments Act of 1997''.

SEC. 2. ISSUING AUTHORITY.

    (a) Maximum Contingent Liability.--Section 235(a) of the Foreign 
Assistance Act of 1961 (22 U.S.C. 2195(a)) is amended by striking 
paragraph (1) and all that follows through the end of subparagraph (A) 
of paragraph (2) and inserting the following:
            ``(1) Insurance and financing.--(A) The maximum contingent 
        liability outstanding at any one time pursuant to insurance 
        issued under section 234(a), and the amount of financing issued 
        under sections 234 (b) and (c), shall not exceed in the 
        aggregate $32,000,000,000.''.
    (b) Termination of Authority.--Paragraph (3) of section 235(a) of 
the Foreign Assistance Act of 1961 (22 U.S.C. 2195(a)(3)) is amended--
            (1) by redesignating such paragraph as paragraph (2); and
            (2) by striking ``1997'' and inserting ``2000''.
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