[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2745 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 2745

  To provide for the establishment of the Kosovar-American Enterprise 
  Fund to promote small business and microcredit lending and housing 
              construction and reconstruction for Kosova.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 5, 1999

 Mr. Engel (for himself, Mr. King, Mr. Lantos, Mr. Moran of Virginia, 
  Mr. McGovern, Mr. Pallone, and Mrs. Kelly) introduced the following 
  bill; which was referred to the Committee on International Relations

_______________________________________________________________________

                                 A BILL


 
  To provide for the establishment of the Kosovar-American Enterprise 
  Fund to promote small business and microcredit lending and housing 
              construction and reconstruction for Kosova.

    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 ``Kosovar-American Enterprise Fund Act 
of 1999''.

SEC. 2. KOSOVAR-AMERICAN ENTERPRISE FUND.

    Chapter 1 of part III of the Foreign Assistance Act of 1961 (22 
U.S.C. 2351 et seq.) is amended by inserting after section 601 the 
following new section:

``SEC. 601A. KOSOVAR-AMERICAN ENTERPRISE FUND.

    ``(a) Purposes.--The purposes of this section are to promote small- 
and medium-sized business development in Kosova through loans, 
microcredit lending, grants, equity investments, insurance, and loan 
guarantees.
    ``(b) Authorization of Appropriations.--
            ``(1) In general.--There are authorized to be appropriated 
        to the President to carry out this section $30,000,000 for 
        fiscal year 2000.
            ``(2) Availability.--Amounts appropriated pursuant to the 
        authorization of appropriations under paragraph (1) are 
        authorized to remain available until expended.
    ``(c) Nonapplicability of Other Laws.--Amounts appropriated 
pursuant to the authorization of appropriations under subsection (b)(1) 
may be made available to the Kosovar-American Enterprise Fund 
designated under subsection (d)(1) and used for the purposes of this 
section notwithstanding any other provision of law.
    ``(d) Designation of Enterprise Funds.--
            ``(1) Designation.--The President is authorized to 
        designate 1 private, nonprofit organization as eligible to 
        receive funds and support pursuant to this section upon a 
        determination by the President that the organization has been 
        established for the purposes specified in subsection (a). For 
        purposes of this section, the organization so designated shall 
        be referred to as the `Kosovar-American Enterprise Fund' 
        (hereinafter in this section referred to as the `Enterprise 
        Fund').
            ``(2) Consultation with congress.--The President shall 
        consult with the leadership of each House of Congress before 
        designating an organization pursuant to paragraph (1).
            ``(3) Additional requirements.--Paragraphs (3) through (5) 
        of section 201(d) of the Support for East European Democracy 
        (SEED) Act of 1989 (22 U.S.C. 5421(d)(3) through (5)) shall 
        apply to the Enterprise Fund designated under paragraph (1).
    ``(e) Grant to Enterprise Fund.--The Administrator of the United 
States Agency for International Development shall, from amounts 
appropriated to the President under subsection (b), provide a grant to 
the Enterprise Fund to enable the Enterprise Fund to carry out the 
purposes specified in subsection (a) and for the administrative 
expenses of the Enterprise Fund.
    ``(f) Treatment Equivalent to Enterprise Funds for Poland and 
Hungary.--Except to the extent inconsistent with the provisions of this 
section, subsections (f) through (p) of section 201 of the Support for 
East European Democracy (SEED) Act of 1989 (22 U.S.C. 5421(f) through 
(p)) shall apply to the Enterprise Fund to the same extent and in the 
same manner as such subsections apply to the Polish-American Enterprise 
Fund and the Hungarian-American Enterprise Fund.''.
                                 <all>