[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 2695 Introduced in Senate (IS)]







107th CONGRESS
  2d Session
                                S. 2695

To amend the Foreign Assistance Act of 1961 to extend the authority for 
      debt reduction, debt-for-nature swaps, and debt buybacks to 
  nonconcessional loans and credits made to developing countries with 
                           tropical forests.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 27, 2002

  Mr. Frist (for himself, Mr. Feingold, and Mr. Lugar) introduced the 
 following bill; which was read twice and referred to the Committee on 
                           Foreign Relations

_______________________________________________________________________

                                 A BILL


 
To amend the Foreign Assistance Act of 1961 to extend the authority for 
      debt reduction, debt-for-nature swaps, and debt buybacks to 
  nonconcessional loans and credits made to developing countries with 
                           tropical forests.

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

SECTION 1. EXTENSION OF DEBT REDUCTION, DEBT-FOR-NATURE SWAPS, AND DEBT 
              BUYBACKS TO NONCONCESSIONAL LOANS AND CREDITS MADE TO 
              DEVELOPING COUNTRIES WITH TROPICAL FORESTS.

    (a) Debt Reduction.--Section 806 of the Foreign Assistance Act of 
1961 (22 U.S.C. 2431d) is amended--
            (1) in the section heading, by striking ``concessional 
        loans'' and inserting ``loans or credits''; and
            (2) in subsection (a)(1), by striking ``concessional 
        loans'' and inserting ``loans (including concessional loans) or 
        credits''.
    (b) Debt-for-Nature Swaps.--Section 808(a)(1) of the Foreign 
Assistance Act of 1961 (22 U.S.C. 2431f(a)(1)) is amended by striking 
``concessional loans'' and inserting ``loans (including concessional 
loans) or credits''.
    (c) Debt Buybacks.--Section 808(a)(2) of the Foreign Assistance Act 
of 1961 (22 U.S.C. 2431f(a)(2)) is amended by striking ``concessional 
loans'' and inserting ``loans (including concessional loans) or 
credits''.
    (d) Effective Date.--The amendments made by this section shall 
apply to loans made or credits extended before, on, or after the date 
of enactment of this Act.
                                 <all>