110 HR 5899 IH: Iraq Shared Investment U.S. House of Representatives 2008-04-24 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.

I 110th CONGRESS 2d Session H. R. 5899 IN THE HOUSE OF REPRESENTATIVES April 24, 2008 Mr. Boyd of Florida introduced the following bill; which was referred to the Committee on Armed Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To require funding under the Iraq Security Forces Fund to be provided in the form of loans and to require the Government of Iraq to provide matching funds under the Commanders’ Emergency Response Program to be used for agreed-upon purposes which enable military commanders in Iraq to respond to urgent humanitarian relief and reconstruction requirements.

1.

Short title

This Act may be cited as the Iraq Shared Investment Act.

2.

Requirement that funding under the Iraq Security Forces Fund be provided in the form of loans

Notwithstanding any other provision of law, amounts made available under the Iraq Security Forces Fund that are unobligated and unexpended on or after the date of the enactment of this Act shall be provided in the form of loans subject to full repayment to the Government of the United States.

3.

Requirement that the Government of Iraq provide matching funds under the Commanders’ Emergency Response Program

(a)

In general

Section 1202 of the National Defense Authorization Act for Fiscal Year 2006 (Public Law 109–163; 119 Stat. 3455–3456), as amended by section 1205 of Public Law 110–181; 122 Stat. 366), is further amended by adding at the end the following: (f)

Matching fund requirement under the Commanders’ Emergency Response Program

(1)

In general

For each of the fiscal years 2008 and 2009, the Secretary of Defense shall withhold from obligation and expenditure not less than 20 percent of the amount made available under this section for the Commanders’ Emergency Response Program until the Secretary of Defense certifies to the congressional defense committees that the Government of Iraq has agreed to provide an amount equal to 20 percent of the amount made available under this section for the Commanders’ Emergency Response Program from its own resources to be used for agreed-upon purposes which enable military commanders in Iraq to respond to urgent humanitarian relief and reconstruction requirements. (2)

Reduction of national debt

If the Secretary of Defense is unable to make the certification under paragraph (1), the amount withheld from obligation and expenditure under paragraph (1) shall be available for reducing the national debt. . (b)

Effective date

Section 1202(f) of the National Defense Authorization Act for Fiscal Year 2006, as added by subsection (a), shall apply with respect to amounts made available under such section for the Commanders’ Emergency Response Program that are unobligated and unexpended on or after the date of the enactment of this Act.