[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7570 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 7570

 To amend the Better Utilization of Investments Leading to Development 
 Act of 2018 to facilitate increased equity investments under that Act.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              July 9, 2020

   Mr. Yoho (for himself and Mr. Smith of Washington) introduced the 
 following bill; which was referred to the Committee on Foreign Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Better Utilization of Investments Leading to Development 
 Act of 2018 to facilitate increased equity investments under that Act.

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

SECTION 1. FACILITATION OF INCREASED EQUITY INVESTMENTS UNDER THE 
              BETTER UTILIZATION OF INVESTMENTS LEADING TO DEVELOPMENT 
              ACT OF 2018.

    (a) Applicability of Federal Credit Reform Act of 1990.--Section 
1421(c) of the Better Utilization of Investments Leading to Development 
Act of 2018 (22 U.S.C. 9621(c)) is amended by adding at the end the 
following:
            ``(7) Applicability of federal credit reform act of 1990.--
                    ``(A) In general.--Subject to subparagraphs (B) and 
                (C), support provided under paragraph (1) with respect 
                to a project shall be considered to be a Federal credit 
                program that is subject to the Federal Credit Reform 
                Act of 1990 (2 U.S.C. 661 et seq.) for purposes of 
                applying the requirements of such Act to such support.
                    ``(B) Determination of cost.--
                            ``(i) In general.--For purposes of section 
                        502(5) of the Federal Credit Reform Act of 1990 
                        (2 U.S.C. 661a(5) et seq.) the cost of support 
                        provided under paragraph (1) with respect to a 
                        project shall be the net present value, at the 
                        time when funds are disbursed to provide the 
                        support, of the following estimated cash flows:
                                    ``(I) The purchase price of the 
                                support.
                                    ``(II) Dividends, redemptions, and 
                                other shareholder distributions during 
                                the term of the support.
                                    ``(III) Proceeds received upon a 
                                sale, redemption, or other liquidation 
                                of the support.
                                    ``(IV) Adjustments for risk of 
                                estimated losses, if any.
                            ``(ii) Changes in terms included.--The 
                        estimated cash flows described in subclauses 
                        (I) through (IV) of clause (i) shall include 
                        the effects of changes in terms resulting from 
                        the exercise of options included in the 
                        agreement to provide the support.
                    ``(C) Reestimate of cost.--When the estimated cost 
                of support provided under paragraph (1) with respect to 
                a project made in a single fiscal year is reestimated 
                in a subsequent year, the difference between the 
                reestimated cost and the previous cost estimate shall 
                be paid from the balances available in the Corporate 
                Capital Account established under section 1434.''.
    (b) Funding for Corporate Capital Account.--Section 1434(b) of the 
Better Utilization of Investments Leading to Development Act of 2018 
(22 U.S.C. 9634(b)) is amended--
            (1) in paragraph (5), by striking ``and'' at the end;
            (2) by redesignating paragraph (6) as paragraph (7); and
            (3) by inserting after paragraph (5) the following:
            ``(7) receipts of reestimated costs received pursuant to 
        section 1421(c).''.
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