[Congressional Record Volume 170, Number 119 (Tuesday, July 23, 2024)]
[Senate]
[Pages S5221-S5222]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2944. Mr. KAINE submitted an amendment intended to be proposed by 
him to the bill S. 4638, to authorize appropriations for fiscal year 
2025 for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the end of subtitle F of title XII, add the following:

     SEC. 1291. SUBSCRIPTION TO ADDITIONAL SHARES OF CAPITAL STOCK 
                   OF THE INTER-AMERICAN INVESTMENT CORPORATION.

       The Inter-American Investment Corporation Act (22 U.S.C. 
     283aa et seq.) is amended by adding at the end the following:

     ``SEC. 212. SUBSCRIPTION TO ADDITIONAL SHARES OF CAPITAL 
                   STOCK OF THE CORPORATION.

       ``(a) In General.--The Secretary of the Treasury may 
     subscribe on behalf of the United States to not more than 
     58,942 additional shares of the capital stock of the 
     Corporation.
       ``(b) Limitation.--Any subscription to the additional 
     shares shall be effective only to such extent or in such 
     amounts as are provided in an appropriations Act.
       ``(c) Report Required.--
       ``(1) In general.--At the conclusion of negotiations for an 
     increase in the authorized capital stock of the Corporation 
     to which the United States subscribes, the Secretary of the 
     Treasury shall submit to the committees specified in 
     paragraph (2) a report that includes--

[[Page S5222]]

       ``(A) the full dollar amount of the United States 
     subscription to additional shares of capital stock of the 
     Corporation; and
       ``(B) a certification that the Inter-American Development 
     Bank Group has made satisfactory progress toward reforms 
     that--
       ``(i) increase the responsiveness of the Inter-American 
     Development Bank Group to the development needs of all 
     borrowing countries in Latin America and the Caribbean;
       ``(ii) improve the effectiveness of the financing of the 
     Inter-American Development Bank Group;
       ``(iii) foster the development of a vibrant private sector 
     in the region;
       ``(iv) help address global and regional challenges; and
       ``(v) promote more efficient use of the financial resources 
     of the Inter-American Development Bank Group.
       ``(2) Committees specified.--The committees specified in 
     this paragraph are--
       ``(A) the Committee on Appropriations and the Committee on 
     Foreign Relations of the Senate; and
       ``(B) the Committee on Appropriations and the Committee on 
     Financial Services of the House of Representatives.''.
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