[Congressional Record Volume 170, Number 120 (Wednesday, July 24, 2024)]
[Senate]
[Pages S5407-S5408]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3093. Mr. ROMNEY (for himself and Mrs. Shaheen) 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 title IX, add the following:

  Subtitle C--Expansion of Authorities of Office of Strategic Capital

     SEC. 931. SHORT TITLE.

       This subtitle may be cited as the ``Investing in Our 
     Defense Act of 2024''.

     SEC. 932. AUTHORIZATION TO MAKE EQUITY INVESTMENTS.

       (a) In General.--Section 149 of title 10, United States 
     Code, as amended by section 913, is further amended--
       (1) by redesignating subsection (e) as subsection (f); and
       (2) by inserting after subsection (d) the following new 
     subsection (e):
       ``(e) Equity Investments.--
       ``(1) In general.--To the extent and in such amounts as are 
     specifically provided in advance in appropriations Acts for 
     the purposes described in this subsection, the Office may, as 
     a minority investor, support eligible investments with funds 
     or use other mechanisms for the purpose of purchasing, and 
     may make and fund commitments to purchase, invest in, make 
     pledges in respect of, or otherwise acquire, equity or quasi-
     equity securities or shares or financial interests of any 
     entity, upon such terms and conditions as the Director may 
     determine.
       ``(2) Limitations on equity investments.--
       ``(A) Per project limit.--The aggregate amount of support 
     provided under this subsection with respect to any eligible 
     investment shall not exceed 20 percent of the aggregate 
     amount of all equity investment made to the project at the 
     time that the Office approves support for the eligible 
     investment.
       ``(B) Total limit.--Support provided under this subsection 
     shall be limited to not more than 35 percent of the aggregate 
     exposure of the Office on the date on which the support is 
     provided.
       ``(3) Sales and liquidation of support.--The Office shall 
     seek to sell and liquidate any support for an eligible 
     investment provided under this subsection as soon as 
     commercially feasible, commensurate with other similar 
     investors in the project and taking into consideration the 
     national security interests of the United States.
       ``(4) Timetable.--The Office shall create an eligible 
     investment-specific timetable for support provided under 
     paragraph (1).''.
       (b) Conforming Amendment.--Subsection (f)(1) of such 
     section, as redesignated by subsection (a), is further 
     amended by inserting

[[Page S5408]]

     ``, equity investment'' after ``loan guarantee''.

     SEC. 933. AUTHORIZATION TO COLLECT FEES FOR PROVIDING CAPITAL 
                   INVESTMENTS.

       Section 149 of title 10, United States Code, as amended by 
     section 932, is further amended--
       (1) by redesignating subsection (f) as subsection (g); and
       (2) by inserting after subsection (e) the following new 
     subsection (f):
       ``(f) Fee Authority.--The Director may charge and collect 
     fees for providing capital assistance in amounts to be 
     determined by the Director. Such fees, once collected, may be 
     used only for the purposes and to the extent provided in 
     advance by appropriations Acts.''.
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