[116th Congress Public Law 332]
[From the U.S. Government Publishing Office]
[[Page 134 STAT. 5111]]
Public Law 116-332
116th Congress
An Act
To authorize the Secretary of State to make direct loans under section
23 of the Arms Export Control Act, and for other purposes. <<NOTE: Jan.
13, 2021 - [H.R. 2444]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <<NOTE: Eastern European
Security Act. 22 USC 2763 note.>>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Eastern European Security Act''.
SEC. 2. SENSE OF CONGRESS.
It is the sense of Congress that it is in the national security
interest of the United States to--
(1) deter aggression against North Atlantic Treaty
Organization (NATO) allies by Russia or any other adversary;
(2) assist NATO allies in acquiring and deploying modern,
NATO interoperable military equipment and reducing their
dependence on Russian or former Soviet-era defense articles;
(3) ensure that NATO allies meet alliance defense
commitments, including through adequate investments in national
defense;
(4) supplement existing grant assistance to key allies
through foreign military financing loans, at rates competitive
with those already available on commercial markets, to purchase
NATO-interoperable military equipment; and
(5) work to maintain and strengthen the democratic
institutions and practices of all NATO allies, in accordance
with the goals of Article 2 of the North Atlantic Treaty.
SEC. 3. FOREIGN MILITARY LOAN AUTHORITY.
(a) <<NOTE: Effective date. President.>> In General.--Beginning in
fiscal year 2021, subject to the notification requirements under
subsection (b) and to the availability of appropriations, the President,
acting through the Secretary of State, is authorized--
(1) to make direct loans under section 23 of the Arms Export
Control Act (22 U.S.C. 2763) to NATO member countries that
joined the alliance after March 1, 1999, notwithstanding the
minimum interest rate required by subsection (c)(1) of such
section; and
(2) to charge fees for such loans under paragraph (1), which
shall be collected from borrowers in accordance with section
502(7) of the Congressional Budget Act of 1974, and which may be
used to cover the costs of such loans as defined in section 502
of the Congressional Budget Act of 1974.
[[Page 134 STAT. 5112]]
(b) <<NOTE: Certification. Deadline.>> Notification.--A loan may
not be made under the authority provided by subsection (a) unless the
Secretary of State submits to the appropriate congressional committees a
certification, not fewer than fifteen days before entering into an
agreement to make such loan, that--
(1) the recipient country is making demonstrable progress
toward meeting its defense spending commitments in accordance
with the 2014 NATO Wales Summit Declaration; and
(2) the government of such recipient country is respecting
that country's constitution and upholds democratic values such
as freedom of religion, freedom of speech, freedom of the press,
the rule of law, and the rights of religious minorities.
(c) Repayment.--A loan made under the authority provided by
subsection (a) shall be repaid in not more than 12 years, but may
include a grace period of up to 1 year on the repayment of the
principal.
(d) Appropriate Congressional Committees Defined.--In this Act, the
term ``appropriate congressional committees'' means--
(1) the Committee on Foreign Affairs and the Committee on
Appropriations of the House of Representatives; and
(2) the Committee on Foreign Relations and the Committee on
Appropriations of the Senate.
Approved January 13, 2021.
LEGISLATIVE HISTORY--H.R. 2444:
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CONGRESSIONAL RECORD:
Vol. 166 (2020):
Mar. 9, considered and passed House.
Vol. 167 (2021):
Jan. 1, considered and passed
Senate.
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