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[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2506 Introduced in House (IH)]

108th CONGRESS
  1st Session
                                H. R. 2506

  To provide for the establishment of the Kosovar-American Enterprise 
  Fund to promote small business and microcredit lending and housing 
              construction and reconstruction for Kosova.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             June 18, 2003

Mr. Engel (for himself, Mrs. Kelly, Mr. Olver, Mr. Kirk, Mr. McGovern, 
and Mr. Towns) introduced the following bill; which was referred to the 
                  Committee on International Relations

_______________________________________________________________________

                                 A BILL

 
  To provide for the establishment of the Kosovar-American Enterprise 
  Fund to promote small business and microcredit lending and housing 
              construction and reconstruction for Kosova.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Kosovar-American Enterprise Fund Act 
of 2003''.

SEC. 2. KOSOVAR-AMERICAN ENTERPRISE FUND.

    Chapter 1 of part III of the Foreign Assistance Act of 1961 (22 
U.S.C. 2351 et seq.) is amended by inserting after section 601 the 
following new section:

``SEC. 601A. KOSOVAR-AMERICAN ENTERPRISE FUND.

    ``(a) Purpose.--The purpose of this section is to promote the 
development of small- and medium-sized businesses in Kosova through--
            ``(1) loans;
            ``(2) microcredit lending;
            ``(3) grants;
            ``(4) equity investments;
            ``(5) insurance; and
            ``(6) loan guarantees.
    ``(b) Designation of Enterprise Fund.--
            ``(1) Designation.--The President is authorized to 
        designate 1 private, nonprofit organization (to be known for 
        purposes of this section as the `Kosovar-American Enterprise 
        Fund') as eligible to receive funds and support under this 
        section upon a determination by the President that the 
        organization has been established for the purpose described in 
        subsection (a).
            ``(2) Consultation with congress.--Before designating an 
        organization under paragraph (1), the President shall consult 
        with--
                    ``(A) the majority leader and minority leader of 
                the Senate; and
                    ``(B) the Speaker and minority leader of the House 
                of Representatives.
            ``(3) Additional requirements.--Paragraphs (3) through (5) 
        of section 201(d) of the Support for East European Democracy 
        (SEED) Act of 1989 (22 U.S.C. 5421(d)) shall apply to the 
        Kosovar-American Enterprise Fund.
    ``(c) Grant to Enterprise Fund.--The Administrator of the United 
States Agency for International Development shall, from amounts 
appropriated under subsection (e), provide a grant to the Kosovar-
American Enterprise Fund, which shall be used to--
            ``(1) carry out the purpose described in subsection (a); 
        and
            ``(2) pay the administrative expenses of the fund.
    ``(d) Treatment Equivalent to Enterprise Funds for Poland and 
Hungary.--Except to the extent inconsistent with the provisions of this 
section, subsections (f) through (p) of section 201 of the Support for 
East European Democracy (SEED) Act of 1989 (22 U.S.C. 5421) shall apply 
to the Kosovar-American Enterprise Fund to the same extent and in the 
same manner as such subsections apply to the Polish-American Enterprise 
Fund and the Hungarian-American Enterprise Fund.
    ``(e) Authorization of Appropriations.--
            ``(1) In general.--There are authorized to be appropriated 
        to the President to carry out this section $30,000,000 for 
        fiscal year 2004.
            ``(2) Availability.--Amounts appropriated pursuant to 
        paragraph (1) shall remain available until expended.
            ``(3) Nonapplicability of other laws.--Notwithstanding any 
        other provision of law, amounts appropriated pursuant to 
        paragraph (1) may be expended by the Kosovar-American 
        Enterprise Fund for the purposes of this section .''.
                                 <all>
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