HR 2798 RFS 
troller General of the United States shall prepare and sub-
mit to the Committee on Foreign Affairs of the House 
of Representatives and the Committee on Foreign Rela-
tions of the Senate an independent assessment of the in-
vestment fund portfolio of the Overseas Private Invest-
ment Corporation, covering the items required to be ad-
dressed under such section 239(l)(3). 
SEC. 14. EXTENSION OF AUTHORITY TO OPERATE IN IRAQ. 
Section 239 of the Foreign Assistance Act of 1961 
(22 U.S.C. 2199) is amended by adding at the end the 
following: 
‘‘(m) OPERATIONS IN IRAQ.—Notwithstanding sub-
sections (a) and (b) of section 237, the Corporation is au-
thorized to undertake in Iraq any program authorized by 
this title.’’. 
SEC. 15. CONSISTENCY WITH EXISTING LAW. 
Section 239 of the Foreign Assistance Act of 1961 
(22 U.S.C. 2199) is further amended by adding at the 
end the following: 
‘‘(n) CONSISTENCY WITH OTHER LAW.—Section 
620L of this Act shall apply to any insurance, reinsurance, 
guaranty, or other financing issued by the Corporation for 
projects in the West Bank and Gaza to the same extent 
as such section applies to other assistance under this Act. 
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‘‘(o) LIMITATION ON ASSISTANCE TO GAZA AND THE 
WEST BANK.—The Corporation may not provide insur-
ance, reinsurance, a guaranty, financing, or other assist-
ance to support a project in any part of Gaza or the West 
Bank unless the Secretary of State determines that the 
location for the project is not under the effective control 
of Hamas or any other foreign terrorist organization des-
ignated under section 219 of the Immigration and Nation-
ality Act (8 U.S.C. 1189).’’. 
SEC. 16. CONGRESSIONAL NOTIFICATION REGARDING MAX-
IMUM CONTINGENT LIABILITY. 
Section 239 of the Foreign Assistance Act of 1961 
(22 U.S.C. 2199) is further amended by adding at the 
end the following: 
‘‘(p) CONGRESSIONAL NOTIFICATION OF INCREASE 
IN MAXIMUM CONTINGENT LIABILITY.—The Corporation 
shall notify the Committee on Foreign Affairs of the 
House of Representatives and the Committee on Foreign 
Relations of the Senate not later than 15 days after the 
date on which the Corporation’s maximum contingent li-
ability outstanding at any one time pursuant to insurance 
issued under section 234(a), and the amount of financing 
issued under sections 234(b) and (c), exceeds the previous 
fiscal year’s maximum contingent liability by 25 percent.’’. 
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HR 2798 RFS 
SEC. 17. ASSISTANCE FOR SMALL BUSINESSES AND ENTI-
TIES. 
Section 240 of the Foreign Assistance Act of 1961 
(22 U.S.C. 2200) is amended by adding at the end the 
following: 
‘‘(c) RESOURCES
DEDICATED
TO
SMALL
BUSI-
NESSES, COOPERATIVES, AND OTHER SMALL UNITED 
STATES INVESTORS.—The Corporation shall ensure that 
adequate personnel and resources, including senior offi-
cers, are dedicated to assist United States small busi-
nesses, cooperatives, and other small United States inves-
tors in obtaining insurance, reinsurance, financing, and 
other support under this title. The Corporation shall in-
clude, in each annual report under section 240A, the fol-
lowing information with respect to the period covered by 
the report: 
‘‘(1) A description of such personnel and re-
sources. 
‘‘(2) The number of small businesses, coopera-
tives, and other small United States investors that 
received such insurance, reinsurance, financing, and 
other support, and the dollar value of such insur-
ance, reinsurance, financing and other support. 
‘‘(3) A description of the projects for which 
such insurance, reinsurance, financing, and other 
support was provided.’’. 
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HR 2798 RFS 
SEC. 18. TECHNICAL CORRECTIONS. 
(a) PILOT EQUITY FINANCE PROGRAM.—Section 234 
of the Foreign Assistance Act of 1961 (22 U.S.C. 2194) 
is amended— 
(1) by striking subsection (g); and 
(2) by redesignating subsection (h) as sub-
section (g). 
(b) TRANSFER AUTHORITY.—Section 235 of the For-
eign Assistance Act of 1961 (22 U.S.C. 2195) is amend-
ed— 
(1) by striking subsection (e); and 
(2) by redesignating subsection (f) as sub-
section (e). 
(c) GUARANTY CONTRACT.—Section 237(j) of the 
Foreign Assistance Act of 1961 (22 U.S.C. 2197(j)) is 
amended by inserting ‘‘insurance, reinsurance, and’’ after 
‘‘Each’’. 
(d) TRANSFER OF PREDECESSOR PROGRAMS AND 
AUTHORITIES.— 
(1) TRANSFER.—Section 239 of the Foreign 
Assistance Act of 1961 (22 U.S.C. 2199), as amend-
ed by the preceding provisions of this Act, is amend-
ed— 
(A) by striking subsection (b); and 
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(B) by redesignating the subsections (c) 
through (p) as subsections (b) through (o), re-
spectively. 
(2) CONFORMING AMENDMENTS.—(A) Section 
237(m)(1) of the Foreign Assistance Act of 1961 
(22 U.S.C. 2197(m)(1)) is amended by striking 
‘‘239(g)’’ and inserting ‘‘239(f)’’. 
(B) Section 240A(a) of the Foreign Assistance 
Act of 1961 (22 U.S.C. 2200A(a)) is amended— 
(i) in paragraph (1), by striking ‘‘239(h)’’ 
and inserting ‘‘239(g)’’; and 
(ii) in paragraph (2)(A), by striking 
‘‘239(i)’’ and inserting ‘‘239(h)’’. 
(C) Section 209(e)(16) of the Admiral James 
W. Nance and Meg Donovan Foreign Relations Au-
thorization Act, Fiscal Years 2000 and 2001 (as en-
acted into law by section 1000(a)(7) of Public Law 
106–113; 31 U.S.C. 1113 note) is amended by strik-
ing ‘‘239(c)’’ and ‘‘2199(c)’’ and inserting ‘‘239(b)’’ 
and ‘‘2199(b)’’, respectively. 
(e) ADDITIONAL CLERICAL AMENDMENTS.—Section 
234(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 
2194(b)) is amended by striking ‘‘235(a)(2)’’ and insert-
ing ‘‘235(a)(1)’’. 
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SEC. 19. EFFECTIVE DATE. 
(a) NEW APPLICATIONS.—This Act and the amend-
ments made by this Act shall apply with respect to any 
application for insurance, reinsurance, a guaranty, financ-
ing, or other support under title IV of chapter 2 of part 
I of the Foreign Assistance Act of 1961 if the application 
is received by the Overseas Private Investment Corpora-
tion on or after July 1, 2007, and the application is ap-
proved by the Corporation on or after the date of the en-
actment of this Act. 
(b) EXTENSIONS AND RENEWALS.— 
(1) IN GENERAL.—Subject to paragraph (2), 
this Act and the amendments made by this Act shall 
apply with respect to any extension or renewal of a 
contract or agreement for any such insurance, rein-
surance, guaranty, financing, or support that was 
entered into by the Corporation before the date of 
the enactment of this Act if the extension or renewal 
is approved by the Corporation on or after such date 
of enactment. 
(2) EXCEPTION.—This Act and the amend-
ments made by this Act shall not apply to any exten-
sion or renewal which is substantially identical to an 
extension or renewal formally requested in a detailed 
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writing filed with the Corporation before July 1, 
2007. 
Passed the House of Representatives July 23, 2007. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
By DEBORAH M. SPRIGGS, 
Deputy Clerk. 
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