I
104TH CONGRESS
2D SESSION
H. R. 2844
To amend the Foreign Assistance Act of 1961 to authorize the President
to issue loan guarantees for economic development and job creation
activities in the Republic of Ireland and Northern Ireland.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 4, 1996
Mrs. MALONEY (for herself, Mr. KING, and Mr. MANTON) introduced the
following bill; which was referred to the Committee on International Relations
A BILL
To amend the Foreign Assistance Act of 1961 to authorize
the President to issue loan guarantees for economic de-
velopment and job creation activities in the Republic
of Ireland and Northern Ireland.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. LOAN GUARANTEES TO IRELAND PROGRAM.
The Foreign Assistance Act of 1961 is amended by
inserting after section 226 the following:
‘‘SEC. 227. LOAN GUARANTEES TO IRELAND PROGRAM.
‘‘(a) AUTHORIZATION.—During the period beginning
on October 1, 1996, and ending on September 30, 2001,
the President is authorized to issue guarantees assuring
against losses incurred in connection with loans to Ireland
and to the United Kingdom to promote economic develop-
ment and job creation activities in the Republic of Ireland,
especially in, but not limited to, the 6 border counties of
the Republic of Ireland, and in the 6 counties of Northern
Ireland.
‘‘(b) AMOUNT OF GUARANTEES.—
‘‘(1) IN GENERAL.—Except as provided in para-
graph (2), the total principal amount of guarantees
which may be issued by the President under sub-
section (a) shall be up to $1,000,000,000, which
may be issued as follows:
‘‘(A) 
In 
fiscal 
year 
1997, 
up 
to
$200,000,000 may be issued on October 1,
1996 or thereafter.
‘‘(B) In each of the fiscal years 1998
through 2001, up to $200,000,000 in each such
fiscal year may be issued on October 1 of each
such fiscal year or thereafter.
‘‘(2) EXCEPTION.—If less than the full amount
of guarantees authorized to be made available in a
fiscal year pursuant to paragraph (1) is issued dur-
ing that fiscal year, the authority to issue the bal-
ance of such guarantees shall be available to any
subsequent fiscal year ending on or before Septem-
ber 30, 2002.
‘‘(c) NOTIFICATION OF CONGRESS.—
‘‘(1) IN GENERAL.—Not later than September
1 of each fiscal year during the period in which the
President is authorized to issue guarantees under
subsection (a), the President shall notify the appro-
priate congressional committees in writing of the in-
tentions of the President regarding the exercise of
that authority for the fiscal year beginning on Octo-
ber 1 of that year, including a statement of the total
principal amount of guarantees, if any, that the
President proposes to issue for that fiscal year.
‘‘(2) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES DEFINED.—For purposes of this subsection,
the term ‘appropriate congressional committees’
means—
‘‘(A) the Committee on Appropriations and
the Committee on Foreign Relations of the Sen-
ate; and
‘‘(B) the Committee on Appropriations and
the Committee on International Relations of the
House of Representatives.
‘‘(d) TERMS AND CONDITIONS.—
‘‘(1) IN GENERAL.—Except as provided in para-
graph (2), the President shall determine the terms
and conditions for issuing guarantees under this sec-
tion.
‘‘(2) ADDITIONAL TERMS AND CONDITIONS.—
The following terms and conditions shall apply to
guarantees issued under this section in the same
manner as such terms and conditions apply to guar-
antees issued under section 226 (relating to the loan
guarantees to Israel program):
‘‘(A) The limitation on the amount of
guarantees under section 226(d).
‘‘(B) The requirements relating to fees
under—
‘‘(i) the first, second, third, and fifth
sentences of paragraph (1) of section
226(e); and
‘‘(ii) paragraph (2) of section 226(e).
‘‘(C) The authority to suspend or termi-
nate the provision of all or part of additional
loan guarantees under section 226(f).
‘‘(D) Procedures for the suspension or ter-
mination of the provision of all or part of addi-
tional loan guarantees under section 226(g).
‘‘(E) The applicability of certain provisions
under section 223, as described under section
226(l).
‘‘(F) The amount and other terms of guar-
antees described under section 226(m).
‘‘(e) REPORTS.—Not later than December 31 of each
fiscal year during the period in which the President is au-
thorized to issue guarantees under subsection (a), and not
later than December 31 of each of the fiscal years 2002
and 2003, the President shall prepare and transmit to the
Congress a report regarding the implementation of this
section.’’.
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