611 
(4) acquire, hold, or dispose of, upon such 
terms and conditions as the Corporation may deter-
mine, any property, real, personal, or mixed, tan-
gible or intangible, or any interest therein; 
(5) invest funds derived from fees and other 
revenues in obligations of the United States and use 
the proceeds therefrom, including earnings and prof-
its, as it considers appropriate; 
(6) indemnify directors, officers, employees, and 
agents of the Corporation for liabilities and expenses 
incurred in connection with their Corporation activi-
ties; 
(7) require bonds of officers, employees, and 
agents and pay the premiums therefor; 
(8) notwithstanding any other provision of law, 
represent itself or contract for representation in all 
legal and arbitral proceedings; 
(9) enter into limited-term contracts with na-
tionals of the United States for personal services to 
carry out activities in the United States and abroad 
under subsections (d) and (e) of section 7105; 
(10) purchase, discount, rediscount, sell, and 
negotiate, with or without its endorsement or guar-
anty, and guarantee notes, participation certificates, 
and other evidence of indebtedness (except that the 
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612 
Corporation may not issue its own securities, except 
participation certificates for the purpose of carrying 
out section 7101(b)(2)(C) or participation certifi-
cates as evidence of indebtedness held by the Cor-
poration in connection with settlement of claims 
under section 7108(i)); 
(11) make and carry out such contracts and 
agreements as are necessary and advisable in the 
conduct of its business; 
(12) exercise the priority of the United States 
Government in collecting debts from bankrupt, insol-
vent, or decedents’ estates; 
(13) determine the character of and the neces-
sity for its obligations and expenditures, and the 
manner in which they shall be incurred, allowed, and 
paid, subject to provisions of law specifically applica-
ble to Government corporations; 
(14) collect or compromise any obligations as-
signed to or held by the Corporation, including any 
legal or equitable rights accruing to the Corporation; 
and 
(15) take such actions as may be necessary or 
appropriate to carry out its powers. 
(d) DEVELOPMENT IMPACT PROFILES.—In order to 
carry out the purpose set forth in section 7101, the Cor-
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613 
poration shall prepare and maintain for each investment 
project it insures, finances, or reinsures, a development 
impact profile consisting of data appropriate to measure 
the projected and actual effects of such project on develop-
ment. Criteria for evaluating projects shall be developed 
in consultation with the United States Agency for Inter-
national Development. 
(e) HUMAN RIGHTS.—The Corporation shall take 
into account in the conduct of its programs in a country, 
in consultation with the Secretary of State, all available 
information about observance of and respect for human 
rights and fundamental freedoms in such country and the 
effect the operation of such programs will have on human 
rights and fundamental freedoms in such country. 
(f) TAXATION.—The Corporation, including its fran-
chise, capital, reserves, surplus, advances, intangible prop-
erty, and income, shall be exempt from all taxation at any 
time imposed by the United States, by any territory, de-
pendency, or possession of the United States, or by any 
State, the District of Columbia, or any county, munici-
pality, or local taxing authority. 
(g) PUBLICATION
OF POLICY GUIDELINES.—The 
Corporation shall publish, and make available to appli-
cants for insurance, reinsurance, guaranties, financing, or 
other assistance made available by the Corporation under 
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614 
this subtitle, the policy guidelines of the Corporation relat-
ing to its programs. 
SEC. 7110. REPORTS TO THE CONGRESS. 
(a) ANNUAL REPORT.—Not later than 3 months 
after the end of each fiscal year, the Corporation shall sub-
mit to the Congress a complete and detailed report of its 
operations during such fiscal year. Such report shall in-
clude— 
(1) an assessment, based upon the development 
impact profiles required by section 7109(d), of the 
economic and social development impact and benefits 
of the projects with respect to which such profiles 
are prepared, and of the extent to which the oper-
ations of the Corporation complement or are com-
patible with the development assistance programs of 
the United States and other donors; and 
(2) a description of any project for which the 
Corporation— 
(A) refused to provide any insurance, rein-
surance, guaranty, financing, or other financial 
support, on account of information received 
under section 7109(e); or 
(B) notwithstanding such violations, pro-
vided such insurance, reinsurance, guaranty, fi-
nancing, or financial support, on the basis of a 
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615 
determination that the national security interest 
so requires. 
(b) PROJECTIONS ON U.S. EMPLOYMENT.— 
(1) IN ANNUAL REPORTS.—Each annual report 
required by subsection (a) shall contain projections 
of the effects on employment in the United States 
of all projects for which, during the preceding fiscal 
year, the Corporation initially issued any insurance, 
reinsurance, or guaranty or made any direct loan. 
Each such report shall include projections of— 
(A) the amount of United States exports to 
be generated by those projects, both during the 
startup phase and over a period of years; 
(B) the final destination of the products to 
be produced as a result of those projects; and 
(C) the impact such production will have 
on the production of similar products in the 
United States with regard to both domestic 
sales and exports. 
(2) ANALYSIS OF EACH PROJECT REQUIRED.— 
The projections required by this subsection shall be 
based on an analysis of each of the projects de-
scribed in paragraph (1). 
(3) INFORMATION TO BE INCLUDED.— 
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616 
(A) IN GENERAL.—In reporting the projec-
tions on employment required by this sub-
section, the Corporation shall specify, with re-
spect to each project— 
(i) any loss of jobs in the United 
States caused by the project, whether or 
not the project itself creates other jobs; 
(ii) any jobs created by the project; 
and 
(iii) the country in which the project 
is located, and the economic sector involved 
in the project. 
(B) PROTECTION OF PROPRIETARY INFOR-
MATION.—No proprietary information may be 
disclosed under subparagraph (A). 
(c) RECORDS TO BE MAINTAINED
BY CORPORA-
TION.—The Corporation shall maintain as part of its 
records a copy of the analysis done of each project in pre-
paring the reports required by subsection (b). 
(d) PROTECTION
OF
CONFIDENTIAL
INFORMA-
TION.—Subsection (b) does not require the inclusion in 
any report submitted pursuant to that subsection of any 
information that would not be required to be made avail-
able to the public pursuant to section 552 of title 5, 
United States Code (relating to freedom of information). 
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617 
SEC. 7111. DEFINITIONS. 
In this subtitle: 
(1) ELIGIBLE
INVESTOR.—The term ‘‘eligible 
investor’’ means— 
(A) a United States citizen; and 
(B) a corporation, partnership, or other as-
sociation, including a nonprofit association, that 
is created under the laws of the United States, 
any State or territory thereof, or the District of 
Columbia. 
(2) EXPROPRIATION.—The term ‘‘expropria-
tion’’ includes any abrogation, repudiation, or im-
pairment by a foreign government, a political sub-
division of a foreign government, or a corporation 
owned or controlled by a foreign government, of its 
own contract with an investor with respect to a 
project, if such abrogation, repudiation, or impair-
ment is not caused by the investor’s own fault or 
misconduct, and materially adversely affects the con-
tinued operation of the project. 
(3) INVESTMENT.—The term ‘‘investment’’ in-
cludes any contribution or commitment of funds, 
commodities, services, patents, processes, or tech-
niques, in the form of— 
(A) a loan or loans to an approved project; 
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618 
(B) the purchase of a share of ownership 
in any such project; 
(C) participation in royalties, earnings, or 
profits of any such project; and 
(D) the furnishing of commodities or serv-
ices pursuant to a lease or other contract. 
(4) LOCAL FINANCIAL INSTITUTION.—The term 
‘‘local financial institution’’— 
(A) means any bank or financial institu-
tion that is organized under the laws of any 
country or area in which the Corporation oper-
ates; but 
(B) does not include a branch, however or-
ganized, of a bank or other financial institution 
that is organized under the laws of a country 
in which the Corporation does not operate. 
(5) NONCREDIT ACCOUNT REVOLVING FUND.— 
The term ‘‘noncredit account revolving fund’’ means 
the noncredit account revolving fund established 
under section 7106(b). 
(6) NONCREDIT ACTIVITIES.—The term ‘‘non-
credit activities’’ means all activities of the Corpora-
tion other than its loan guaranty program under 
section 7105(b) and its direct loan program under 
section 7105(c). 
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619 
(7) PREDECESSOR
GUARANTY
AUTHORITY.— 
The term ‘‘predecessor guaranty authority’’ means 
prior guaranty authorities (other than housing guar-
anty authorities) repealed by the Foreign Assistance 
Act of 1969, section 202(b) and 413(b) of the Mu-
tual Security Act of 1954, section 111(b)(3) of the 
Economic Cooperation Act of 1948 (exclusive of au-
thority relating to informational media guaranties), 
and authorities of the Corporation under title IV of 
chapter 2 of part I of the Foreign Assistance Act of 
1961. 
(8) 
UNITED
STATES
PERSON.—The 
term 
‘‘United States person’’ means— 
(A) a United States citizen or national; 
and 
(B) any other entity that qualifies as an el-
igible investor. 
Subtitle B—United States Trade 
and Development Agency 
SEC. 7201. UNITED STATES TRADE AND DEVELOPMENT 
AGENCY. 
(a) PURPOSE.—The United States Trade and Devel-
opment Agency (in this subtitle referred to as the ‘‘Agen-
cy’’) shall be an agency of the United States under the 
policy guidance of the Secretary of State and the Inter-
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620 
agency Policy Committee on Global Development. The pri-
mary purpose of the Agency is to facilitate United States 
private sector participation in development projects in de-
veloping countries, consistent with Country Development 
Cooperation Strategies prepared under section 1018. The 
Agency may also utilize its authorities and programs in 
other countries in furtherance of United States foreign 
policy and economic interests. 
(b) AUTHORITY TO PROVIDE ASSISTANCE.— 
(1) AUTHORITY.—The Director of the Agency 
may, under the direction of the Secretary of State 
and the Interagency Policy Committee on Global De-
velopment, carry out this subtitle by providing funds 
for technical assistance, feasibility studies, architec-
tural and engineering design, and other activities re-
lated to the goals of the United States to attract and 
retain private sector investment in countries that are 
receiving United States development assistance 
under this Act and to promote exports of United 
States-origin goods and services. 
(2) USE OF FUNDS.—Funds under this section 
may be used to provide support for feasibility studies 
for the planning, development, and management of, 
and procurement for, bilateral and multilateral de-
velopment projects, including training activities un-
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