IB 
Union Calendar No. 198
108TH CONGRESS 
1ST SESSION H. R. 3145
[Report No. 108–339] 
To amend the Foreign Assistance Act of 1961 to reauthorize the Overseas 
Private Investment Corporation, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 23, 2003
Mr. HYDE (for himself and Mr. LANTOS) introduced the following bill; which 
was referred to the Committee on International Relations 
NOVEMBER 4, 2003
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on September 23, 2003] 
A BILL 
To amend the Foreign Assistance Act of 1961 to reauthorize 
the Overseas Private Investment Corporation, and for 
other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Overseas Private Invest-
ment Corporation Amendments Act of 2003’’. 
SEC. 2. ISSUING AUTHORITY. 
Section 235(a)(2) of the Foreign Assistance Act of 1961 
(22 U.S.C. 2195(a)(2)) is amended by striking ‘‘November 
1, 2000’’ and inserting ‘‘2007’’. 
SEC. 3. TECHNICAL CORRECTIONS. 
(a) ADMINISTRATIVE COSTS.—Section 235(a)(1)(B) of 
the 
Foreign 
Assistance 
Act 
of 
1961 
(22 
U.S.C. 
2195(a)(1)(B)) is amended by striking ‘‘subsidy cost’’ and 
inserting ‘‘subsidy and administrative costs’’. 
(b) NONCREDIT ACCOUNT REVOLVING FUND.—Section 
235(c) of the Foreign Assistance Act of 1961 (22 U.S.C. 
2195(c)) is amended—
(1) in the first sentence—
(A) by striking ‘‘an insurance and guar-
anty fund, which shall have separate accounts to 
be known as the Insurance Reserve and the 
Guaranty Reserve, which reserves’’ and inserting 
‘‘a noncredit account revolving fund, which’’; 
and 
(B) by striking ‘‘such reserves have’’ and in-
serting ‘‘of the fund has’’; 
(2) by striking the third sentence; and
(3) in the last sentence, by striking ‘‘reserves’’ 
and inserting ‘‘fund’’. 
(c) PAYMENTS TO DISCHARGE LIABILITIES.—Section 
235(d) of the Foreign Assistance Act of 1961 (22 U.S.C. 
2195(d)) is amended—
(1) in the first sentence, by striking ‘‘Insurance 
Reserve, as long as such reserve’’ and inserting ‘‘non-
credit account revolving fund, as long as such fund’’; 
and 
(2) in the second sentence, by striking ‘‘or under 
similar predecessor guaranty authority’’ and all that 
follows through ‘‘subsection (f) of this section’’ and in-
serting ‘‘or 234(c) shall be paid in accordance with 
the Federal Credit Reform Act of 1990’’. 
(d) AUTHORIZATION
OF APPROPRIATIONS.—Section 
235(f) of the Foreign Assistance Act of 1961 (22 U.S.C. 
2195(f)) is amended—
(1) in the first sentence, by striking ‘‘insurance 
and guaranty fund’’ and inserting ‘‘noncredit account 
revolving fund’’; and 
(2) by striking ‘‘Insurance Reserve’’ each place it 
appears and inserting ‘‘noncredit account revolving 
fund’’.
(e) BOARD OF DIRECTORS.—Section 233(b) of the For-
eign Assistance Act of 1961 (22 U.S.C. 2193(b)) is amended 
in the second paragraph—
(1) by striking ‘‘officials’’ and inserting ‘‘prin-
cipal officers’’; 
(2) by inserting ‘‘whose duties relate to the pro-
grams of the Corporation’’ after ‘‘Government of the 
United States’’; and 
(3) by striking ‘‘an official’’ and inserting ‘‘one 
such officer’’. 
SEC. 4. INVESTMENT INSURANCE. 
(a) 
EXPROPRIATION
OR
CONFISCATION.—Section 
234(a)(1)(B) of the Foreign Assistance Act of 1961 (22 
U.S.C. 2194(a)(1)(B)) is amended by inserting ‘‘or any po-
litical subdivision thereof’’ after ‘‘government’’. 
(b) DEFINITION OF EXPROPRIATION.—Section 238(b) 
of the Foreign Assistance Act of 1961 (22 U.S.C. 2198(b)) 
is amended by inserting ‘‘, a political subdivision of a for-
eign government, or a corporation owned or controlled by 
a foreign government,’’ after ‘‘government’’. 
SEC. 5. LOCAL CURRENCY GUARANTY. 
(a) LOCAL CURRENCY GUARANTY.—Section 234 of the 
Foreign Assistance Act of 1961 (22 U.S.C. 2194) is amend-
ed by adding at the end the following:
‘‘(h) LOCAL CURRENCY GUARANTIES FOR ELIGIBLE 
INVESTORS.—To issue to—
‘‘(1) eligible investors, or 
‘‘(2) local financial institutions, 
guaranties, denominated in currencies other than United 
States dollars, of loans and other investments made to 
projects sponsored by or significantly involving eligible in-
vestors, assuring against loss due to such risks and upon 
such terms and conditions as the Corporation may deter-
mine, for projects that the Corporation determines to have 
significant developmental effects or as the Corporation de-
termines to be necessary or appropriate to carry out the 
purposes of this title.’’. 
(b) DEFINITION OF LOCAL FINANCIAL INSTITUTION.—
Section 238 of the Foreign Assistance Act of 1961 (22 
U.S.C. 2198) is amended—
(1) in subsection (d), by striking ‘‘and’’ after the 
semicolon; 
(2) in subsection (f), by striking the period at the 
end and inserting ‘‘; and’’; and 
(3) by adding at the end the following: 
‘‘(g) the term ‘local financial institution’—
‘‘(1) 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 
‘‘(2) 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.’’. 
SEC. 6. OUTREACH TO MINORITY- AND WOMEN-OWNED 
BUSINESSES. 
(a) IN GENERAL.—Section 240 of the Foreign Assist-
ance Act of 1961 (22 U.S.C. 2200) is amended—
(1) in the first sentence, by striking ‘‘The Cor-
poration’’ and inserting 
‘‘(a) IN GENERAL.—The Corporation’’; and 
(2) by adding at the end the following: 
‘‘(b) OUTREACH TO MINORITY-OWNED AND WOMEN-
OWNED BUSINESSES.—The Corporation shall collect data 
on the involvement of minority- and women-owned busi-
nesses in projects supported by the Corporation, includ-
ing—
‘‘(1) the amount of insurance and financing pro-
vided by the Corporation to such businesses in connec-
tion with projects supported by the Corporation; and 
‘‘(2) to the extent such information is available, 
the involvement of such businesses in procurement ac-
tivities conducted or supported by the Corporation.
Union Calendar No. 198
108TH CONGRESS 
1ST SESSION 
H. R. 3145
[Report No. 108–339] 
A BILL 
To amend the Foreign Assistance Act of 1961 to 
reauthorize the Overseas Private Investment Cor-
poration, and for other purposes. 
NOVEMBER 4, 2003
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed