Haitian-American Enterprise Fund Act

Bill: 112-s-954
Sponsor: Sen. Lugar, Richard G. [R-IN]
Introduced: 2011-05-11 in the Senate
Policy area: International Affairs
Subjects: Agricultural trade
Business investment and capital
Caribbean area
Congressional oversight
Foreign aid and international relief
Foreign loans and debt
Fraud offenses and financial crimes
Haiti
Latin America
Small business
Social work, volunteer service, charitable organizations
Terrorism

Summary:
action_date: 2011-05-11
text: 
Haitian-American Enterprise Fund Act - Authorizes the President, after congressional consultation, to designate a private, nonprofit organization as the Haitian-American Enterprise Fund to receive financial assistance and support under this Act. 
 
 
 States that a grant agreement between the United States Agency for International Development (USAID) and the Fund shall: (1) require the Fund to end its reinvestment cycle not later than December 31, 2021, unless extended by USAID; (2) provide for the prevention of money laundering and terrorist financing; and (3) require any remaining Fund assets to be returned to the Treasury for debt reduction purposes.
 
States that the Fund's Board of Directors should adopt the best practices and procedures used by Enterprise Funds, including those for which funding has been made available pursuant to the Support for East European Democracy (SEED) Act of 1989. 

action_date: 2011-08-30
text: 

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

 
Haitian-American Enterprise Fund Act - Authorizes the President, after congressional consultation, to designate a private, nonprofit organization as the Haitian-American Enterprise Fund to receive financial assistance and support under this Act. 
 
States that a grant agreement between the United States Agency for International Development (USAID) and the Fund shall: (1) require the Fund to end its reinvestment cycle not later than December 31, 2021, unless extended by USAID; (2) provide for the prevention of money laundering and terrorist financing; and (3) require any remaining Fund assets to be returned to the Treasury for debt reduction purposes.
 
States that the Fund's Board of Directors should adopt the best practices and procedures used by Enterprise Funds, including those for which funding has been made available pursuant to the Support for East European Democracy (SEED) Act of 1989. 
 
Authorizes appropriations.


Legislative actions:
action_date: 2011-08-30
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 147.
action_date: 2011-08-30
text: Committee on Foreign Relations. Reported by Senator Kerry under authority of the order of the Senate of 08/02/2011 without amendment. With written report No. 112-67.
action_date: 2011-08-30
text: Committee on Foreign Relations. Reported by Senator Kerry under authority of the order of the Senate of 08/02/2011 without amendment. With written report No. 112-67.
action_date: 2011-05-17
text: Committee on Foreign Relations. Ordered to be reported without amendment favorably.
action_date: 2011-05-11
text: Read twice and referred to the Committee on Foreign Relations.
action_date: 2011-05-11
text: Sponsor introductory remarks on measure. (CR S2889)
action_date: 2011-05-11
text: Introduced in Senate