A bill to promote the strengthening of the private sector in Egypt and Tunisia.

Bill: 112-s-618
Sponsor: Sen. Kerry, John F. [D-MA]
Introduced: 2011-03-17 in the Senate
Policy area: International Affairs
Subjects: Africa
Budget deficits and national debt
Business investment and capital
Congressional oversight
Economic development
Egypt
Foreign aid and international relief
Fraud offenses and financial crimes
Middle East
Sovereignty, recognition, national governance and status
Terrorism
Tunisia

Summary:
action_date: 2011-03-17
text: 
Egyptian-American Enterprise Fund Act - Authorizes the President to establish or designate a private, nonprofit organization (the Egyptian-American Enterprise Fund) to promote: (1) the Egyptian private sector and joint U.S.-Egyptain ventures, (2) good corporate governance and transparency in Egypt, and (3) security through job creation and the creation of an Egyptian middle class.
 
 
Tunisian-American Enterprise Fund Act - Authorizes the President to establish or designate a private, nonprofit organization (the Tunisian-American Enterprise Fund) to promote: (1) the Tunisian private sector and U.S.-Tunisian joint ventures, (2) good corporate governance and transparency in Tunisia, and (3) security through job creation and the creation of a Tunisian middle class.
 
Authorizes the President to make grants to carry out a Fund's purposes provided that the Fund agrees to: (1) liquidate its assets and dissolve not later than December 31, 2021, unless the Secretary of State determines that the Fund should be extended; (2) ensure that grant funds are not provided to or through any individual, private or government entity, or educational institution that advocates, or engages or has engaged in money laundering or terrorist activity; or (3) return any remaining funds to the the U.S. Treasury to be used to reduce U.S. debt.

action_date: 2011-06-22
text: 

Title I: Egyptian-American Enterprise Fund
 - Egyptian-American Enterprise Fund Act - Authorizes the President to establish or designate a private, nonprofit organization (the Egyptian-American Enterprise Fund) to promote: (1) the Egyptian private sector and joint U.S.-Egyptain ventures, (2) good corporate governance and transparency in Egypt, and (3) security through job creation and the creation of an Egyptian middle class.
 

Title II: Tunisian-American Enterprise Fund
 - Tunisian-American Enterprise Fund Act - Authorizes the President to establish or designate a private, nonprofit organization (the Tunisian-American Enterprise Fund) to promote: (1) the Tunisian private sector and U.S.-Tunisian joint ventures, (2) good corporate governance and transparency in Tunisia, and (3) security through job creation and the creation of a Tunisian middle class.
 
Authorizes the President to make grants to carry out a Fund's purposes provided that the Fund agrees to: (1) end its reinvestment cycle not later than December 31, 2021, unless the Secretary of State determines that the Fund should be extended; (2) ensure that grant funds are not provided to or through any individual, private or government entity, or educational institution that advocates, or engages or has engaged in money laundering or terrorist activity; or (3) return any remaining funds to the the U.S. Treasury to be used to reduce U.S. debt.
 
Sets forth reporting requirements.
 
 States that the Funds' Boards 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.


Legislative actions:
action_date: 2011-06-22
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 79.
action_date: 2011-06-22
text: Committee on Foreign Relations. Reported by Senator Kerry with an amendment in the nature of a substitute. With written report No. 112-25.
action_date: 2011-06-22
text: Committee on Foreign Relations. Reported by Senator Kerry with an amendment in the nature of a substitute. With written report No. 112-25.
action_date: 2011-05-17
text: Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2011-03-17
text: Read twice and referred to the Committee on Foreign Relations.
action_date: 2011-03-17
text: Introduced in Senate