Better Utilization of Investments Leading to Development Act of 2018

Bill: 115-hr-5105
Sponsor: Rep. Yoho, Ted S. [R-FL-3]
Introduced: 2018-02-27 in the House
Policy area: International Affairs
Subjects: Business investment and capital
Congressional oversight
Economic development
Executive agency funding and structure
Financial services and investments
Foreign aid and international relief
Government corporations and government-sponsored enterprises
Government information and archives
Government lending and loan guarantees
Overseas Private Investment Corporation (OPIC)
Performance measurement
Public-private cooperation
Securities
Trade agreements and negotiations
U.S. Agency for International Development (USAID)
U.S. and foreign investments

Summary:
action_date: 2018-02-27
text: 

Better Utilization of Investments Leading to Development Act of 2018 or the BUILD Act of 2018

 
This bill establishes the United States International Development Finance Corporation to facilitate the participation of private sector capital and skills in the economic development of countries with low- or lower-middle-income economies and countries transitioning from nonmarket to market economies in order to complement U.S. assistance and foreign policy objectives. 
 
The corporation may: (1) make loans or loan guarantees, (2) as a minority investor acquire equity or financial interests in entities, (3) provide insurance or reinsurance to private sector entities and qualifying sovereign entities, (4) provide technical assistance, (5) administer special projects, (6) establish enterprise funds, (7) issue obligations, and (8) charge service fees.
 
The corporation shall terminate after seven years. 
 
The corporation shall not provide assistance to: (1) a country whose government has repeatedly supported acts of international terrorism, or (2) a private sector entity that is engaged in monopolistic practices.
 
The bill prescribes transitional provisions, including transferring to the corporation the functions, personnel, assets, and liabilities of the Overseas Private Investment Corporation (which is subsequently terminated) and specified elements of the U.S. Agency for International Development.


Legislative actions:
action_date: 2018-07-18
text: Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
action_date: 2018-07-17
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2018-07-17
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6320-6330)
action_date: 2018-07-17
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6320-6330)
action_date: 2018-07-17
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 5105.
action_date: 2018-07-17
text: Considered under suspension of the rules. (consideration: CR H6320-6333)
action_date: 2018-07-17
text: Mr. Royce (CA) moved to suspend the rules and pass the bill, as amended.
action_date: 2018-07-11
text: Placed on the Union Calendar, Calendar No. 631.
action_date: 2018-07-11
text: Reported (Amended) by the Committee on Foreign Affairs. H. Rept. 115-814.
action_date: 2018-07-11
text: Reported (Amended) by the Committee on Foreign Affairs. H. Rept. 115-814.
action_date: 2018-05-09
text: Committee Agreed to Seek Consideration Under Suspension of the Rules, by Unanimous Consent.
action_date: 2018-05-09
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2018-05-09
text: Committee Consideration and Mark-up Session Held.
action_date: 2018-02-27
text: Referred to the House Committee on Foreign Affairs.
action_date: 2018-02-27
text: Introduced in House
action_date: 2018-02-27
text: Introduced in House