North American Development Bank General Capital Increase Authorization Act of 2016

Bill: 114-hr-4834
Sponsor: full_name: Rep. Hinojosa, Ruben [D-TX-15]
Introduced: 2016-03-22
Policy area: Foreign Trade and International Finance
Subjects: Foreign loans and debt

Latin America

Mexico

Multilateral development programs

North America
Latest action: action_date: 2016-03-22
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2016-03-22
action_desc: Introduced in House
text: <p><strong>North American Development Bank General Capital Increase Authorization Act of 2016</strong></p> <p>This bill: (1) authorizes the Department of the Treasury to subscribe on behalf of the United States to 150,000 additional shares of the capital stock of the North American Development Bank, and (2) authorizes appropriations for such shares.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 4834 IN THE HOUSE OF REPRESENTATIVES March 22, 2016 Mr. Hinojosa (for himself, Mr. Vela , Mr. Cuellar , Mr. O’Rourke , Mr. Grijalva , Ms. Maxine Waters of California , and Ms. Moore ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To authorize United States participation in a general capital increase for the North American Development Bank.

1. Short title This Act may be cited as the North American Development Bank General Capital Increase Authorization Act of 2016 . 2. General capital increase Part 2 of subtitle D of title V of Public Law 103–182 (22 U.S.C. 290m–290m–5) is amended by adding at the end the following: 547. First capital increase (a) Subscription authorized (1) In general The Secretary of the Treasury may subscribe on behalf of the United States to 150,000 additional shares of the capital stock of the Bank. (2) Limitation Any subscription by the United States to the capital stock of the Bank shall be effective only to such extent and in such amounts as are provided in advance in appropriations Acts. (b) Limitations on authorization of appropriations In order to pay for the increase in the United States subscription to the Bank under subsection (a), there are authorized to be appropriated, without fiscal year limitation, $1,500,000,000 for payment by the Secretary of the Treasury, of which— (1) $225,000,000 shall be for paid-in shares of the Bank; and (2) $1,275,000,000 shall be for callable shares of the Bank. .