North American Development Bank Improvement and General Capital Increase Authorization Act of 2017

Bill: 115-hr-882
Sponsor: full_name: Rep. Cuellar, Henry [D-TX-28]
Introduced: 2017-02-06
Policy area: International Affairs
Subjects: Air quality

Congressional oversight

Energy storage, supplies, demand

Foreign loans and debt

Latin America

Mexico

Motor vehicles

Multilateral development programs

North America

Oil and gas

Performance measurement

Pipelines

Roads and highways
Latest action: action_date: 2017-02-06
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2017-02-06
action_desc: Introduced in House
text: <p><b>North American Development Bank Improvement and General Capital Increase Authorization Act of 2017</b></p> <p>This bill authorizes the Department of the Treasury to subscribe to 150,000 additional shares of the capital stock of the North American Development Bank.</p> <p>The U.S. government shall support the financing of projects related to:</p> <ul> <li>natural gas, including natural gas pipelines and combined cycle power plants, with major emphasis on cross-border energy distribution and consumption and the energy security of the United States and Mexico; and</li> <li>the expansion or new construction of international land border crossings to facilitate the the flow of goods and people across the U.S.-Mexico border while reducing wait times and improving air quality related to vehicular and commercial traffic pollution.</li> </ul> <p>The U.S. government shall also require the bank to develop and implement:</p> <ul> <li> efficiency improvements to streamline and accelerate the bank's project certification and financing process, and </li> <li>performance measures that demonstrate how the bank's approved projects and financing are meeting its mission and providing value to the U.S.- Mexico border region.</li> </ul>

tv_txt: I 115th CONGRESS 1st Session H. R. 882 IN THE HOUSE OF REPRESENTATIVES February 6, 2017 Mr. Cuellar (for himself, Mr. Hurd , Mr. Gene Green of Texas , Mr. Doggett , Mr. Gonzalez of Texas , Mr. Al Green of Texas , Mr. O'Rourke , and Mr. Vela ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To provide for a general capital increase for the North American Development Bank, and for other purposes.

1. Short title This Act may be cited as the North American Development Bank Improvement and General Capital Increase Authorization Act of 2017 . 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. . 3. Policy goals In addition to the North American Development Bank’s current mission and scope, the United States Government, in connection with its voice and vote in the Bank, shall support the financing of projects related to— (1) natural gas, including natural gas pipelines and combined cycle power plants, with major emphasis on cross-border energy distribution and consumption and the energy security of the United States and Mexico; and (2) the expansion or new construction of international land border crossings to help facilitate the flow of goods and people across the United States-Mexico border while reducing border wait times and improving air quality related to the vehicular and commercial traffic pollution. 4. Efficiencies and streamlining The United States Government, in connection with its voice and vote in the North American Development Bank, shall require the Bank to develop and implement efficiency improvements to streamline and accelerate the project certification and financing process, including support for initiatives such as single certifications for revolving facilities, programmatic certification of similar groups of small projects, expansion of internal authority to approve qualified projects below certain monetary thresholds, and expedited certification for public sector projects subject to lender bidding processes. 5. Performance measures The United States Government, in connection with its voice and vote in the North American Development Bank, shall require the Bank to develop performance measures, which shall be reported to the Congress by the Secretary of the Treasury in conjunction with the President’s annual budget submission. These performance measures shall demonstrate how the Bank’s approved projects and financing are meeting the Bank’s mission and providing added value to the border region. These performance measures shall be reviewed and updated not less frequently than annually.