usc:us:22:9671

text: U.S.C. Title 22 - FOREIGN RELATIONS AND INTERCOURSE 22 U.S.C. United States Code, 2024 Edition Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 103 - BETTER UTILIZATION OF INVESTMENTS LEADING TO DEVELOPMENT SUBCHAPTER V - CONDITIONS, RESTRICTIONS, AND PROHIBITIONS Sec. 9671 - Limitations and preferences From the U.S. Government Publishing Office, www.gpo.gov §9671. Limitations and preferences (a) Limitation on support for single entity No entity receiving support from the Corporation under subchapter II of this chapter may receive more than an amount equal to 5 percent of the Corporation's maximum contingent liability authorized under section 9633 of this title. (b) Preference for support for projects sponsored by United States persons (1) In general The Corporation should give preferential consideration to projects sponsored by or involving private sector entities that are United States persons. (2) United States person defined In this subsection, the term "United States person" means— (A) a United States citizen; or (B) an entity owned or controlled by an individual or individuals described in subparagraph (A). (c) Preference for support in countries in compliance with international trade obligations (1) Consultations with United States Trade Representative Not less frequently than annually, the Corporation shall consult with the United States Trade Representative with respect to the status of countries eligible to receive support from the Corporation under subchapter II of this chapter and the compliance of those coun tries with their international trade obligations. (2) Preferential consideration The Corporation shall give preferential consideration to providing support under subchapter II of this chapter for projects in countries in compliance with or making substantial progress coming into compliance with their international trade obligations. (d) Worker rights (1) In general The Corporation shall only support projects under subchapter II of this chapter in countries that are taking steps to adopt and implement laws that extend internationally recognized worker rights (as defined in section 2467 of title 19) to workers in that country, including any designated zone in that country. (2) Required contract language The Corporation shall also include the following language, in substantially the following form, in all contracts which the Corporation enters into with persons receiving support under subchapter II of this chapter: "The person receiving support agrees not to take actions to prevent employees of the foreign enterprise from lawfully exercising their right of association and their right to organize and bargain collectively. The person further agrees to observe applicable laws relating to a minimum age for employment of children, acceptable conditions of work with respect to minimum wages, hours of work, and occupational health and safety, and not to use forced labor or the worst forms of child labor (as defined in section 507 of the Trade Act of 1974 (19 U.S.C. 2467)). The person is not responsible under this paragraph for the actions of a foreign government.". (e) Impact notification The Board shall not vote in favor of any project proposed to be supported by the Corporation under subchapter II of this chapter that is likely to have significant adverse environmental or social impacts that are sensitive, diverse, or unprecedented, unless— (1) at least 60 days before the date of the vote, an environmental and social impact assessment or initial environmental and social audit, analyzing the environmental and social impacts of the proposed project and of alternatives to the proposed project, including mitigation measures, is completed; (2) such assessment or audit has been made available to the public of the United States, locally affected groups in the country in which the project will be carried out, and nongovernmental organizations in that country; and (3) the Corporation, applying best practices with respect to environmental and social safeguards, includes in any contract relating to the project provisions to ensure the mitigation of any such adverse environmental or social impacts. (f) Women's economic empowerment In utilizing its authorities under subchapter II of this chapter, the Corporation shall consider the impacts of its support on women's economic opportunities and outcomes and shall prioritize the reduction of gender gaps and maximize development impact by working to improve women's economic opportunities. (g) Preference for provision of support in countries embracing private enterprise (1) In general The Corporation should give preferential consideration to projects for which support under subchapter II of this chapter may be provided in countries the governments of which have demonstrated consistent support for economic policies that promote the development of private enterprise, both domestic and foreign, and maintaining the conditions that enable private enterprise to make a full contribution to the development of such countries, including— (A) market-based economic policies; (B) protection of private property rights; (C) respect for the rule of law; and (D) systems to combat corruption and bribery. (2) Sources of information The Corporation should rely on both third-party indicators and United States Government information, such as the Department of State's Investment Climate Statements, the Department of Commerce's Country Commercial Guides, or the Millennium Challenge Corporation's Constraints Analysis, to assess whether countries meet the conditions described in paragraph (1). (h) Consideration of foreign boycott participation In providing support for projects under subchapter II of this chapter, the Corporation shall consider, using information readily available, whether the project is sponsored by or substantially affiliated with any person taking or knowingly agreeing to take actions, or having taken or knowingly agreed to take actions within the past 3 years, which demonstrate or otherwise evidence intent to comply with, further, or support any boycott described in section 4842(a) of title 50. (i) Ensuring opportunities for small businesses in foreign development The Corporation shall, using broad criteria, make, to the maximum extent possible consistent with this chapter, efforts— (1) to give preferential consideration in providing support under subchapter II of this chapter to projects sponsored by or involving small businesses; and (2) to ensure that the proportion of projects sponsored by or involving United States small businesses, including women-, minority-, and veteran-owned small businesses, is not less than 50 percent of all projects for which the Corporation provides support and that involve United States persons. (Pub. L. 115–254, div. F, title V, §1451, Oct. 5, 2018, 132 Stat. 3507.) Editorial Notes References in Text This chapter, referred to in subsec. (i), was in the original "this division", meaning division F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3485, which is classified principally to this chapter. For complete classification of division F to the Code, see Short Title note set out under section 9601 of this title and Tables.