Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION. 1. SHORT TITLE

This Act may be cited as the ''Support for Overseas Cooperative
Development Act''.

SEC. 2. FINDINGS

The Congress makes the following findings:
(1) It is in the mutual economic interest of the United
States and peoples in developing and transitional countries to
promote cooperatives and credit unions.
(2) Self-help institutions, including cooperatives and
credit unions, provide enhanced opportunities for people to
participate directly in democratic decision-making for their
economic and social benefit through ownership and control of
business enterprises and through the mobilization of local
capital and savings and such organizations should be fully
utilized in fostering free market principles and the adoption
of self-help approaches to development.
(3) The United States seeks to encourage broad-based
economic and social development by creating and supporting--
(A) agricultural cooperatives that provide a means
to lift low income farmers and rural people out of
poverty and to better integrate them into national
economies;
(B) credit union networks that serve people of
limited means through safe savings and by extending
credit to families and microenterprises;
(C) electric and telephone cooperatives that
provide rural customers with power and
telecommunications services essential to economic
development;
(D) housing and community-based cooperatives that
provide low income shelter and work opportunities for
the urban poor; and
(E) mutual and cooperative insurance companies that
provide risk protection for life and property to under-
served populations often through group policies.

SEC. 3. GENERAL PROVISIONS.

(a) Declarations of Policy.--The Congress supports the development
and expansion of economic assistance programs that fully utilize
cooperatives and credit unions, particularly those programs committed
to--
(1) international cooperative principles, democratic
governance and involvement of women and ethnic minorities for
economic and social development;
(2) self-help mobilization of member savings and equity,
retention of profits in the community, except those programs
that are dependent on donor financing;
(3) market-oriented and value-added activities with the
potential to reach large numbers of low income people and help
them enter into the mainstream economy;
(4) strengthening the participation of rural and urban poor
to contribute to their country's economic development; and
(5) utilization of technical assistance and training to
better serve the member-owners.
(b) Development Priorities.--Section 111 of the Foreign Assistance
Act of 1961 (22 U.S.C. 2151i) is amended by adding at the end the
following: ''In meeting the requirement of the preceding sentence,
specific priority shall be given to the following:
''(1) Agriculture.--Technical assistance to low income
farmers who form and develop member-owned cooperatives for farm
supplies, marketing and value-added processing.
''(2) Financial systems.--The promotion of national credit
union systems through credit union-to-credit union technical
assistance that strengthens the ability of low income people
and micro-entrepreneurs to save and to have access to credit
for their own economic advancement.
''(3) Infrastructure.--The establishment of rural electric
and telecommunication cooperatives for universal access for
rural people and villages that lack reliable electric and
telecommunications services.
''(4) Housing and community services.--The promotion of
community-based cooperatives which provide employment
opportunities and important services such as health clinics,
self-help shelter, environmental improvements, group-owned
businesses, and other activities.''.

SEC. 4. REPORT.

Not later than 6 months after the date of the enactment of this
Act, the Administrator of the United States Agency for International
Development, in consultation with the heads of other appropriate
agencies, shall prepare and submit to Congress a report on the
implementation of section 111 of the Foreign Assistance Act of 1961 (22
U.S.C. 2151i), as amended by section 3 of this Act.

Passed the House of Representatives September 19, 2000.

Attest:

Clerk.
Output:
Amends the Foreign Assistance Act of 1961 to provide that, in meeting the goal of strengthening the participation of the rural and urban poor in their country's development through the use of development funds for technical and capital assistance in the development and use of cooperatives in less developed countries, that priority be given to: (1) technical assistance to low income farmers who form and develop member-owned cooperatives for farm supplies, marketing, and value-added processing; (2) the promotion of national credit union technical assistance that strengthens the ability of low income people and micro-entrepreneurs to save and to have access to credit for their own economic advancement; (3) the establishment of rural electric and telecommunication cooperatives for universal access for rural people and villages that lack reliable electric and telecommunications services; and (4) the promotion of community- based cooperatives which provide employment opportunities and important services such as health clinics, self-help shelters, environmental improvements, group-owned businesses, and other activities.