House Bill 7570
116th Congress(2019-2020)
To amend the Better Utilization of Investments Leading to Development Act of 2018 to facilitate increased equity investments under that Act.
Introduced
Introduced in House on Jul 9, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7570
Congress
116
Policy Area
International Affairs
International Affairs
Primary focus of measure is matters affecting foreign aid, human rights, international law and organizations; national governance; arms control; diplomacy and foreign officials; alliances and collective security. Measures concerning trade agreements, tariffs, foreign investments, and foreign loans may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
This bill modifies budget treatment for equity investments made by the U.S. International Development Finance Corporation.
Under current law, such equity investments are treated like grants for federal budgetary scoring, which requires the government to provide through appropriations the full amount that may be invested (i.e., dollar-for-dollar funding).
The bill instead deems such equity investments a federal credit program. As a result, such investments are scored based on an estimated repayment rate, and appropriation of the full investment amount is not required.
July 9, 2020
07/09/2020
Referred to the House Committee on Foreign Affairs.
07/09/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:58 PM