US Congress House Bill 7570 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Introduced on July 9 2020 - 25% progression, died in committee
Action: 2020-07-09 - Referred to the House Committee on Foreign Affairs.
Pending: House Foreign Affairs Committee
Text: Latest bill text (Introduced) [PDF]

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.

To amend the Better Utilization of Investments Leading to Development Act of 2018 to facilitate increased equity investments under that Act.

Rep. Ted Yoho [R-FL]

Rep. Adam Smith [D-WA]

Rep. Michael McCaul [R-TX]

Rep. Denver Riggleman [R-VA]

Date	Chamber	Action
2020-07-09	House	Referred to the House Committee on Foreign Affairs.
2020-07-09	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/7570/all-info
Text	https://www.congress.gov/116/bills/hr7570/BILLS-116hr7570ih.pdf