BUILD Act of 2018
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Feb 27, 2018)
Better Utilization of Investments Leading to Development Act of 2018 or the BUILD Act of 2018
This bill establishes the United States International Development Finance Corporation to facilitate the participation of private sector capital and skills in the economic development of countries with low- or lower-middle-income economies and countries transitioning from nonmarket to market economies in order to complement U.S. assistance and foreign policy objectives.
The corporation may: (1) make loans or loan guarantees, (2) as a minority investor acquire equity or financial interests in entities, (3) provide insurance or reinsurance to private sector entities and qualifying sovereign entities, (4) provide technical assistance, (5) administer special projects, (6) establish enterprise funds, (7) issue obligations, and (8) charge service fees.
The corporation shall terminate on September 30, 2038.
The corporation shall not provide assistance to: (1) a country whose government has repeatedly supported acts of international terrorism, or (2) a private sector entity that is engaged in monopolistic practices.
The bill prescribes transitional provisions, including transferring to the corporation the functions, personnel, assets, and liabilities of the Overseas Private Investment Corporation (which is subsequently terminated) and specified elements of the U.S. Agency for International Development.
What just happenedJun 27, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.
Who’s behind it
- Reported to SenateJun 27, 2018
- Introduced in SenateFeb 27, 2018
- Jun 27, 2018Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.
- Jun 27, 2018Committee
Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
Foreign Relations Committee - Jun 27, 2018Committee14000
Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
Foreign Relations Committee - Jun 26, 2018Committee
Committee on Foreign Relations. Ordered to be reported with an amendment favorably.
Foreign Relations Committee - May 10, 2018Committee
Committee on Foreign Relations. Hearings held.
Foreign Relations Committee - Feb 27, 2018IntroReferral
Read twice and referred to the Committee on Foreign Relations.
Foreign Relations Committee - Feb 27, 2018IntroReferral10000
Introduced in Senate