Better Utilization of Investments Leading to Development Act of 2018
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (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 after seven years.
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 happenedJul 18, 2018
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
Who’s behind it
- Placed on Calendar SenateJul 18, 2018
- Engrossed in HouseJul 17, 2018
- Reported in HouseJul 11, 2018
- Introduced in HouseFeb 27, 2018
- Jul 18, 2018Calendars
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
- Jul 17, 2018FloorH38310
Motion to reconsider laid on the table Agreed to without objection.
- Jul 17, 2018FloorH37300
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6320-6330)
- Jul 17, 2018Floor8000
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6320-6330)
- Jul 17, 2018FloorH8D000
DEBATE - The House proceeded with forty minutes of debate on H.R. 5105.
- Jul 17, 2018FloorH30000
Considered under suspension of the rules. (consideration: CR H6320-6333)
- Jul 17, 2018FloorH30300
Mr. Royce (CA) moved to suspend the rules and pass the bill, as amended.
- Jul 11, 2018CalendarsH12410
Placed on the Union Calendar, Calendar No. 631.
- Jul 11, 2018CommitteeH12200
Reported (Amended) by the Committee on Foreign Affairs. H. Rept. 115-814.
Foreign Affairs Committee - Jul 11, 2018Committee5000
Reported (Amended) by the Committee on Foreign Affairs. H. Rept. 115-814.
Foreign Affairs Committee - May 9, 2018Committee
Committee Agreed to Seek Consideration Under Suspension of the Rules, by Unanimous Consent.
Foreign Affairs Committee - May 9, 2018Committee
Ordered to be Reported (Amended) by Voice Vote.
Foreign Affairs Committee - May 9, 2018Committee
Committee Consideration and Mark-up Session Held.
Foreign Affairs Committee - Feb 27, 2018IntroReferralH11100
Referred to the House Committee on Foreign Affairs.
Foreign Affairs Committee - Feb 27, 2018IntroReferralIntro-H
Introduced in House
- Feb 27, 2018IntroReferral1000
Introduced in House