S. 2463 · 115th Congress
BUILD Act of 2018
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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CorkerSponsor17 cosponsors · 8 D, 8 R, 1 I
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Coons
JI
R
Isakson
TK
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Kaine
CM
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Murphy
RP
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Portman
JS
D
Shaheen
TY
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Young
DP
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Perdue
MR
R
Rubio
CG
R
Gardner
BC
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Cardin
SC
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Collins
AK
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Klobuchar
AK
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King
JE
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Ernst
RW
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Wyden
JR
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Reed7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Better Utilization of Investments Leading to Development Act of 2018 or the BUILD Act of 2018
What it does: CRS summary · 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: BUILD Act of 2018
Also known as: Better Utilization of Investments Leading to Development Act of 2018
Latest action (Jun 27, 2018): Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.
Policy area: International Affairs · Origin: Senate · Introduced: Feb 27, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.