HR 13973 · 93th Congress · Foreign Trade and International Finance

Overseas Private Investment Corporation Amendments Act

Introduced 1974-04-04· Sponsored by Rep. Culver, John C. [D-IA-2]· House

Bill Progress

Introduced
Committee
House Vote
4
Senate
5
Enacted
Latest: Measure laid on table in House, S. 2957 passed in lieu.(1974-05-16)

Recorded Votes

PassedHouse · 1974-05-16
Yea 225Nay 152
PassedHouse · 1974-05-16
Yea 225Nay 152

Plain Language Summary

[AI summary unavailable — showing source text] Overseas Private Investment Corporation Amendments Act - States that some of the major purposes of the Overseas Private Investment Corporation are: (1) to give preferential considerations in its investment insurance, financing, and reinsurance activities (to the maximum extent practicable consistent with the Corporation's purposes) to investment projects involving businesses of not more than $2,500,000 net worth or with not more than $7,500,000 in total assets; (2) to the maximum extent practicable, to give preferential consideration in the Corporation's investment insurance, financing, and reinsurance activities to investment projects in the less developed friendly countries which have per capita incomes of $450 or less in 1973 United States dollars; and (3) to identify foreign investment opportunities in less developed friendly countries and areas, and to bring information concerning such opportunities to the attention of potential eligible investors in such countries or areas. Provides that it is the intention of Congress that the Corporation should achieve participation by private insurance companies, multilateral organizations, or others in at least 24 percent of liabilities i…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (7)

3 Democrats4 Republicans