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.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2018-07-18 | Calendars | Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522. | Senate |
| 2018-07-17 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2018-07-17 | Floor | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6320-6330) | House floor actions |
| 2018-07-17 | Floor | DEBATE - The House proceeded with forty minutes of debate on H.R. 5105. | House floor actions |
| 2018-07-17 | Floor | Considered under suspension of the rules. (consideration: CR H6320-6333) | House floor actions |
| 2018-07-17 | Floor | Mr. Royce (CA) moved to suspend the rules and pass the bill, as amended. | House floor actions |
| 2018-07-11 | Calendars | Placed on the Union Calendar, Calendar No. 631. | House floor actions |
| 2018-07-11 | Committee | Reported (Amended) by the Committee on Foreign Affairs. H. Rept. 115-814. | House floor actions |
| 2018-05-09 | Committee | Committee Agreed to Seek Consideration Under Suspension of the Rules, by Unanimous Consent. | House committee actions |
| 2018-05-09 | Committee | Ordered to be Reported (Amended) by Voice Vote. | House committee actions |
| 2018-05-09 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2018-02-27 | IntroReferral | Referred to the House Committee on Foreign Affairs. | House floor actions |
| 2018-02-27 | IntroReferral | Introduced in House | Library of Congress |