H.R.2747 - Economic Growth and Development Act115th Congress (2017-2018) |
|Sponsor:||Rep. Yoho, Ted S. [R-FL-3] (Introduced 05/25/2017)|
|Committees:||House - Foreign Affairs|
|Latest Action:||House - 05/25/2017 Referred to the House Committee on Foreign Affairs. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.2747 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (05/25/2017)
Economic Growth and Development Act
This bill requires the President to establish a primary interagency mechanism to coordinate U.S. development assistance programs carried out by federal agencies overseas with private sector investment activities.
The mechanism shall:
- streamline the private-sector liaison, coordination, and investment promotion functions of such agencies;
- facilitate the use of development and finance tools across such agencies to attract greater participation in development activities by the private sector; and
- establish a single point of contact for U.S. private sector entities pursuing partnership opportunities with such agencies.
Federal agencies planning or providing U.S. development assistance overseas shall ensure that: (1) a rigorous analysis of the constraints to economic growth and investment within a recipient country guides any U.S. development strategy, and (2) U.S. development strategies are coordinated with private sector activities in such countries.
Each analysis shall identify and analyze: (1) the constraints posed by inadequacies in critical infrastructure, the education system, the rule of law, the tax and investment codes, or the customs or regulatory regimes in the recipient country; and (2) the particular economic sectors that are central to achieving economic growth in the recipient country.
The results of each analysis shall be: (1) incorporated into any relevant development strategy, and (2) used to guide the allocation of resources by federal agencies planning or providing U.S. development assistance overseas.