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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (5)

Short Titles

Short Titles - Senate

Short Titles as Reported to Senate

BUILD Act of 2018
Better Utilization of Investments Leading to Development Act of 2018

Short Titles as Introduced

BUILD Act of 2018
Better Utilization of Investments Leading to Development Act of 2018

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to establish the United States International Development Finance Corporation, and for other purposes.


Actions Overview (2)

Date
06/27/2018Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
02/27/2018Introduced in Senate

All Actions (5)

Date
06/27/2018Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.
Action By: Senate
06/27/2018Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
06/26/2018Committee on Foreign Relations. Ordered to be reported with an amendment favorably.
05/10/2018Committee on Foreign Relations. Hearings held.
02/27/2018Read twice and referred to the Committee on Foreign Relations.
Action By: Senate

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Foreign Relations02/27/2018 Referred to
05/10/2018 Hearings by
06/26/2018 Markup by
06/27/2018 Reported by

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Latest Summary (1)

There is one summary for S.2463. View summaries

Shown Here:
Introduced in Senate (02/27/2018)

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.