American Foreign Investment Incentive and Deficit Reduction Act of 1999

Summary

American Foreign Investment Incentive and Deficit Reduction Act of 1999 - Directs the President to allow poor, emerging, and developing countries to repay their debt to the United States in their own currency, providing such debt is repaid in full by September 29, 2000. Directs the Secretary of the Treasury to sell at a reduced rate the dollars of the previously indebted countries to corporations whose national or international headquarters are located within the United States, under specified conditions. Requires U.S. investors who purchase the currency to agree to invest such funds in new and active businesses and industrial developments in the original debtor's country. Directs the President to report to the appropriate congressional committees with respect to the relief provided under this Act.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 November 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 3 November 1999

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• Introduced in House

  summary · EN · 3 November 1999

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