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United States · Bill · S

S. 2463 (115th)

BUILD Act of 2018

openUnited States· United States Congress· EN

Introduced

27 February 2018

Last action

27 June 2018 · Reported

Status

Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.

Sponsors

Sen. Corker, Bob [R-TN], Sen. Coons, Christopher A. [D-DE], Sen. Isakson, Johnny [R-GA], Sen. Murphy, Christopher [D-CT], Sen. Young, Todd [R-IN], Sen. Shaheen, Jeanne [D-NH], Sen. Portman, Rob [R-OH], Sen. Kaine, Tim [D-VA], Sen. Perdue, David [R-GA], Sen. Rubio, Marco [R-FL], Sen. Gardner, Cory [R-CO], Sen. Cardin, Benjamin L. [D-MD], Sen. Collins, Susan M. [R-ME], Sen. King, Angus S., Jr. [I-ME], Sen. Klobuchar, Amy [D-MN], Sen. Ernst, Joni [R-IA], Sen. Wyden, Ron [D-OR], Sen. Reed, Jack [D-RI]

Subjects

Discovery layer

Source updated

14 January 2026

Official sourceDownload fileView documentsShare

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 27 February 2018

    Introduced

    Read twice and referred to the Committee on Foreign Relations.

    Source: IntroReferral

  2. 27 February 2018

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 10 May 2018

    Committee

    Committee on Foreign Relations. Hearings held. Hearings printed: S.Hrg. 115-829.

    Source: Committee

  4. 26 June 2018

    Reported

    Committee on Foreign Relations. Ordered to be reported with an amendment favorably.

    Source: Committee

  5. 27 June 2018

    Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.

    Source: Calendars

  6. 27 June 2018

    Reported

    Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.

    Source: Committee

  7. 27 June 2018

    Reported

    Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

5 official files

Reported to Senate (text)

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  • Reported to Senate (text)

    Reported to Senate · EN · 27 June 2018

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  • Reported to Senate (PDF)

    Reported to Senate · EN · 27 June 2018

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 27 February 2018

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  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 27 February 2018

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  • Introduced in Senate

    summary · EN · 27 February 2018

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Sponsors

Related records

Sources

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