Overseas Private Investment Corporation Amendments Act of 1981

Summary

Overseas Private Investment Corporation Amendments Act of 1981 - Amends the Foreign Assistance Act of 1961 to direct the Overseas Private Investment Corporation (OPIC) to support developmental projects having trade benefits for the United States. Increases the maximum per capita income which qualifies a less developed country for preferential consideration for investment projects. Removes the restriction on OPIC with respect to investment projects in less developed countries that have per capita incomes below a specified amount. Increases the number of members of OPIC's Board of Directors. Authorizes OPIC to insure approved projects against the risks of civil strife. Limits OPIC's share of insurance liability for multilateral investments to the proportionate participation of eligible investors in the projects. Limits the amount of investment insurance and guaranties issued to a single investor to a certain percentage of the maximum contingent liability of such insurance and guaranties which OPIC is permitted to have outstanding. Deletes the prohibition against OPIC entering certain direct insurance underwriting agreements with other insurance companies. Deletes the limitation on the amount of OPIC's annual reinsurance liabilities. Extends the authority of OPIC to issue investment insurance and guaranties until September 1985. Authorizes loans from the Direct Investment Fund to the extent amounts are appropriated. Authorizes computation of a claim of loss under equity investment insurance on the basis of net book value attributable to such equity investment on the date of loss. Abolishes the provision which permits a State to prohibit OPIC from requiring an investor to be insured for ten percent of an investment otherwise insured by OPIC. Authorizes OPIC to collect or compromise any obligations assigned to or held by it. Authorizes the Inspector General of the Agency for International Development to review, investigate, and inspect OPIC's activities. Abolishes: (1) OPIC's Advisory Council; (2) certain limitations on OPIC's financial support for new or expanded copper exploration or extraction projects; and (3) the prohibitions on OPIC financial support for projects involving production or processing of palm oil, sugar, or citrus crops for export. Removes the requirement that OPIC report to Congress by a specified date on certain investment insurance programs and reinsurance arrangements.

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Timeline

1. 8 April 1981

   Introduced

   Referred to House Committee on Foreign Affairs.

   Source: IntroReferral

2. 8 April 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 8 April 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 9 April 1981

   Referred

   Referred to Subcommittee on International Economic Policy and Trade.

   Source: Committee

5. 18 May 1981

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 3 June 1981

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 23 June 1981

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

8. 23 June 1981

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

9. 14 July 1981

   Reported

   Ordered to be Reported (Amended).

   Source: Committee

10. 14 July 1981

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

11. 23 July 1981

    Calendars

    Placed on Union Calendar No: 135.

    Source: Calendars

12. 23 July 1981

    Reported

    Reported to House (Amended) by House Committee on Foreign Affairs. Report No: 97-195.

    Source: Committee

13. 23 July 1981

    Reported

    Reported to House (Amended) by House Committee on Foreign Affairs. Report No: 97-195.

    Source: Committee

14. 15 September 1981

    Reported

    Rules Committee Resolution H.Res.216 Reported to House.

    Source: Floor

15. 15 September 1981

    Floor

    Rule Granted Providing an Open Rule with 1 Hour of Debate. Partial Waiver of Points of Order.

    Source: Floor

16. 17 September 1981

    Passed

    Rule Passed House.

    Source: Floor

17. 21 September 1981

    Floor

    Considered by House Unfinished Business.

    Source: Floor

18. 22 September 1981

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

19. 22 September 1981

    Passed

    Passed/agreed to in House: Passed House (Amended) by Voice Vote.

    Source: Floor

20. 22 September 1981

    Passed

    House Agreed to Amendments Adopted by the Committee of the Whole.

    Source: Floor

21. 22 September 1981

    Floor

    Committee Amendment in the Nature of a Substitute Considered as an Original Bill for the Purpose of Amendment.

    Source: Floor

22. 23 September 1981

    Floor

    Received in the Senate held at the desk by unanimous consent.

    Source: Floor

23. 25 September 1981

    Floor

    Considered by Senate.

    Source: Floor

24. 25 September 1981

    Passed

    Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.

    Source: Floor

25. 28 September 1981

    ResolvingDifferences

    House Concurred, in Senate Amendments , with Amendments by Unanimous Consent.

    Source: ResolvingDifferences

26. 28 September 1981

    NotUsed

    Resolving differences -- House actions: House Concurred, in Senate Amendments , with Amendments by Unanimous Consent.

    Source: NotUsed

27. 30 September 1981

    ResolvingDifferences

    Senate concurred in House amendments to Senate amendments with amendments SU461 by Voice Vote.

    Source: ResolvingDifferences

28. 30 September 1981

    NotUsed

    Resolving differences -- Senate actions: Senate concurred in House amendments to Senate amendments with amendments SU461 by Voice Vote.

    Source: NotUsed

29. 30 September 1981

    Floor

    Considered by Senate.

    Source: Floor

30. 2 October 1981

    Passed

    House Agreed to Senate Amendments to House Amendments to Senate Amendments by Voice Vote.

    Source: ResolvingDifferences

31. 2 October 1981

    Passed

    Resolving differences -- House actions: House Agreed to Senate Amendments to House Amendments to Senate Amendments by Voice Vote.

    Source: NotUsed

32. 7 October 1981

    Floor

    Presented to President.

    Source: Floor

33. 7 October 1981

    President

    Presented to President.

    Source: President

34. 7 October 1981

    Floor

    Measure Signed in Senate.

    Source: Floor

35. 16 October 1981

    Became law

    Became Public Law No: 97-65.

    Source: President

36. 16 October 1981

    Became law

    Signed by President.

    Source: BecameLaw

37. 16 October 1981

    President

    Signed by President.

    Source: President

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

7 official files

• Public Law (PDF)

  Public Law · EN · 17 October 1981

  ViewDownloadOpen at official source

• Senate agreed to House amendment with amendment

  summary · EN · 30 September 1981

  Open at official source

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• House agreed to Senate amendment with amendment

  summary · EN · 28 September 1981

  Open at official source

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• Passed Senate amended

  summary · EN · 25 September 1981

  Open at official source

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• Passed House amended

  summary · EN · 22 September 1981

  Open at official source

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• Reported to House with amendment(s)

  summary · EN · 23 July 1981

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• Introduced in House

  summary · EN · 8 April 1981

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Sponsors

• Rep. Bingham, Jonathan B. [D-NY-22] · D · Sponsor
• Rep. Lagomarsino, Robert J. [R-CA-19] · R · Sponsor
• Rep. Pritchard, Joel [R-WA-1] · R · Sponsor
• Rep. Roberts, Clint [R-SD-2] · R · Cosponsor
• Rep. McKinney, Stewart B. [R-CT-4] · R · Cosponsor
• Rep. Findley, Paul [R-IL-20] · R · Cosponsor
• Sen. Snowe, Olympia J. [R-ME] · R · Cosponsor
• · hsfa00 · Standing

Related records

• related to → A resolution providing for the consideration of the bill (H. R. 3136) to amend the Foreign Assistance Act of 1961 with respect to the activities of the Overseas Private Investment Corporation.
• related to ← Overseas Private Investment Corporation Amendments Act of 1981
• amends ← An amendment to state that contracts entered into by the Overseas Private Investment Corporation under the Foreign Assistance Act of 1961 shall be effective for any fiscal year beginning after September 30, 1981, only to such extent or in such amounts as are provided in appropriation acts.
• amends ← A substitute amendment to the Harkin amendment. The amendment requires OPIC to return to the Treasury funds equal to the total amounts appropriated to the corporation prior to January 1, 1975. To do this, the corporation is to return to the treasury in each fiscal year 25 percent of the funds appropriated for it in the previous year, until the total amount required to be returned in a manner consistent with the objectives of section 231 of the Foreign Assistance Act of 1961.
• amends ← A technical amendment setting the effective date October 1, 1981.
• amends ← An amendment to require the Secretary of the Treasury to transfer to the Treasury $106,000,000 funds from the Overseas Private Investment Corporation during the next four years beginning October 1, 1981. These funds are not to come from the Direct Investment Fund of the corporation, nor are they to be funds the Secretary determines are necessary for the Fund to meet its reserves and expenses under section 204 of the Foreign Assistance Act. If the total of $106,000,000 is not available, as much of that amount as can be transferred within these restrictions is to be transferred.
• amends ← A technical amendment.
• amends ← An amendment dealing with sugar markets.
• amends ← To substitute Title V of S.1196 for the text of H.R. 3136.(To amend and extend the authority of the Overseas Private Investment Corporation.)

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