Legis Daily

BUILD Act of 2018

USA115th CongressS-2463| Senate 
| Updated: 6/27/2018
Bob Corker

Bob Corker

Republican Senator

Tennessee

Cosponsors (17)
Joni Ernst (Republican)Jeanne Shaheen (Democratic)David Perdue (Republican)Jack Reed (Democratic)Christopher A. Coons (Democratic)Todd Young (Republican)Angus S. King (Independent)Amy Klobuchar (Democratic)Tim Kaine (Democratic)Christopher Murphy (Democratic)Johnny Isakson (Republican)Benjamin L. Cardin (Democratic)Susan M. Collins (Republican)Marco Rubio (Republican)Cory Gardner (Republican)Rob Portman (Republican)Ron Wyden (Democratic)

Foreign Relations Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.

Bill Text Versions

View Text
2 versions available

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Timeline
Feb 27, 2018
Introduced in Senate
Feb 27, 2018
Read twice and referred to the Committee on Foreign Relations.
May 10, 2018
Committee on Foreign Relations. Hearings held. Hearings printed: S.Hrg. 115-829.
Jun 26, 2018
Committee on Foreign Relations. Ordered to be reported with an amendment favorably.
Jun 27, 2018
Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
Jun 27, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.
Jul 18, 2018

Latest Companion Bill Action

HR 115-5105
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
  • February 27, 2018
    Introduced in Senate


  • February 27, 2018
    Read twice and referred to the Committee on Foreign Relations.


  • May 10, 2018
    Committee on Foreign Relations. Hearings held. Hearings printed: S.Hrg. 115-829.


  • June 26, 2018
    Committee on Foreign Relations. Ordered to be reported with an amendment favorably.


  • June 27, 2018
    Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.


  • June 27, 2018
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.


  • July 18, 2018

    Latest Companion Bill Action

    HR 115-5105
    Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.

International Affairs

Related Bills

  • HR 115-5105: BUILD Act of 2018
Business investment and capitalCongressional oversightEconomic developmentExecutive agency funding and structureFinancial services and investmentsForeign aid and international reliefGovernment corporations and government-sponsored enterprisesGovernment information and archivesGovernment lending and loan guaranteesOverseas Private Investment Corporation (OPIC)Performance measurementPublic-private cooperationSecuritiesTrade agreements and negotiationsU.S. Agency for International Development (USAID)U.S. and foreign investments

BUILD Act of 2018

USA115th CongressS-2463| Senate 
| Updated: 6/27/2018
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.

Bill Text Versions

View Text
2 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 27, 2018
Introduced in Senate
Feb 27, 2018
Read twice and referred to the Committee on Foreign Relations.
May 10, 2018
Committee on Foreign Relations. Hearings held. Hearings printed: S.Hrg. 115-829.
Jun 26, 2018
Committee on Foreign Relations. Ordered to be reported with an amendment favorably.
Jun 27, 2018
Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
Jun 27, 2018
Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.
Jul 18, 2018

Latest Companion Bill Action

HR 115-5105
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
  • February 27, 2018
    Introduced in Senate


  • February 27, 2018
    Read twice and referred to the Committee on Foreign Relations.


  • May 10, 2018
    Committee on Foreign Relations. Hearings held. Hearings printed: S.Hrg. 115-829.


  • June 26, 2018
    Committee on Foreign Relations. Ordered to be reported with an amendment favorably.


  • June 27, 2018
    Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.


  • June 27, 2018
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.


  • July 18, 2018

    Latest Companion Bill Action

    HR 115-5105
    Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 522.
Bob Corker

Bob Corker

Republican Senator

Tennessee

Cosponsors (17)
Joni Ernst (Republican)Jeanne Shaheen (Democratic)David Perdue (Republican)Jack Reed (Democratic)Christopher A. Coons (Democratic)Todd Young (Republican)Angus S. King (Independent)Amy Klobuchar (Democratic)Tim Kaine (Democratic)Christopher Murphy (Democratic)Johnny Isakson (Republican)Benjamin L. Cardin (Democratic)Susan M. Collins (Republican)Marco Rubio (Republican)Cory Gardner (Republican)Rob Portman (Republican)Ron Wyden (Democratic)

Foreign Relations Committee

International Affairs

Related Bills

  • HR 115-5105: BUILD Act of 2018
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business investment and capitalCongressional oversightEconomic developmentExecutive agency funding and structureFinancial services and investmentsForeign aid and international reliefGovernment corporations and government-sponsored enterprisesGovernment information and archivesGovernment lending and loan guaranteesOverseas Private Investment Corporation (OPIC)Performance measurementPublic-private cooperationSecuritiesTrade agreements and negotiationsU.S. Agency for International Development (USAID)U.S. and foreign investments