AUTHORITY TO ISSUE INSURANCE AND EXTEND FINANCING

AUTHORITY TO ISSUE INSURANCE AND EXTEND FINANCING Sec. 581. (a) In General.—Section 235(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(a)) is amended— (1) by striking paragraphs (1) and (2)(A) and inserting the following: “(1) Insurance and financing.—(A) The maximum contingent liability outstanding at any one time pursuant to insurance issued under section 234(a), and the amount of financing issued under sections 234(b) and (c), shall not exceed in the aggregate $29,000,000,000.”; (2) by redesignating paragraph (3) as paragraph (2); and (3) by amending paragraph (2) (as so redesignated) by striking “September 30, 1997” and inserting “September 30, 1999”. (b) Conforming Amendment.—Paragraph (2) of section 235(a) of that Act (22 U.S.C. 2195(a)), as redesignated by subsection (a), is further amended by striking “(a) and (b)” and inserting “(a), (b), and (c)”.