Pub. L. 106-31, tit. VI, sec. 6001

Sec. 6001. Effective October 1, 1999, section 234 of the Foreign Assistance Act of 1961 (22 U.S.C. 2194) is amended by—113 STAT. 113 (1) striking the paragraph within subsection 234(g) that is currently designated as 234(c); (2) in paragraph (g)(2), changing the title to read “Equity Authority Limited to Projects in Sub–Saharan Africa and Caribbean Basin and Marine Transportation Projects Globally” and inserting after the words “Caribbean Basin Economic Recovery Act” the following: “and in marine transportation projects in countries and areas eligible for OPIC support worldwide using United States commercial maritime expertise”; and (3) inserting a new paragraph (g)(5) to read: “Implementation.—To the extent provided in advance in appropriations Acts, the Corporation is authorized to create such legal vehicles as may be necessary for implementation of its authorities, which legal vehicles may be deemed non–Federal borrowers for purposes of the Federal Credit Reform Act of 1990. Income and proceeds of investments made pursuant to this section 234(g) may be used to purchase equity or quasi–equity securities in accordance with the provisions of this section: Provided, however, That such purchases shall not be limited to the 4–year period of the pilot program: Provided further, That the limitations contained in section 234(g)(2) shall not apply to such purchases.“.