North American Development Bank Improvement and General Capital Increase Authorization Act of 2017

North American Development Bank Improvement and General Capital Increase Authorization Act of 2017

This bill authorizes the Department of the Treasury to subscribe to 150,000 additional shares of the capital stock of the North American Development Bank.

The U.S. government shall support the financing of projects related to:

• natural gas, including natural gas pipelines and combined cycle power plants, with major emphasis on cross-border energy distribution and consumption and the energy security of the United States and Mexico; and
• the expansion or new construction of international land border crossings to facilitate the the flow of goods and people across the U.S.-Mexico border while reducing wait times and improving air quality related to vehicular and commercial traffic pollution.

The U.S. government shall also require the bank to develop and implement:

• efficiency improvements to streamline and accelerate the bank's project certification and financing process, and
• performance measures that demonstrate how the bank's approved projects and financing are meeting its mission and providing value to the U.S.- Mexico border region.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 882 Introduced in House (IH)]

<DOC>






115th CONGRESS
  1st Session
                                H. R. 882

   To provide for a general capital increase for the North American 
               Development Bank, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 6, 2017

   Mr. Cuellar (for himself, Mr. Hurd, Mr. Gene Green of Texas, Mr. 
 Doggett, Mr. Gonzalez of Texas, Mr. Al Green of Texas, Mr. O'Rourke, 
and Mr. Vela) introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To provide for a general capital increase for the North American 
               Development Bank, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``North American Development Bank 
Improvement and General Capital Increase Authorization Act of 2017''.

SEC. 2. GENERAL CAPITAL INCREASE.

    Part 2 of subtitle D of title V of Public Law 103-182 (22 U.S.C. 
290m-290m-5) is amended by adding at the end the following:

``SEC. 547. FIRST CAPITAL INCREASE.

    ``(a) Subscription Authorized.--
            ``(1) In general.--The Secretary of the Treasury may 
        subscribe on behalf of the United States to 150,000 additional 
        shares of the capital stock of the Bank.
            ``(2) Limitation.--Any subscription by the United States to 
        the capital stock of the Bank shall be effective only to such 
        extent and in such amounts as are provided in advance in 
        appropriations Acts.
    ``(b) Limitations on Authorization of Appropriations.--In order to 
pay for the increase in the United States subscription to the Bank 
under subsection (a), there are authorized to be appropriated, without 
fiscal year limitation, $1,500,000,000 for payment by the Secretary of 
the Treasury, of which--
            ``(1) $225,000,000 shall be for paid-in shares of the Bank; 
        and
            ``(2) $1,275,000,000 shall be for callable shares of the 
        Bank.''.

SEC. 3. POLICY GOALS.

    In addition to the North American Development Bank's current 
mission and scope, the United States Government, in connection with its 
voice and vote in the Bank, shall support the financing of projects 
related to--
            (1) natural gas, including natural gas pipelines and 
        combined cycle power plants, with major emphasis on cross-
        border energy distribution and consumption and the energy 
        security of the United States and Mexico; and
            (2) the expansion or new construction of international land 
        border crossings to help facilitate the flow of goods and 
        people across the United States-Mexico border while reducing 
        border wait times and improving air quality related to the 
        vehicular and commercial traffic pollution.

SEC. 4. EFFICIENCIES AND STREAMLINING.

    The United States Government, in connection with its voice and vote 
in the North American Development Bank, shall require the Bank to 
develop and implement efficiency improvements to streamline and 
accelerate the project certification and financing process, including 
support for initiatives such as single certifications for revolving 
facilities, programmatic certification of similar groups of small 
projects, expansion of internal authority to approve qualified projects 
below certain monetary thresholds, and expedited certification for 
public sector projects subject to lender bidding processes.

SEC. 5. PERFORMANCE MEASURES.

    The United States Government, in connection with its voice and vote 
in the North American Development Bank, shall require the Bank to 
develop performance measures, which shall be reported to the Congress 
by the Secretary of the Treasury in conjunction with the President's 
annual budget submission. These performance measures shall demonstrate 
how the Bank's approved projects and financing are meeting the Bank's 
mission and providing added value to the border region. These 
performance measures shall be reviewed and updated not less frequently 
than annually.
                                 <all>