Page:United States Statutes at Large Volume 95.djvu/1047

 PUBLIC LAW 97-65—OCT. 16, 1981

95 STAT. 1021

Public Law 97- 65 97th Congress

An Act To amend the Foreign Assistance Act of 1961 with respect to the activities of the Overseas Private Investment Corporation.

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

Oct. 16, 1981 [H.R. 3136] Overseas Private Investment Corporation Amendments Act of 1981.

SEcnoN 1. This Act may be cited as the "Overseas Private Invest- 22 USC ^isi ment Corporation Amendcaents Act of 1981". "* °® CREATION, PURPOSE AND POLICY

SEC. 2. Section 231 of the Foreign Assistance Act of 1961 (22 U.S.C. 2191) is amended— (1) in paragraph (2)— (A) by striking out "$520 or less in 1975 United States dollars and inserting in lieu thereof "$680 or less in 1979 United States dollars; and (B) by striking out "$1,000 or more in 1975 United States dollars and inserting in lieu thereof "$2,950 or more in 1979 United States dollars; (2) in subsection (i) by inserting immediately before the semicolon the following: ", and to seek to support those developmental projects having positive trade benefits for the United States"; and (3)(A) in subsection (k) by striking out "and" after "required by clause (1);"; (B) in subsection (1) by striking out the period at the end thereof and inserting in lieu thereof "; and"; and (C) by adding at the end thereof the following new subsection: "(m) to refuse to insure, reinsure, or finance any investment subject to performance requirements which would reduce substantially the positive trade benefits likely to accrue to the United States from the investment.". ORGANIZATION AND MANAGEMENT

SEC. 3. (a) The first paragraph of section 233(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 2193(b)) is amended— (1) by striking out in the first sentence "eleven" and "six" and inserting in lieu thereof "fifteen" and "eight", respectively; (2) by inserting after the second sentence the following: "The United States Trade Representative shall be the Vice Chairman of the Board, ex officio, except that the United States Trade Representative may designate the Deputy United States Trade Representative to serve as Vice Chairman of the Board in place of me United States Trade Representative.";

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