anty, or loan issued by the Corporation for projects in a country, except that in addition to the exception (with respect to benefiting needy people) set forth in subsection (a) of such section, the Corporation may support a project if the national security interest so requires.

(j) 277 The Corporation, including its franchise, capital, reserves, surplus, advances, intangible property, and income, shall be exempt from all taxation at any time imposed by the United States, by any territory, dependency, or possession of the United States, or by any State, the District of Columbia, or any county, municipality, or local taxing authority.

(k) 277 The Corporation shall publish, and make available to applicants for insurance, reinsurance, guarantees, financing, or other assistance made available by the Corporation under this title, the policy guidelines of the Corporation relating to its programs.

Sec. 240.278 Small Business Development.-The Corporation shall undertake, in cooperation with appropriate departments, agencies, and instrumentalities of the United States as well as private entities and others, to broaden the participation of United States small business, cooperatives, and other small United States investors in the development of small private enterprise in less developed friendly countries or areas. The Corporation shall allocate up to 50 percent of its annual net income, after making suitable provision for transfers and additions to reserves, to assist and facilitate the development of projects consistent with the provisions of this section. Such funds may be expended, notwithstanding the requirements of section 231(a), on such terms and conditions as the Corporation may determine, through loans, grants, or other programs authorized by section 234 and section 234A.

Sec. 240A.279 Reports to the Congress.-After (a) the end of each fiscal year, the Corporation shall submit to the Congress a complete and detailed report of its operations during such fiscal year. Such report shall include

(D) an assessment, based upon the development impact profiles required by section 239(h), of the economic and social development impact and benefits of the projects with respect to which such profiles are prepared, and of the extent to which the operations of Corporation complement or are compatible

*** Neen 12 and 13 of the OPIC Amendments Act of 1985 (Public Law 99-204; 99 Stat. 1674), added subsecs (P) and (k), respectively.

*** UNC 2200 This new sec 240 was added by sec. 9 of Public Law 95-268 (92 Stat. 216) Previously, noc 240 had concerned agricultural credit and self-help community development projects but had been repealed by the FA Act of 1974.

* UNC 1200a. Sec. 240A, as added by sec. 105 of the FA Act of 1969 and amended by sec BCD) of Public Law 93 390, was amended and restated by sec. 10 of Public Law 95-268 (92 Stat.

Fee (h) of the OPIC Amendments act of 1981 (Public Law 97-65; 95 Stat. 1024) required the following report:

to The Overseas Private Investment Corporation shall prepare and submit to the Congress not later than June 30, 1982, a report on methods for estimating the probability that particular investments or types of investments will nor will not be made if insurance or other support by The Corporation is not provided. The report should review methods of taking into consideration the availability of insurance in the private sector as well as the self-insurance capabilities of investors The report shall include recommendations on how the Corporation can incorporate monsideration of such estimates when deciding which investments to support, particularly if not all applications of eligible investors can be approved The report shall be based on studies condufodd by persons who are not officers or employees of the Corporation as well as on studies ponducted by the Corporation

with the development assistance programs of the United States and other donors; and

(2) a description of any project for which the Corporation(A) refused to provide any insurance, reinsurance, guaranty, financing, or other financial support, on account of violations of human rights referred to in section 239(i); or (B) notwithstanding such violations, provided such insurance, reinsurance, guaranty, financing, or financial support, on the basis of a determination (i) that the project will directly benefit the needy people in the country in which the project is located, or (ii) that the national security interest so requires.

(b) 280 (1) Each annual report required by subsection (a) shall contain projections of the effects on employment in the United States of all projects for which, during the preceding fiscal year, the Corporation initially issued any insurance, reinsurance, or guaranty or made any direct loan. Each such report shall include projections of

(A) the amount of United States exports to be generated by those projects, both during the start-up phase and over a period of years;

(B) the final destination of the products to be produced as a result of those projects; and

(C) the impact such production will have on the production of similar products in the United States with regard to both domestic sales and exports.

(2) 281 The projections required by this subsection shall be based on an analysis of each of the projects described in paragraph (1). (3) 281 In reporting the projections on employment required by this subsection, the Corporation shall specify, with respect to each project—

(A) any loss of jobs in the United States caused by the project, whether or not the project itself creates other jobs; (B) any jobs created by the project; and

(C) the country in which the project is located, and the economic sector involved in the project.

No proprietary information may be disclosed under this paragraph. (c)(1) 282 * [Repealed-1988]

*

280 Subsec. (b), which required a one-time report to Congress on the development of private and multilateral programs for investment insurance and any reinsurance arrangements OPIC had made with private insurance companies, multilateral organizations and institutions, or other entities, was struck out by sec. 9(a)(2) of the OPIC Amendments Act of 1981 (Public Law 97-65; 95 Stat. 1024).

281 Sec. 108 of the Jobs Through Exports Act of 1992 (Public Law 102-549; 106 Stat. 3654) struck out the former par. (2), and inserted new paras. (2) and (3).

282 Sec. 240A(c) was repealed by sec. 110(b)(1) of the OPIC Amendments Act of 1988, S. 2757, enacted into law by reference in the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1989 (Public Law 100-461; 102 Stat. 2268). It previously read as follows:

"(cX1) Not later than December 31, 1987, the Corporation shall submit to the Congress a report analyzing the actual effects, as of September 30, 1986, on employment in the United States of all projects with respect to which any insurance, reinsurance, or guaranty issued by the Corporation was in effect on September 30, 1986, or with respect to which repayments on direct loans by the Corporation were being made as of that date. The report shall set forth"(A) the amount of United States exports generated by those projects during fiscal year, "(B) to the extent feasible, the final destination of the products produced each fiscal year as a result of those projects, and

Continued

(d) The Corporation shall maintain as part of its records

(1) all information collected in preparing the report required by subsection (c) (as in effect before the enactment of the Overseas Private Investment Corporation Amendments Act of 1988),283 whether the information was collected by the Corporation itself or by a contractor; and

(2) a copy of the analysis of each project analyzed in preparing the reports required by either subsection (b) or (c) (as in effect before the enactment of the Overseas Private Investment Corporation Amendments Act of 1988).283

(e) 284 Each annual report required by subsection (a) shall include an assessment of programs implemented by the Corporation under section 234A(a), including the following information, to the extent such information is available to the Corporation:

(f)

(1) The nature and dollar value of political risk insurance provided by private insurers in conjunction with the Corporation, which the Corporation was not permitted to provide under this title.

(2) The nature and dollar value of political risk insurance provided by private insurers in conjunction with the Corporation, which the Corporation was permitted to provide under this title.

(3) The manner in which such private insurers and the Corporation cooperated in recovery efforts and claims management.

Subsections (b) and (e) do not require the inclusion in any report submitted pursuant to those subsections of any information which would not be required to be made available to the public pursuant to section 552 of title 5, United States Code (relating to freedom of information),

"(C) the impact of such production on the production of similar products in the United States during each fiscal year with regard to both domestic sales and exports.

"(5) In preparing this report, the Corporation shall collect factual data for each of the projects described in paragraph (D). The report may, however, present this information and the analysis of this information in aggregate form, but only if

(A) those projects which have a positive effect on employment in the United States and those projects which have a negative effect on employment in the United States are grouped separately, and

(11) there is set forth for each such grouping the key characteristics of the projects within that grouping, including the number of projects in each economic sector, the countries in which the projects in each economic sector are located, and the impact of the projects in pach pronomic sector on the level of employment in the United States and on the United Bules trade balance

05. The Corporation shall consult with the Committee on Foreign Affairs of the House of Rep rrasutatives and the Committee on Foreign Relations of the Senate in determining the methodgry fiber good in acquiring the information and in doing the analysis necessary to prepare the tepert required by this subsection, including identification of which projects should be analyzed. To be date this consultation, the Corporation shall submit to those committees by September do on a written description of its proposed methodology, including its proposed methodology with respect to determining final destinations.

To the extent that the report required by this subsection does not identify the final destifuntion of the post to produced as a result of a particular project, the report shall explain why wered Housible to provide that informATION.

A FENN at the OPIC Amendments Act of 1988, S. 2757, enacted into law by reference the Foreign Operations, Raport Knancing and Related Programs Appropriations Act, 1989 Foldi Tan Top Ant to stat 2-68), added the parenthetical text following the "

VECO (Pito at the OPIC Amendments Act of 1988, 8., 2737, enacted into law by reference in Ho Frente Pporation, Export Prancing and Related Programs Appropriations Act, 1989 (Fulde Fow to be too saat 2268) ended Sec 240A by redesignating subsec. (e) as (f) and

SEC. 240B.285 PROHIBITION ON NONCOMPETITIVE AWARDING OF INSURANCE CONTRACTS ON OPIC SUPPORTED EXPORTS.

(a) REQUIREMENT FOR CERTIFICATION.

(1) IN GENERAL.-Except as provided in paragraph (3), the investor on whose behalf insurance, reinsurance, guaranties, or other financing is provided under this title with respect to a project shall be required to certify to the Corporation that any contract for the export of goods as part of that project will include a clause requiring that United States insurance companies have a fair and open competitive opportunity to provide insurance against risk of loss of such export.

(2) WHEN CERTIFICATION MUST BE MADE.-The investor shall be required, in every practicable case, to so certify before the insurance, reinsurance, guarantee, or other financing is provided. In any case in which such a certification is not made in advance, the investor shall include in the certification the reasons for the failure to make a certification in advance.

(3) EXCEPTION.-Paragraph (1) does not apply with respect to an investor who does not, because of the nature of the investment, have a controlling interest in fact in the project in question.

(b) REPORTS BY THE UNITED STATES TRADE REPRESENTATIVE.-The United States Trade Representative shall review the actions of the Corporation under subsection (a) and, after consultation with representatives of United States insurance companies, shall report to the Congress in the report required by section 181(b) of the Trade Act of 1974 with respect to such actions.

(c) DEFINITIONS.-For purposes of this section—

(1) the term "United States insurance company" includes

(A) an individual, partnership, corporation, holding company, or other legal entity which is authorized, or in the case of a holding company, subsidiaries of which are authorized, by a State to engage in the business of issuing insurance contracts or reinsuring the risk underwritten by insurance companies; and

(B) foreign operations, branches, agencies, subsidiaries, affiliates, or joint ventures of any entity described in subparagraph (A);

(2) United States insurance companies shall be considered to have had a "fair and open competitive opportunity to provide insurance" if they

(A) have received notice of the opportunity to provide insurance; and

(B) have been evaluated on a nondiscriminatory basis; and

(3) the term "State" includes the District of Columbia and any commonwealth, territory, or possession of the United States.

285 22 U.S.C. 2200b. Sec. 109 of the Jobs Through Exports Act of 1992 (Public Law 102-549; 106 Stat. 3654) added sec. 240B. Previously, sec. 240B addressed the return of appropriated funds by the Corporation to the general fund of the Treasury.

Title V-Disadvantaged Children in Asia 196

Sec. 241,287 Assistance to Certain Disadvantaged Children in Asia-a The Congress recognizes the humanitarian needs of disadvantaged children in Asian countries where there has been or continues to be a presence of Cited States military and reated personnes in recent years. Moreover, the Congress finds that inadequate provision has been mace for the care and welfare of such issadvantager maren, particularly those fathered by the United States acizens.

b accorningy, the President s authorized to expend up to SALAS unus made availacie under chapter 1 of this part, in action funds otherwise availacie for such purposes, to help next de eers nese nisadvantaged children in Asia by assisting in de expansion and improvement of orphanages bosteis, day care sers show feeding programs, and health education, and welare foams Assistance provided under this section shall be furisted under the auspices of and by international organizations or private voluntary agencies operating within and in cooperation with, the countries of Asia where these disadvantaged children

Prie VII- Souchesst ksia Wurttiacersi and Reponai Programs 29:

Pue A Critzsuvn af Democrate Sascciones in Devesigment 232 See 281.188 Uthration of Democratic Institutions in DevelopNyams authorised in this chapter and Olaper 1990 empìass state placed on assuring maximum ALPopular Iedevoomic development on the part of de æque a ze zweitning zera in the encouragement 2. ** 24 orde o ary at the purposes of this title, programs sikky 9a Mager end carter 1 *** sa

MP SY Cry beds desires and capacities of De apie a „Y WAZEe developing countries and areas: