H.R. 2646 — Introduced in House

I 115th CONGRESS 1st Session H. R. 2646 IN THE HOUSE OF REPRESENTATIVES May 24, 2017Ms. Ros-Lehtinen (for herself, Mr. Deutch, Mr. Rogers of Kentucky, Mrs. Lowey, and Mr. Schiff) introduced the following bill; which was referred to the Committee on Foreign Affairs A BILL To reauthorize the United States-Jordan Defense Cooperation Act of 2015, and for other purposes. 1. Short title This Act may be cited as the United States-Jordan Defense Cooperation Extension Act. 2. Reauthorization of United States-Jordan Defense Cooperation Act of 2015 Section 5(a) of the United States-Jordan Defense Cooperation Act of 2015 (22 U.S.C. 2753 note) is amended— (1) by striking During the 3-year period and inserting During the period; and (2) by inserting and ending on December 31, 2022 after enactment of this Act. 3. Sense of Congress It is the sense of Congress that— (1) Jordan faces threats to its security from ongoing regional instability in the Middle East, particularly from the ongoing conflict in Syria; and (2) the Governments of the United States and Jordan should negotiate a new Memorandum of Understanding, for fiscal years 2018 through 2022, to significantly enhance Jordan’s military capacity and local economy. 4. Establishment of enterprise fund for Jordan (a) Findings Congress finds the following: (1) In December 2011, Congress passed section 7041(b) of the Consolidated Appropriations Act, 2012 (Public Law 112–74; 125 Stat. 1223), which appropriated funds made available under the heading Economic Support Fund to establish an enterprise fund for Jordan. (2) The intent of an enterprise fund is to attract private investment to help entrepreneurs and small businesses create jobs and to achieve sustainable economic development. (b) Establishment of Jordan Enterprise Fund The President is authorized to establish and operate an enterprise fund to provide assistance to Jordan. (c) Procedures and requirements The provisions contained in section 201 of the Support for East European Democracy (SEED) Act of 1989 (22 U.S.C. 5421), excluding the provisions of subsections (a), (b), (c), (d)(3), (f), and (j) of that section, shall be deemed to apply with respect to the Jordan Enterprise Fund and to funds made available to the enterprise fund in the same manner and to the same extent as such provisions apply with respect to enterprise funds established pursuant to such section or to funds made available to such established enterprise funds. (d) Operation of fund (1) Expenditures Funds made available to the Jordan Enterprise Fund shall be expended at the minimum rate necessary to make timely payments for projects and activities. (2) Administrative expenses Not more than 3 percent of the funds made available to the Jordan Enterprise Fund may be obligated or expended for the administrative expenses of the enterprise fund. (e) Board of directors The Jordan Enterprise Fund shall be governed by a Board of Directors comprised of 6 private citizens of the United States and 3 private citizens of Jordan who have pursued international business careers and have demonstrated expertise in international and emerging market investment activities. (f) Reports Not later than 1 year after the date of the enactment of this Act, and annually thereafter until the Jordan Enterprise Fund terminates in accordance with subsection (h), the enterprise fund shall— (1) submit to the appropriate congressional committees a report detailing the administrative expenses of the enterprise fund; and (2) publish, on an Internet website administered by the enterprise fund, each report submitted pursuant to subsection (c) in accordance with section 201(p) of the Support for East European Democracy (SEED) Act of 1989 (22 U.S.C. 5421(p)). (g) Liquidation Prior to the distribution of any funds resulting from any liquidation, dissolution, or winding up of the Jordan Enterprise Fund, in whole or in part, the President shall submit to the appropriate congressional committees a plan for the distribution of the assets of the enterprise fund. (h) Termination The authority of the Jordan Enterprise Fund to provide assistance shall terminate on the earlier of December 31, 2022, or the date on which the enterprise fund is liquidated in accordance with subsection (g). (i) Appropriate congressional committees In this section, the term appropriate congressional committees means— (1) the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives; and (2) the Committee on Foreign Relations and the Committee on Appropriations of the Senate.