,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #dieb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bf1 #bjbc,mr4  
,wittman 7= himself1 ,mr4 ,khanna1 &    
,mr4 ,mills7 introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on ,arm$   
,s]vices  ,a ,,bill  ,to am5d title #aj1
 ,unit$ ,/ates ,code1 to e/abli% !      
,(fice ( ,/rategic ,capital 9 ! ,(fice (
 ! ,secret>y ( ,def5se1 & = o!r         
purposes4  #a4 ,e/abli%m5t ( ,(fice (   
,/rategic ,capital  7a7 ,9 g5]al ,*apt] 
#d ( title #aj1 ,unit$ ,/ates ,code1 is 
am5d$ by add+ at ! end ! foll[+ new     
section3  #adh4 ,(fice ( ,/rategic      
,capital  7a7 ,e/abli%m5t ,!re is 9 !   
,(fice ( ! ,secret>y ( ,def5se an (fice 
to be kn[n z ! ,(fice ( ,/rategic       
,capital 79 ?is section ref]r$ to z !   
,(fice74  7b7 ,director ,! ,(fice %all  
be head$ by an ,executive ,director 79  
?is section ref]r$ to z ! ,director71 :o
 %all be appo9t$ by ! ,secret>y (       
,def5se f among employees ( ! ,dep>tm5t 
( ,def5se 9 ,s5ior ,executive ,s]vice or

 equival5t positions 7z def9$ 9 section 
#cacb ( title #e74  7c7 ,duties ,!      
,(fice %all--  7#a7 id5tify1 accel]ate1 
& su/a9 ! e/abli%m5t1 rese>*1           
developm5t1 con/ruction1 procurem5t1    
leas+1 consolidation1 alt]ation1        
improvem5t1 or repair ( tangible &      
intangible assets vital to national     
security2  7#b7 protect vital tangible &
 intangible assets f !ft1 acquisition1 &
 transf] by c\ntries t are adv]s>ies ( !
 ,unit$ ,/ates2 &  7#c7 provide capital 
assi/ance to eligible entities engag$ 9 
eligible inve/m5ts4  7d7 ,applications  
,an eligible entity seek+ capital       
assi/ance = an eligible inve/m5t %all   
submit to ! ,director an application at 
su* "t1 9 su* mann]1 & conta9+ su*      
in=mation z ! ,director may require4    
7e7 ,selection ( inve/m5ts ,! ,director 
%all e/abli% crit]ia = select+ among    
eligible inve/m5ts = :i* applications   
are submitt$ "u subsection 7d74 ,su*    
crit]ia %all include-- 7#a7 ! ext5t to  
:i* an inve/m5t is significant to !     

national security ( ! ,unit$ ,/ates2    
7#b7 ! cr$itwor?9ess ( an inve/m5t2 &   
7#c7 ! likelihood t capital assi/ance   
provid$ = an inve/m5t w\ld enable !     
inve/m5t to proce$ soon] ?an ! inve/m5t 
w\ld o!rwise be able to proce$4  7f7    
,capital assi/ance ,! ,secret>y (       
,def5se is au?oriz$ to provide capital  
assi/ance )9 ?is section4 7#a7 ,loans & 
loan gu>antees  7,a7 ,9 g5]al ,! ,(fice 
may provide loans or loan gu>antees to  
f9ance or ref9ance ! co/s ( an eligible 
inve/m5t select$ pursuant to subsection 
7e74  7,b7 ,adm9i/ration ( loans  7i7   
,int]e/ rate  7,i7 ,9 g5]al ,except z   
provid$ by subclause 7,,ii71 ! int]e/   
rate on a loan provid$ "u subp>agraph   
7,a7 %all be n less ?an ! yield on      
m>ketable ,unit$ ,/ates ,treasury       
securities ( a simil> maturity to !     
maturity ( ! loan on ! date ( execution 
( ! loan agreem5t4  7,,ii7 ,exception ,!
 ,director may waive ! requirem5t "u    
subclause 7,i7 ) respect to an inve/m5t 
if ! inve/m5t is det]m9$ by ! ,secret>y 

( ,def5se to be vital to ! national     
security ( ! ,unit$ ,/ates4  7,,iii7    
,crit]ia ,! ,director %all e/abli%      
sep>ate & di/9ct crit]ia = ! int]e/     
rates = loan gu>antees ) private sector 
l5d+ in/itutions4  7ii7 ,f9al maturity  
date ,! f9al maturity date ( a loan     
provid$ "u subp>agraph 7,a7 %all be n   
lat] ?an #ej ye>s aft] ! date (         
sub/antial completion ( ! inve/m5t = :i*
 ! loan 0 provid$4  7iii7 ,prepaym5t ,a 
loan provid$ "u subp>agraph 7,a7 may be 
paid e>li] ?an is provid$ = "u ! loan   
agreem5t )\t a p5alty4  7iv7            
,nonsubord9ation  7,i7 ,9 g5]al ,a loan 
provid$ "u subp>agraph 7,a7 %all n be   
subord9at$ to ! claims ( any hold] (    
inve/m5t obligations 9 ! ev5t (         
bankruptcy1 insolv5cy1 or liquidation ( 
! obligor4  7,,ii7 ,waiv] ,! ,director  
may waive ! requirem5t "u subclause 7,i7
 ) respect to ! inve/m5t 9 ord] to      
mitigate risks to loan repaym5t4  7v7   
,sale ( loans ,= :i* a loan is provid$  
"u subp>agraph 7,a7 & aft] notify+ !    

obligor1 ! ,director may sell to ano!r  
entity or re(f] into ! capital m>kets a 
loan = ! inve/m5t if ! ,director        
det]m9es t ! sale or re(f]+ c be made on
 favorable t]ms4  7vi7 ,loan gu>antees  
7,i7 ,9 g5]al ,if ! ,director det]m9es t
 ! hold] ( a loan gu>ante$ by ! ,(fice  
default$ on ! loan1 ! ,director %all pay
 ! hold] z specifi$ 9 ! loan gu>antee   
agreem5t4  7,,ii7 ,loan gu>antee        
p]c5tage ,a loan gu>antee agreem5t ent]$
 into by ! ,(fice "u ?is p>agraph %all  
specify ! p]c5tage ( ! pr9cipal am\nt ( 
! loan gu>ante$ by ! ,(fice "u su*      
agreem5t4  7vii7 ,t]ms & conditions     
,loans & loan gu>antees provid$ "u      
subp>agraph 7,a7 %all be subject to su* 
o!r t]ms & conditions & conta9 su* o!r  
cov5ants1 repres5tations1 w>ranties1 &  
requirem5ts 7includ+ requirem5ts =      
audits7 z ! ,director det]m9es          
appropriate4  7viii7 ,inve/m5t-grade    
rat+ ,! ,director %all e/abli% a cr$it  
rat+ sy/em to ensure a reasonable       
likelihood ( repaym5t ( loans made or   

gu>ante$ "u ?is subsection4 ,! cr$it    
rat+ sy/em may include ! use ( exi/+    
cr$it rat+ ag5cies z ! ,director        
det]m9es appropriate4  7ix7             
,applicability ( f$]al cr$it re=m act ( 
#aiij ,loans & loan gu>antees provid$ "u
 subp>agraph 7,a7 %all be subject to !  
requirem5ts ( ! ,f$]al ,cr$it ,re=m ,act
 ( #aiij 7#b ,u4,s4,c4 #ffa et seq474   
7#b7 ,equity inve/m5ts  7,a7 ,9 g5]al ,!
 ,director may1 z a m9ority inve/or &   
subject to ! availability (             
appropriations ?is purpose1 support an  
eligible inve/m5t select$ pursuant to   
subsection 7e7 ) funds or use o!r       
me*anisms = ! purpose ( pur*as+1 & may  
make & fund commitm5ts to pur*ase1 inve/
 91 make pl$ges 9 respect (1 or o!rwise 
acquire1 equity1 w>rants1 or            
quasi-equity securities or %>es or      
f9ancial int]e/s ( ! eligible entity    
receiv+ support = ! eligible inve/m5t1  
includ+ z a limit$ p>tn] or o!r inve/or 
9 inve/m5t funds1 ^u su* t]ms &         
conditions z ! ,director may det]m9e4   

7,b7 ,sales & liquidation ( position ,! 
,(fice %all seek to sell & liquidate any
 support = an inve/m5t provid$ "u       
subp>agraph 7,a7 z soon z comm]cially   
feasible1 comm5surate ) o!r simil>      
inve/ors 9 ! inve/m5t & tak+ into       
consid]ation ! national security int]e/s
 ( ! ,unit$ ,/ates4  7#c7 ,te*nical     
assi/ance ,subject to ! availability (  
appropriations1 ! ,director may provide 
te*nical assi/ance ) respect to develop+
 & f9anc+ inve/m5ts to eligible entities
 seek+ capital assi/ance = eligible     
inve/m5ts & eligible entities receiv+   
capital assi/ance "u ?is subsection4    
7#d7 ,t]ms & conditions  7,a7 ,fees ,!  
,director may *>ge fees = ! provision ( 
capital assi/ance "u ?is subsection to  
cov] ! adm9i/rative co/s to ! ,(fice (  
provid+ su* assi/ance4  7,b7 ,use ( fees
 ,fees collect$ pursuant to subp>agraph 
7,a7 may only be us$ to pay = ! co/ (   
adm9i/]+ ! activities au?oriz$ by ?is   
section4  7,c7 ,am\nt ( capital         
assi/ance ,! ,director %all provide to  

an eligible inve/m5t select$ pursuant to
 subsection 7e7 ! m9imum am\nt (        
assi/ance necess>y to c>ry out !        
inve/m5t4  7,d7 ,use ( ,unit$ ,/ates    
doll> ,all f9ancial transactions        
conduct$ "u ?is subsection %all be      
conduct$ 9 ,unit$ ,/ates doll>s4  7g7   
,e/abli%m5t ( ,acc\nts  7#a7 ,cr$it     
program acc\nt  7,a7 ,e/abli%m5t ,!re is
 e/abli%$ 9 ! ,treasury ( ! ,unit$      
,/ates an acc\nt to be kn[n z !         
,dep>tm5t ( ,def5se ,cr$it ,program     
,acc\nt 79 ?is subsection ref]r$ to z ! 
,cr$it ,program ,acc\nt7 to make loans &
 loan gu>antees "u ?is section 9        
accordance ) ! ,f$]al ,cr$it ,re=m ,act 
( #aiij 7#b ,u4,s4,c4 #ffa et seq474    
7,b7 ,fund+ ,! ,cr$it ,program ,acc\nt  
%all consi/ ( am\nts appropriat$ to !   
,cr$it ,program ,acc\nt pursuant to an  
au?orization ( appropriations & all fees
 z describ$ 9 subp>agraph 7,c74  7,c7   
,fee au?ority  7i7 ,9 g5]al ,! ,secret>y
 may *>ge & collect fees = provid+      
capital assi/ance 9 an am\nt to be      

det]m9$ by ! ,secret>y to cov] ! co/s to
 ! ,(fice ( provid+ su* capital         
assi/ance4  7ii7 ,am\nt ,! am\nt ( !    
fees "u clause 7i7 %all equal1 b n      
exce$1 ! co/s to ! ,(fice ( provid+     
capital assi/ance4  7iii7 ,use ( fees   
,fees collect$ pursuant to clause 7i7   
may only be us$ to pay = ! co/ (        
adm9i/]+ ! activities au?oriz$ by ?is   
section4  7#b7 ,equity acc\nt  7,a7     
,e/abli%m5t ,!re is e/abli%$ 9 !        
,treasury ( ! ,unit$ ,/ates an acc\nt to
 be kn[n z ! ,dep>tm5t ( ,def5se        
,/rategic ,capital ,equity ,acc\nt 79   
?is subsection ref]r$ to z ! ,/rategic  
,capital ,equity ,acc\nt74  7,b7 ,fund+ 
,! ,/rategic ,capital ,equity ,acc\nt   
%all consi/ ( all am\nts appropriat$ to 
! ,/rategic ,capital ,equity ,acc\nt    
pursuant to an au?orization (           
appropriations4  7#c7 ,use ( funds      
,subject to appropriations ,acts1 !     
,secret>y is au?oriz$ to pay1 f ! ,cr$it
 ,program ,acc\nt or ! ,/rategic        
,capital ,equity ,acc\nt--  7,a7 ! co/1 

z def9$ 9 section #ejb ( ! ,f$]al ,cr$it
 ,re=m ,act ( #aiij 7#b ,u4,s4,c4       
#ffa;a71 ( loans & loan gu>antees & o!r 
capital assi/ance2  7,b7 adm9i/rative   
exp5ses ( ! ,(fice associat$ )          
activities "u ?is section2  7,c7        
project-specific transaction co/s "u ?is
 section2  7,d7 ! co/ ( provid+ support 
au?oriz$ by ?is section2 &  7,e7 ! co/s 
( equity inve/m5ts "u ?is section4  7h7 
,regulations  7#a7 ,9 g5]al ,! ,secret>y
 ( ,def5se %all prescribe su*           
regulations z are necess>y to c>ry out  
?is section4  7#b7 ,limitation on       
au?orities ,! ,secret>y ( ,def5se may n 
ex]cise ! au?orities "u ?is section     
prior to promulgat+ ! regulations       
requir$ by p>agraph 7#a74  7i7 ,annual  
report ,n lat] ?an ! fir/ ,monday 9     
,febru>y ( ea* ye>1 ! ,secret>y (       
,def5se %all submit to ! congressional  
def5se committees an annual report      
describ+ ! activities ( ! ,(fice 9 !    
prec$+ fiscal ye> & ! goals ( ! ,(fice =
 ! next fiscal ye>4  7j7 ,congressional 

notification ,n lat] ?an #cj days aft] !
 ,director ex]cises ! au?ority "u       
subsection 7f7 to make a loan or equity 
inve/m5t or to provide a loan gu>antee1 
insurance1 or re9surance1 ! ,secret>y ( 
,def5se %all notify ! congressional     
def5se committees ( su* ex]cise (       
au?ority4  7k7 ,sunset ,! au?orities    
provid$ "u ?is section %all expire on   
,octob] #a1 #bjbh4  7l7 ,def9itions ,9  
?is section3 7#a7 ,capital assi/ance ,! 
t]m capital assi/ance means loans1 loan 
gu>antees1 equity inve/m5ts1 or te*nical
 assi/ance provid$ "u subsection 7f74   
7#b7 ,eligible entity ,! t]m eligible   
entity means-- 7,a7 an individual2  7,b7
 a corporation1 includ+ a limit$        
liability corporation2  7,c7 a p>tn]%ip1
 includ+ a public-private1 limit$1 &    
g5]al p>tn]%ip2  7,d7 a jo9t v5ture1    
includ+ a /rategic alliance2  7,e7 a    
tru/2  7,f7 a ,/ate1 includ+ a political
 subdivision or any o!r in/rum5tality ( 
a ,/ate2  7,g7 a ,tribal gov]nm5t or    
consortium ( ,tribal gov]nm5ts2  7,h7   

any o!r gov]nm5tal entity or public     
ag5cy 9 ! ,unit$ ,/ates1 includ+ a      
special purpose di/rict or public       
au?ority1 includ+ a port au?ority2 or   
7,i7 a multi-,/ate or                   
multi-jurisdictional gr\p ( public      
entities4  7#c7 ,eligible inve/m5t ,!   
t]m eligible inve/m5t means an inve/m5t 
t facilitates ! ef=ts ( ! ,(fice-- 7,a7 
to id5tify1 accel]ate1 & su/a9 !        
e/abli%m5t1 rese>*1 developm5t1         
con/ruction1 procurem5t1 leas+1         
consolidation1 alt]ation1 improvem5t1 or
 repair ( tangible & intangible assets  
vital to national security2 or  7,b7 to 
protect vital tangible & intangible     
assets f !ft1 acquisition1 & transf] by 
c\ntries t are adv]s>ies ( ! ,unit$     
,/ates4  7#d7 ,inve/m5t-grade rat+ ,!   
,director %all e/abli% a cr$it rat+     
sy/em to ensure a reasonable reassurance
 ( repaym5t4 ,?is may include use (     
exi/+ cr$it rat+ ag5cies :]e            
appropriate4  7#e7 ,obligor ,! t]m      
obligor means a p>ty t is prim>ily      

liable = paym5t ( ! pr9cipal ( or int]e/
 on a loan4  7#f7 ,rat+ ag5cy ,! t]m    
rat+ ag5cy means a cr$it rat+ ag5cy     
regi/]$ ) ! ,securities & ,ex*ange      
,commission z a nationally recogniz$    
/ati/ical rat+ organization 7z t t]m is 
def9$ 9 section #c7;a7 ( ! ,securities  
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#gh;c7a7774  7#g7 ,subsidy am\nt ,! t]m 
subsidy am\nt means ! am\nt ( budget    
au?ority suffici5t to cov] ! e/imat$    
long-t]m co/ to ! ,f$]al ,gov]nm5t ( a  
loan-- 7,a7 calculat$ on a net pres5t   
value basis2 &  7,b7 exclud+            
adm9i/rative co/s & any incid5tal       
effects on gov]nm5tal receipts or       
outlays 9 accordance ) ! ,f$]al ,cr$it  
,re=m ,act ( #aiij 7#b ,u4,s4,c4 #ffa et
 seq474  4  7b7 ,cl]ical am5dm5t ,!     
table ( sections at ! beg9n+ ( *apt] #d 
( su* title is am5d$ by add+ at ! end ! 
foll[+ new item3  #adh4 ,(fice (        
,/rategic ,capital4  4