ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

22 U.S.C. § 283z–13Ninth Capital Increase

submitted 15 years ago by Pub. L. 86-147 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 198 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lets the U.S. Governor of the Bank vote for a $70 billion capital increase. The U.S. may subscribe to over 1.7 million new Bank shares. Congress authorizes about $21 billion, split between paid-in and callable shares.

(a) Vote authorized The U.S. Governor of the Bank may vote for a resolution raising the Bank's capital stock by $70,000,000,000, as described in Resolution AG–7/10, "Report on the Ninth General Capital Increase in the resources of the Inter-American Development Bank," which the Governors approved on July 21, 2010. (b) Subscription authorized The U.S. Governor may subscribe, for the United States, to 1,741,135 additional shares of the Bank's capital stock. Any such subscription only counts to the extent Congress provides the money in advance through appropriations laws. (c) Limitations on authorization of appropriations To pay for this increased subscription, Congress authorizes $21,004,064,337, with no fiscal-year limit, for the Secretary of the Treasury to pay. Of that amount, $510,090,175 is for paid-in shares, and $20,493,974,162 is for callable shares.
the actual law source: uscode.house.gov ↗public domain
(a) Vote authorized

The United States Governor of the Bank is authorized to vote in favor of a resolution to increase the capital stock of the Bank by $70,000,000,000 as described in Resolution AG–7/10, “Report on the Ninth General Capital Increase in the resources of the Inter-American Development Bank” as approved by Governors on July 21, 2010.

(b) Subscription authorized
(1)

The United States Governor of the Bank may subscribe on behalf of the United States to 1,741,135 additional shares of the capital stock of the Bank.

(2)

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.

(c) Limitations on authorization of appropriations
(1)

In order to pay for the increase in the United States subscription to the Bank under subsection (b), there are authorized to be appropriated, without fiscal year limitation, $21,004,064,337 for payment by the Secretary of the Treasury.

(2)

Of the amount authorized to be appropriated under paragraph (1)—

(A)

$510,090,175 shall be for paid in shares of the Bank; and

(B)

$20,493,974,162 shall be for callable shares of the Bank.

Source credit: (Pub. L. 86–147, § 41, as added Pub. L. 112–74, div. I, title VII, § 7081(c), Dec. 23, 2011, 125 Stat. 1260.)

history & why it existsrecord from the source credit
  • 2011Enacted · Pub. L. 86-147 · 125 Stat. 1260

A history note hasn’t been published yet. The record shows enactment by Pub. L. 86-147 on 2011-12-23.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case