22 U.S.C. § 283z–13 — Ninth Capital Increase
submitted 15 years ago by Pub. L. 86-147 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 198 words · no verdicts yet
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.
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.
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.
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.
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.
Of the amount authorized to be appropriated under paragraph (1)—
$510,090,175 shall be for paid in shares of the Bank; and
$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.)
- 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.
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