22 U.S.C. § 290i–12 — Seventh capital increase
submitted 6 years ago by Pub. L. 97-35 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 145 words · no verdicts yet
This law lets the U.S. buy 532,023 more shares in the Bank's seventh capital increase. Congress must approve up to about $7.3 billion to pay for them.
The United States Governor of the Bank may subscribe on behalf of the United States to 532,023 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 (a), there are authorized to be appropriated, without fiscal year limitation, $7,286,587,008 for payment by the Secretary of the Treasury.
Of the amount authorized to be appropriated under paragraph (1)—
$437,190,016 shall be for paid in shares of the Bank; and
$6,849,396,992 shall be for callable shares of the Bank.
Source credit: (Pub. L. 97–35, title XIII, § 1345, as added Pub. L. 116–136, div. B, title XI, § 21012(b)(3), Mar. 27, 2020, 134 Stat. 594.)
- 2020Enacted · Pub. L. 97-35 · 134 Stat. 594
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-35 on 2020-03-27.
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