S.Amdt. 2944

SA 2944. Mr. KAINE submitted an amendment intended to be proposed by
him to the bill S. 4638, to authorize appropriations for fiscal year
2025 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the end of subtitle F of title XII, add the following:

SEC. 1291. SUBSCRIPTION TO ADDITIONAL SHARES OF CAPITAL STOCK
OF THE INTER-AMERICAN INVESTMENT CORPORATION.

The Inter-American Investment Corporation Act (22 U.S.C.
283aa et seq.) is amended by adding at the end the following:

``SEC. 212. SUBSCRIPTION TO ADDITIONAL SHARES OF CAPITAL
STOCK OF THE CORPORATION.

``(a) In General.--The Secretary of the Treasury may
subscribe on behalf of the United States to not more than
58,942 additional shares of the capital stock of the
Corporation.
``(b) Limitation.--Any subscription to the additional
shares shall be effective only to such extent or in such
amounts as are provided in an appropriations Act.
``(c) Report Required.--
``(1) In general.--At the conclusion of negotiations for an
increase in the authorized capital stock of the Corporation
to which the United States subscribes, the Secretary of the
Treasury shall submit to the committees specified in
paragraph (2) a report that includes--

[[Page S5222]]

``(A) the full dollar amount of the United States
subscription to additional shares of capital stock of the
Corporation; and
``(B) a certification that the Inter-American Development
Bank Group has made satisfactory progress toward reforms
that--
``(i) increase the responsiveness of the Inter-American
Development Bank Group to the development needs of all
borrowing countries in Latin America and the Caribbean;
``(ii) improve the effectiveness of the financing of the
Inter-American Development Bank Group;
``(iii) foster the development of a vibrant private sector
in the region;
``(iv) help address global and regional challenges; and
``(v) promote more efficient use of the financial resources
of the Inter-American Development Bank Group.
``(2) Committees specified.--The committees specified in
this paragraph are--
``(A) the Committee on Appropriations and the Committee on
Foreign Relations of the Senate; and
``(B) the Committee on Appropriations and the Committee on
Financial Services of the House of Representatives.''.
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