S.Amdt. 3093

SA 3093. Mr. ROMNEY (for himself and Mrs. Shaheen) 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 title IX, add the following:

Subtitle C--Expansion of Authorities of Office of Strategic Capital

SEC. 931. SHORT TITLE.

This subtitle may be cited as the ``Investing in Our
Defense Act of 2024''.

SEC. 932. AUTHORIZATION TO MAKE EQUITY INVESTMENTS.

(a) In General.--Section 149 of title 10, United States
Code, as amended by section 913, is further amended--
(1) by redesignating subsection (e) as subsection (f); and
(2) by inserting after subsection (d) the following new
subsection (e):
``(e) Equity Investments.--
``(1) In general.--To the extent and in such amounts as are
specifically provided in advance in appropriations Acts for
the purposes described in this subsection, the Office may, as
a minority investor, support eligible investments with funds
or use other mechanisms for the purpose of purchasing, and
may make and fund commitments to purchase, invest in, make
pledges in respect of, or otherwise acquire, equity or quasi-
equity securities or shares or financial interests of any
entity, upon such terms and conditions as the Director may
determine.
``(2) Limitations on equity investments.--
``(A) Per project limit.--The aggregate amount of support
provided under this subsection with respect to any eligible
investment shall not exceed 20 percent of the aggregate
amount of all equity investment made to the project at the
time that the Office approves support for the eligible
investment.
``(B) Total limit.--Support provided under this subsection
shall be limited to not more than 35 percent of the aggregate
exposure of the Office on the date on which the support is
provided.
``(3) Sales and liquidation of support.--The Office shall
seek to sell and liquidate any support for an eligible
investment provided under this subsection as soon as
commercially feasible, commensurate with other similar
investors in the project and taking into consideration the
national security interests of the United States.
``(4) Timetable.--The Office shall create an eligible
investment-specific timetable for support provided under
paragraph (1).''.
(b) Conforming Amendment.--Subsection (f)(1) of such
section, as redesignated by subsection (a), is further
amended by inserting

[[Page S5408]]

``, equity investment'' after ``loan guarantee''.

SEC. 933. AUTHORIZATION TO COLLECT FEES FOR PROVIDING CAPITAL
INVESTMENTS.

Section 149 of title 10, United States Code, as amended by
section 932, is further amended--
(1) by redesignating subsection (f) as subsection (g); and
(2) by inserting after subsection (e) the following new
subsection (f):
``(f) Fee Authority.--The Director may charge and collect
fees for providing capital assistance in amounts to be
determined by the Director. Such fees, once collected, may be
used only for the purposes and to the extent provided in
advance by appropriations Acts.''.
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