US Code

Public Law 119-102 (07/12/2026)

22 U.S.C. § 290m–5

Grants out of paid-in capital resources

Section text and notes

(a)

In general

The President shall instruct the United States Federal Government representatives on the Board of Directors of the North American Development Bank to oppose any proposal where grants out of the Bank’s paid-in capital resources, except for grants from paid-in capital authorized for the community adjustment and investment program under the Bank’s charter of 1993, would—
(1)
be made to a project that is not being financed, in part, by loans; or
(2)
account for more than 50 percent of the financing of any individual project.
(b)

Exception

(1)

General rule

The requirements of subsection (a) shall not apply in cases where—
(A)
the President determines there are exceptional economic circumstances for making the grant and consults with the Committee on Foreign Relations of the Senate and the Committee on Financial Services of the House of Representatives; or
(B)
(i)
the grant is being made for a project that is so small that obtaining a loan is impractical; and
(ii)
the grant does not exceed $250,000.
(2)

Limitation

Not more than an aggregate of $5,000,000 in grants may be made under this subsection.

Pub. L. 103–182, title V, § 546Pub. L. 108–215, § 1(b)118 Stat. 579 Pub. L. 116–113, title VI, § 601134 Stat. 78 Pub. L. 116–260, div. O, title VI, § 601(a)(1)134 Stat. 2149 (, as added , , ; amended , , ; , (2), , .)

Editorial Notes

Amendments

Pub. L. 116–260, § 601(a)(1)section 601 of Pub. L. 116–1132020—, (2), provided that does not apply to this section and revived the provisions of this section as if such section 601 had not been enacted. See below.

Pub. L. 116–113, § 601Pub. L. 116–260, which repealed this section effective on the date the USMCA entered into force (), was made inapplicable to this section by section 601(a)(1), (2) of .

Statutory Notes and Related Subsidiaries

Effective Date of 2020 Amendment

Pub. L. 116–260section 601(h) of div. O of Pub. L. 116–260section 81c of Title 19Amendment by effective , see , set out as a note under , Customs Duties.