USC Subchapter II

USC Subchapter II
in effect

22 U.S.C. § 5421 Enterprise Funds for Poland and Hungary

(a) PurposesThe purposes of this section are to promote—(1) development of the Polish and Hungarian private sectors, including small businesses, the agricultural sector, and joint ventures with United States and host country participants, and (2) policies and practices conducive to private sector development in Poland and Hungary, through loans, grants, equity investments, feasibility studies, technical assistance, training, insurance, guarantees, and other measures. (b) Authorization of appropriationsTo carry out the purposes specified in subsection (a), there are authorized to be appropriated to the President—(1) $240,000,000 to support the Polish-American Enterprise Fund; and (2) $60,000,000 to support the Hungarian-American Enterprise Fund. Such amounts are authorized to be made available until expended. (c) Nonapplicability of other lawsThe funds appropriated under subsection (b) may be made available to the Polish-American Enterprise Fund and the Hungarian-American Enterprise Fund and used for the purposes of this section notwithstanding any other provision of law. (d) Designation of Enterprise Funds(1) DesignationThe President is authorized to designate two private, nonprofit organizations as eligible to receive funds and support pursuant to this section upon determining that such organizations have been established for the purposes specified in subsection (a). For purposes of this chapter, the organizations so designated shall be referred to as the Polish-American Enterprise Fund and the Hungarian-American Enterprise Fund (hereinafter in this section referred to as the “Enterprise Funds”). (2) Consultation with CongressThe President shall consult with the leadership of each House of Congress before designating an organization pursuant to paragraph (1). (3) Board of Directors(A) Each Enterprise Fund shall be governed by a Board of Directors comprised of private citizens of the United States, and citizens of the respective host country, who have demonstrated experience and expertise in those areas of private sector development in which the Enterprise Fund is involved. (B) A majority of the members of the Board of Directors of each Enterprise Fund shall be United States citizens.: 11 So in original. Provided, That, as to Enterprise Funds established with respect to more than one host country, such Enterprise Fund may, in lieu of the appointment of citizens of the host countries to its Board of Directors, establish an advisory council for the host region comprised of citizens of each of the host countries or establish separate advisory councils for each of the host countries (hereinafter in this section referred to as the “Advisory Councils”), with which the Enterprise Fund’s policies and proposed activities and such host country citizens shall satisfy the experience and expertise requirements of this clause. (C) A host country citizen who is not committed to respect for democracy and a free market economy may not serve as a member of the Board of Directors of an Enterprise Fund. (4) Eligibility of Enterprise Funds for grantsGrants may be made to an Enterprise Fund under this section only if the Enterprise Fund agrees to comply with the requirements specified in this section. (5) Private character of Enterprise FundsNothing in this section shall be construed to make an Enterprise Fund an agency or establishment of the United States Government, or to make the officers, employees, or members of the Board of Directors of an Enterprise Fund officers or employees of the United States for purposes of title 5. (e) Grants to Enterprise FundsFunds appropriated to the President pursuant to subsection (b) shall be granted to the Enterprise Funds to carry out the purposes specified in subsection (a) and for the administrative expenses of each Enterprise Fund—(1) except as provided in paragraph (2), by the United States Agency for International Development; or (2) if the Enterprise Funds are transferred to the United States International Development Finance Corporation pursuant to section 9683(b) of this title, by the Corporation. (f) Eligible programs and projects(1) In generalThe Enterprise Funds may provide assistance pursuant to this section only for programs and projects which are consistent with the purposes set forth in subsection (a). (2) Employee stock ownership plansFunds available to the Enterprise Funds may be used to encourage the establishment of Employee Stock Ownership Plans (ESOPs) in Poland and Hungary. (3) Indigenous credit unionsFunds available to the Enterprise Funds may be used for technical and other assistance to support the development of indigenous credit unions in Poland and Hungary. As used in this paragraph, the term “credit union” means a member-owned, nonprofit, cooperative depository institution—(A) which is formed to permit individuals in the field of membership specified in such institution’s charter to pool their savings, lend the savings to one another, and own the organization where they save, borrow, and obtain related financial services; and (B) whose members are united by a common bond and democratically operate the institution. (4) Telecommunications modernization in PolandThe Polish-American Enterprise Fund may use up to $25,000,000 for grants for projects providing for the early introduction in Poland of modern telephone systems and telecommunications technology, which are crucial in establishing the conditions for successful transition to political democracy and economic pluralism. (5) Economic foundation of NSZZ SolidarnośćFunds available to the Polish-American Enterprise Fund may be used to support the Economic Foundation of NSZZ Solidarność. (g) Matters to be considered by Enterprise FundsIn carrying out this section, each Enterprise Fund shall take into account such considerations as internationally recognized worker rights and other internationally recognized human rights, environmental factors, United States economic and employment effects, and the likelihood of commercial viability of the activity receiving assistance from the Enterprise Fund. (h) Retention of interestAn Enterprise Fund may hold funds granted to it pursuant to this section in interest-bearing accounts, prior to the disbursement of such funds for purposes specified in subsection (a), and may retain for such program purposes any interest earned on such deposits without returning such interest to the Treasury of the United States and without further appropriation by the Congress. (i) Use of United States private venture capitalIn order to maximize the effectiveness of the activities of the Enterprise Funds, each Enterprise Fund may conduct public offerings or private placements for the purpose of soliciting and accepting United States venture capital which may be used, separately or together with funds made available pursuant to this section, for any lawful investment purpose that the Board of Directors of the Enterprise Fund may determine in carrying out this section. Financial returns on Enterprise Fund investments that include a component of private venture capital may be distributed, at such times and in such amounts as the Board of Directors of the Enterprise Fund may determine, to the investors of such capital. (j) Financial instruments for individual investment in PolandIn order to maximize the effectiveness of the activities of the Polish-American Enterprise Fund, that Enterprise Fund should undertake all possible efforts to establish financial instruments that will enable individuals to invest in the private sectors of Poland and that will thereby have the effect of multiplying the impact of United States grants to that Enterprise Fund. (k) Nonapplicability of other lawsExecutive branch agencies may conduct programs and activities and provide services in support of the activities of the Enterprise Funds notwithstanding any other provision of law. (l) Limitation on payments to Enterprise Fund personnel(1) No part of the funds of an Enterprise Fund shall inure to the benefit of any board member, officer, or employee of such Enterprise Fund, except as salary or reasonable compensation for services subject to paragraph (2). (2) An Enterprise Fund shall not pay compensation for services to—(A) any board member of the Enterprise Fund, except for services as a board member; or (B) any firm, association, or entity in which a board member of the Enterprise Fund serves as partner, director, officer, or employee. (3) Nothing in paragraph (2) shall preclude payment for services performed before the date of enactment of this subsection nor for arrangements approved by the grantor and notified in writing to the Committees on Appropriations. (m) Independent private auditsThe accounts of each Enterprise Fund shall be audited annually in accordance with generally accepted auditing standards by independent certified public accountants or independent licensed public accountants certified or licensed by a regulatory authority of a State or other political subdivision of the United States. The report of each such independent audit shall be included in the annual report required by this section. (n) GAO auditsThe financial transactions undertaken pursuant to this section by each Enterprise Fund may be audited by the Government Accountability Office in accordance with such principles and procedures and under such rules and regulations as may be prescribed by the Comptroller General of the United States, so long as the Enterprise Fund is in receipt of United States Government grants. (o) Recordkeeping requirementsThe Enterprise Funds shall ensure—(1) that each recipient of assistance provided through the Enterprise Funds under this section keeps—(A) separate accounts with respect to such assistance; (B) such records as may be reasonably necessary to disclose fully the amount and the disposition by such recipient of the proceeds of such assistance, the total cost of the project or undertaking in connection with which such assistance is given or used, and the amount and nature of that portion of the cost of the project or undertaking supplied by other sources; and (C) such other records as will facilitate an effective audit; and (2) that the Enterprise Funds, or any of their duly authorized representatives, have access for the purpose of audit and examination to any books, documents, papers, and records of the recipient that are pertinent to assistance provided through the Enterprise Funds under this section. (p) Annual reportsEach Enterprise Fund shall publish an annual report, which shall include a comprehensive and detailed description of the Enterprise Fund’s operations, activities, financial condition, and accomplishments under this section for the preceding fiscal year. This report shall be published not later than January 31 each year, beginning in 1991.

22 U.S.C. § 5422 Labor market transition in Poland and Hungary

(a) Technical assistanceThe Secretary of Labor (hereinafter in this section referred to as the “Secretary”), in consultation with representatives of labor and business in the United States, shall—(1) provide technical assistance to Poland and Hungary for the implementation of labor market reforms; and (2) provide technical assistance to Poland and Hungary to facilitate adjustment during the period of economic transition and reform. (b) Types of technical assistance authorizedIn carrying out subsection (a), the Secretary is authorized to provide technical assistance regarding policies and programs for training and retraining, job search and employment services, unemployment insurance, occupational safety and health protection, labor-management relations, labor statistics, analysis of productivity constraints, entrepreneurial support for small businesses, market-driven systems of wage and income determinations, job creation, employment security, the observance of internationally recognized worker rights (including freedom of association and the right to organize and bargain collectively), and other matters that the Secretary may deem appropriate regarding free labor markets and labor organizations. (c) Administrative authoritiesIn carrying out subsection (a), the Secretary is authorized to do the following:(1) Solicit and accept in the name of the Department of Labor, and employ or dispose of in furtherance of the purposes of this section, any money or property, real, personal, or mixed, tangible or intangible, received by gift, devise, bequest, or otherwise. Gifts and donations of property which are no longer required for the discharge of the purposes of this section shall be reported to the Administrator of General Services for transfer, donation, or other disposal in accordance with chapters 1 to 11 of title 40 and division C (except sections 3302, 3307(e), 3501(b), 3509, 3906, 4710, and 4711) of subtitle I of title 41. (2) Solicit and accept voluntary and uncompensated services notwithstanding section 1342 of title 31. A volunteer under this paragraph shall not be deemed to be an employee of the United States except for the purposes of—(A) the tort claims provisions of title 28, and (B) subchapter I of chapter 81 of title 5, relating to compensation for work injuries. (3) Enter into arrangements or agreements with appropriate departments, agencies, and establishments of Poland and Hungary. (4) Enter into arrangements or agreements with appropriate private and public sector United States parties, and international organizations. (d) Consultation with appropriate officersIn carrying out the responsibilities established by this section, the Secretary shall seek information and advice from, and consult with, appropriate officers of the United States. (e) Consultation with labor and business representativesFor purposes of this section, consultation between the Secretary and United States labor and business representatives shall not be subject to chapter 10 of title 5. (f) Delegation of responsibilitiesThe Secretary shall delegate the authority to carry out the programs authorized by this section to the head of the Bureau of International Labor Affairs of the Department of Labor. (g) Authorization of appropriationsThere are authorized to be appropriated to the Department of Labor for the 3-year period beginning October 1, 1989, to carry out this section—(1) $4,000,000 for technical assistance to Poland; and (2) $1,000,000 for technical assistance to Hungary.

22 U.S.C. § 5423 Technical training for private sector development in Poland and Hungary

(a) Technical training programThe Agency for International Development shall develop and implement a program for extending basic agribusiness, commercial, entrepreneurial, financial, scientific, and technical skills to the people of Poland and Hungary to enable them to better meet their needs and develop a market economy. This program shall include management training and agricultural extension activities. (b) Participation by Enterprise Funds and other agencies and organizationsIn carrying out subsection (a), the Agency for International Development may utilize the Polish-American Enterprise Fund and the Hungarian-American Enterprise Fund and other appropriate Government and private agencies, programs, and organizations such as—(1) the Department of Agriculture; (2) the Farmer-to-Farmer Program under section 1736(a)(1) and (2) of title 7; (3) the International Executive Service Corps; (4) the Foundation for the Development of Polish Agriculture; (5) the World Council of Credit Unions; and (6) other United States, Polish, and Hungarian private and voluntary organizations and private sector entities. (c) Nonapplicability of other provisions of lawAssistance provided pursuant to subsection (a) under the authorities of part I of the Foreign Assistance Act of 1961 [22 U.S.C. 2151 et seq.] may be provided notwithstanding any other provision of law. (d) Authorization of appropriationsFor purposes of implementing this section, there are authorized to be appropriated $10,000,000 for the 3-year period beginning October 1, 1989, to carry out chapter 1 of part I of the Foreign Assistance Act of 1961 (22 U.S.C. 2151 and following; relating to development assistance), in addition to amounts otherwise available for such purposes. (e) Limitation with respect to Farmer-to-Farmer ProgramAny activities carried out pursuant to this chapter through the Farmer-to-Farmer Program under section 1736(a)(1) and (2) of title 7 shall be funded with funds authorized to be appropriated by this chapter and local currencies made available under section 5425 of this title, and shall not be funded with funds made available pursuant to section 1107 of the Food Security Act of 1985 (7 U.S.C. 1736 note) or a similar, subsequent provision of law.

22 U.S.C. § 5424 Peace Corps programs in Poland and Hungary

There are authorized to be appropriated to carry out programs in Poland and Hungary under the Peace Corps Act [22 U.S.C. 2501 et seq.], $6,000,000 for the 3-year period beginning October 1, 1989, in addition to amounts otherwise available for such purposes. Such programs shall include the use of Peace Corps volunteers— (1) to provide English language training, and (2) to extend the technical skills described in section 5423(a) of this title to the people of Poland and Hungary, using the Associate Volunteer Program to the extent practicable.

22 U.S.C. § 5425 Use of Polish currency generated by agricultural assistance

(a) Additional assistance for PolandA portion of the agricultural commodities described in subsection (c) may be made available and sold or bartered in Poland to generate local currencies to be used—(1) to complement the assistance for Poland authorized by sections 5413(b), 5421, and 5423 of this title, and (2) to support the activities of the joint commission established pursuant to section 2226 of the American Aid to Poland Act of 1988 (7 U.S.C. 1431 note), notwithstanding section 1431(b)(7) of title 7 or any other provision of law. (b) Emphasis on agricultural developmentThe uses of local currencies generated under this section should emphasize the development of agricultural infrastructure, agriculture-related training, and other aspects of agricultural development in Poland. (c) Commodities subject to requirementsSubsection (a) applies with respect to agricultural commodities made available for Poland for fiscal years 1990, 1991, and 1992 under section 1431(b) of title 7, the Food for Peace Act (7 U.S.C. 1691 and following), and section 1736o of title 7. (d) Other uses not precludedThe uses of agricultural commodities and local currencies specified in subsection (a) are in addition to other uses authorized by law.

22 U.S.C. § 5426 United States policy of private financial support for Polish and Hungarian credit unions

(a) In generalIn order to facilitate the development of indigenous credit unions in Poland and Hungary, it is the policy of the United States that—(1) United States citizens, financial institutions (other than federally insured depository institutions), and other persons may make contributions and loans to, make capital deposits in, and provide other forms of financial and technical assistance to credit unions in Poland and Hungary; and (2) federally insured depository institutions may provide technical assistance to credit unions in Poland and Hungary, to the extent that the provision of such assistance is prudent and not inconsistent with safe and sound banking practice. (b) Omitted (c) DefinitionsFor purposes of subsection (a)—(1) the term “credit union” means a member-owned, nonprofit, cooperative depository institution—(A) which is formed to permit individuals in the field of membership specified in such institution’s charter to pool their savings, lend the savings to one another, and own the organization where they save, borrow, and obtain related financial services; and (B) whose members are united by a common bond and democratically operate the institution; and (2) the term “federally insured depository institution” means—(A) any insured depository institution (as defined in section 1813(c)(2) of title 12); and (B) any insured credit union (as defined in section 1752(7) of title 12).

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