Collapse to view only § 5421. Enterprise Funds for Poland and Hungary
- § 5421. Enterprise Funds for Poland and Hungary
- § 5422. Labor market transition in Poland and Hungary
- § 5423. Technical training for private sector development in Poland and Hungary
- § 5424. Peace Corps programs in Poland and Hungary
- § 5425. Use of Polish currency generated by agricultural assistance
- § 5426. United States policy of private financial support for Polish and Hungarian credit unions
§ 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 laws
(d) Designation of Enterprise Funds
(1) Designation
(2) Consultation with Congress
(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.: 1
1 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 grants
(5) Private character of Enterprise Funds
(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 general
(2) Employee stock ownership plans
(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 Poland
(5) Economic foundation of NSZZ Solidarność
(g) Matters to be considered by Enterprise Funds
(h) Retention of interest
(i) Use of United States private venture capital
(j) Financial instruments for individual investment in Poland
(k) Nonapplicability of other laws
(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 audits
(n) GAO audits
(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 reports
(Pub. L. 101–179, title II, § 201, Nov. 28, 1989, 103 Stat. 1305; Pub. L. 104–107, title II, [(v)], Feb. 12, 1996, 110 Stat. 714; Pub. L. 105–118, title V, § 588, Nov. 26, 1997, 111 Stat. 2438; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814; Pub. L. 115–254, div. F, title VI, § 1470(m)(2), Oct. 5, 2018, 132 Stat. 3518.)
§ 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 authorized
(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 officers
(e) Consultation with labor and business representatives
(f) Delegation of responsibilities
(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.
(Pub. L. 101–179, title II, § 202, Nov. 28, 1989, 103 Stat. 1308; Pub. L. 117–286, § 4(a)(171), Dec. 27, 2022, 136 Stat. 4324.)
§ 5423. Technical training for private sector development in Poland and Hungary
(a) Technical training program
(b) Participation by Enterprise Funds and other agencies and organizations
In 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 law
(d) Authorization of appropriations
(e) Limitation with respect to Farmer-to-Farmer Program
(Pub. L. 101–179, title II, § 203, Nov. 28, 1989, 103 Stat. 1309; Pub. L. 110–246, title III, § 3001(b)(1)(A), (2)(U), June 18, 2008, 122 Stat. 1820, 1821.)
§ 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.
(Pub. L. 101–179, title II, § 204, Nov. 28, 1989, 103 Stat. 1310.)
§ 5425. Use of Polish currency generated by agricultural assistance
(a) Additional assistance for Poland
A 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 development
(c) Commodities subject to requirements
(d) Other uses not precluded
(Pub. L. 101–179, title II, § 205, Nov. 28, 1989, 103 Stat. 1310; Pub. L. 110–246, title III, § 3001(b)(1)(A), (2)(U), June 18, 2008, 122 Stat. 1820, 1821.)
§ 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).
(Pub. L. 101–179, title II, § 206, Nov. 28, 1989, 103 Stat. 1310.)