To provide for a limitation on availability of funds for Bilaterial Economic Assistance, Development Credit Authority for fiscal year 2024.
Source: Congress.gov ·
226 words in original text
What This Bill Does
This bill limits how much money can be spent on the Development Credit Authority (a program that provides loans to help develop other countries' economies) in fiscal year 2024. The bill caps the available funds at a specific amount regardless of any other laws that might allow more spending.
Who It Affects
The Development Credit Authority and any agencies that manage Bilateral Economic Assistance (money the U.S. government gives to help other countries' economies).
Key Provisions
* The Development Credit Authority cannot receive or spend more than $55,000,000 in fiscal year 2024, even if other laws would normally allow more money to be available. (Sec. 1)
What Changes
If this bill becomes law, the Development Credit Authority's available funds would be limited to $55,000,000 for fiscal year 2024. Any amounts authorized or available beyond this cap would not be usable.
Important Definitions
None defined in the bill text.
Important: This plain English summary was generated by AI and is provided for informational purposes only.
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