News Column

S. 2508, Energize Africa Act of 2014

August 13, 2014

WASHINGTON, Aug. 13 -- The Congressional Budget Office issued the following document:

S. 2508 would extend through 2019 the authority of the Overseas Private Investment Corporation (OPIC) to provide loans and insurance to help U.S. companies invest and expand in overseas markets. It also would require the Administration to encourage the private sector, other nations, international organizations, and nonprofit entities to increase access to electricity in sub-Saharan Africa. CBO estimates that, on net, implementing the legislation would save $135 million over the 2015-2019 period, assuming appropriation actions consistent with the bill. Pay-as-you-go procedures do not apply because enacting this legislation would not affect direct spending or revenues.

S. 2508 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would not affect the budgets of state, local, or tribal governments.

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Source: Targeted News Service

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