To authorize the Development Finance Corporation to invest in Venezuela.
- Bill Number
- H.R. 8974
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- International Affairs
- Status
- Introduced
- Latest Action
- 2026-05-21: Referred to the House Committee on Foreign Affairs.
- Last Updated
- 2026-05-28T21:01:48Z
AI-Generated Summary
Purpose of the Legislation This bill aims to permit the U.S. Development Finance Corporation—a government agency that provides financing for overseas development projects—to make investments in Venezuela.
Key Provisions
- Amends the BUILD Act of 2018 by removing Venezuela from the list of restricted countries.
- Explicitly authorizes the Development Finance Corporation to invest in Venezuela, even if other laws would normally block such action.
- Makes these changes effective immediately upon enactment.
Significant Changes to Existing Law
- Removes Venezuela from the “countries of concern” category that had previously limited the Development Finance Corporation’s activities.
- Adds new statutory authority for investments in Venezuela that overrides prior legal restrictions.
Potential Impacts
- On government agencies: Allows the Development Finance Corporation to support projects in Venezuela without prior legal barriers.
- On citizens: Could increase U.S.-backed financing for economic or infrastructure efforts inside Venezuela.
- On international relations: May alter how the United States engages economically with Venezuela and its government.
Main Stakeholders Affected
- The U.S. Development Finance Corporation and its staff.
- Venezuelan businesses, projects, and government entities seeking outside financing.
- U.S. lawmakers and agencies involved in foreign economic policy.
Notable Legal, Constitutional, or Political Implications
- Legally updates the 2018 law that created the Development Finance Corporation by removing one country from its restricted list.
- Politically signals a possible shift in U.S. policy toward greater economic engagement with Venezuela.
- Falls within Congress’s constitutional power to set rules for U.S. government investments abroad.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (1)
Rep. Salazar, Maria Elvira [R-FL-27]
Recent Actions
- 2026-05-21: Referred to the House Committee on Foreign Affairs.
- 2026-05-21: Introduced in House
- 2026-05-21: Introduced in House
Bill Versions
- To authorize the Development Finance Corporation to invest in Venezuela. — issued 2026-05-21 — PDF (2 pages)