PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Foreign Affairs.
Congressional Research Service
Version 00 · Introduced in House · Jun 11, 2019
NATO Defense Financing Act
This bill authorizes the President to make direct loans to countries that joined the North Atlantic Treaty Organization (NATO) after March 1, 1999, for the purchase of U.S. defense articles. The President may (1) make such loans with lower interest rates than required by statute, and (2) charge fees associated with such loans. Before making such a loan, the Department of State shall certify to Congress that the receiving country (1) is making demonstrable progress toward meeting its NATO defense-spending obligations, (2) is respecting the country's constitution and upholding democratic values, and (3) has demonstrated a commitment to a free market economy and the capacity to meet the loan's terms.
People & committees
Rep. Engel, Eliot L. [D-NY-16] · D–NY
Legislative record
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Referred to the House Committee on Foreign Affairs.
Introduced in House
Introduced in House
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Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
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