HR8661Referred to Committee

Foreign Military Financing Loan Authorization Act of 2026

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-05-04
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Brian J. Mast
Brian J. Mast
Republican · FL · Representative
Votes with party: 97.6% (589 recorded votes)

Full profile: /officials/M001199

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Ordered to be Reported (Amended) by the Yeas and Nays: 37 - 9.

2026-05-13

Source: Congress.gov

Committee Activity

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Plain-English Summary

The State Department would be allowed to offer direct loans and loan guarantees to help foreign countries buy American military equipment, weapons, and related services. This would make it easier for allied nations to afford defense purchases from U.S. companies without having to pay the full cost upfront. The program would affect defense contractors, foreign governments, and countries seeking to strengthen their military capabilities.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

International Affairs

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8661 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8661 To authorize the Secretary of State to provide certain direct loans and loan guarantees for the procurement of defense articles, defense services, and design and construction services, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 4, 2026 Mr. Mast introduced the following bill; which was referred to the Committee on Foreign Affairs _______________________________________________________________________ A BILL To authorize the Secretary of State to provide certain direct loans and loan guarantees for the procurement of defense articles, defense services, and design and construction services, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Foreign Military Financing Loan Authorization Act of 2026''. SEC. 2. AUTHORIZATION FOR DIRECT LOANS AND LOAN GUARANTEES. (a) Authorization.--The Secretary of State is authorized to provide, to any country or international organization the Secretary determines appropriate and consistent with United States national security interests-- (1) direct loans for the purpose of financing the procurement of defense articles, defense services, and design and construction services pursuant to section 23 of the Arms Export Control Act (22 U.S.C. 2763); and (2) loan guarantees for the purpose of financing the procurement of defense articles, defense services, and design and construction services pursuant to section 24 of such Act (22 U.S.C. 2764). (b) Loan Rate and Repayment Authority.--The Secretary is authorized to establish the rate of interest, repayment schedule, and repayment terms applicable to direct loans authorized under subsection (a)(1). (c) Conditions and Limitations.--Except as authorized in subsection (b), any direct loan or loan guarantee authorized under subsection (a) shall be subject to-- (1) the terms, conditions, eligibility requirements, and limitations set forth in section 23 of the Arms Export Control Act (22 U.S.C. 2763); (2) such additional terms and conditions as the Secretary may prescribe; and (3) the availability of funds appropriated by Congress for purposes of this section. SEC. 3. AUTHORIZING THE DEPARTMENT OF STATE TO OBLIGATE FUNDS FROM THE FOREIGN MILITARY SALES ADMINISTRATIVE SURCHARGE FUND. Funds deposited pursuant to section 21(e)(1)(A) of the Arms Export Control Act (22 U.S.C. 2761(e)(1)(A)) may be obligated by the Department of State for the purpose of carrying out activities pursuant to such Act (22 U.S.C. 2751 et seq.). SEC. 4. REPORTING REQUIREMENT. Not later than 180 days after the date of the enactment of this Act, and annually thereafter, the Secretary of State shall submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a report describing-- (1) any direct loan or loan guarantee provided pursuant to section 2(a); (2) the recipient, amount, terms, and purpose of each such loan or guarantee; (3) an assessment of the impact of such loans or guarantees on United States national security objectives; and (4) an assessment of additional resources needed by the Department of State to carry out the provisions of this Act. SEC. 5. DEFINITIONS. In this Act, the terms ``defense articles'', ``defense services'', and ``design and construction services'' have the meanings given such terms in section 47 of the Arms Export Control Act (22 U.S.C. 2794). <all>
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