# 119-hr-5299: DFC Modernization Act of 2025

119-hr-5299, DFC Modernization Act of 2025, is a 119th Congress bill sponsored by Rep. Mast, Brian J. [R-FL-21] (R-FL); status in_committee; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-5299
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-5299
- Congress: 119
- Title: DFC Modernization Act of 2025
- Status: in_committee
- Introduced: 2025-09-11
- Sponsor: Rep. Mast, Brian J. [R-FL-21] (R-FL)
- Cosponsors: 0
- Policy area: International Affairs
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Gives the U.S. International Development Finance Corporation more license to take financial risks to attract private capital for development and strategic needs.** Title I also updates definitions by defining "high-income country" per the World Bank and adding a new category. - People in partner and developing countries: more private investment targeted at infrastructure, critical and rare earth minerals, and energy projects that aim to build private markets and jobs. - U.S. companies and investors: access to an expanded DFC toolbox. The bill authorizes equity, hybrid securities, mezzanine debt, creditor subordination, partial guarantees, first-loss coverage, insurance, and blended finance. - U.S. national security and foreign policy planners: lets the DFC back higher-risk projects in strategic sectors and high-risk countries to counter competitors, diversify energy sources and supply routes, reduce dependence on coercible resources, and support exports of U.S. energy and technology. It also contemplates accepting losses at the investment or portfolio level when necessary.

## Provisions PRIA read

- More capital for U.S. development finance: benefit, high. If enacted, the agency could back many more deals. The cap on total exposure would rise to $250 billion. It could own up to 49% of a single investment, up from 30%. A new Equity Investments Account would keep earnings and fees available without yearly approval. The DFC could use its fees for deal c…
- Stricter limits on state‑backed and rich‑country projects: cost, medium. The DFC would not back projects with private partners that act anti‑competitively. It would be barred from projects run by, or tied to, governments or state‑owned firms from countries of concern. The DFC would set rules to keep support neutral when state‑owned or sovereign funds are involved. Suppo…
- Repeal of 2019 European energy law: mixed, low. If enacted, this would repeal the European Energy Security and Diversification Act of 2019. That would remove the law and any programs it authorized. Actual impacts would depend on how agencies respond after the repeal.
- New leadership and oversight for U.S. development finance: mixed, low. The bill would reset leadership roles and the board. It would remove the Chief Development Officer, add a Vice Chair, and let the CEO pick officers and staff, with staff‑controlled slots rising from 50 to 100. It would change board composition and require a principal officer named by the President.…

## Related bills

- 119-hr-5300: Department of State Policy Provisions Act
- 119-hr-9086: Foreign Service Modernization Act
- 119-hr-6976: Duty Status Reform Act
- 119-hr-6766: Essential Caregivers Act of 2025
- 119-hr-4107: GOLDEN DOME Act of 2025
- 119-hr-2377: National Garden for America’s 250th Anniversary Act

## Sources
- [119-hr-5299 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/5299)

## Related
- [119-hr-5300: Department of State Policy Provisions Act](https://policyrisk.com/legislation/119-hr-5300)
- [119-hr-9086: Foreign Service Modernization Act](https://policyrisk.com/legislation/119-hr-9086)
- [119-hr-6976: Duty Status Reform Act](https://policyrisk.com/legislation/119-hr-6976)
- [119-hr-6766: Essential Caregivers Act of 2025](https://policyrisk.com/legislation/119-hr-6766)
- [119-hr-4107: GOLDEN DOME Act of 2025](https://policyrisk.com/legislation/119-hr-4107)
- [119-hr-2377: National Garden for America’s 250th Anniversary Act](https://policyrisk.com/legislation/119-hr-2377)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-5299 (as of 2026-04-21).