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[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4509 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4509

  To impose restrictions on the authority to enter into certain trade 
      agreements reducing tariffs with respect to another country.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 26, 1994

Mr. Crane (for himself, Mr. Camp, Mr. Hancock, Mr. Herger, Mr. Jacobs, 
 and Mr. Quillen) introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL

 
  To impose restrictions on the authority to enter into certain trade 
      agreements reducing tariffs with respect to another country.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RESTRICTIONS ON AUTHORITY TO ENTER INTO BILATERAL TRADE 
              AGREEMENTS.

    (a) Limitations on Authority.--The President shall not enter into a 
trade agreement that reduces tariffs with respect to another country, 
or provides other benefits to such country, if the following applies to 
such country:
            (1)(A) Such country--
                    (i) has nationalized, expropriated, or otherwise 
                seized ownership or control of property owned by a 
                United States citizen or by a corporation, partnership, 
                or association which is 50 percent or more beneficially 
                owned by United States citizens,
                    (ii) has taken steps to repudiate or nullify--
                            (I) any existing contract or agreement 
                        with, or
                            (II) any patent, trademark, or other 
                        intellectual property of,
                a United States citizen or a corporation, partnership, 
                or association, which is 50 percent or more 
                beneficially owned by United States citizens, the 
                effect of which is to nationalize, expropriate, or 
                otherwise seize ownership or control of property so 
                owned, or
                    (iii) has imposed or enforced taxes or other 
                exactions, restrictive maintenance or operational 
                conditions, or other measures with respect to property 
                so owned, the effect of which is to nationalize, 
                expropriate, or otherwise seize ownership or control of 
                such property,
        unless the President makes a determination under subparagraph 
        (B) and promptly furnishes a copy of that determination to the 
        Senate and the House of Representatives.
            (B) A determination under this subparagraph is a 
        determination that--
                    (i) prompt, adequate, and effective compensation 
                has been or is being made to the citizen, corporation, 
                partnership, or association referred to in subparagraph 
                (A),
                    (ii) good-faith negotiations to provide prompt, 
                adequate, and effective compensation under the 
                applicable provisions of international law are in 
                progress, or the country concerned is otherwise taking 
                steps to discharge its obligations under international 
                law with respect to such citizen, corporation, 
                partnership, or association, or
                    (iii) a dispute involving such citizen, 
                corporation, partnership, or association, over 
                compensation for such a seizure has been submitted to 
                arbitration under the provisions of the Convention for 
                the Settlement of Investment Disputes, or in another 
                mutually agreed upon forum.
            (2) Such country fails to act in good faith in recognizing 
        as binding or in enforcing arbitral awards in favor of United 
        States citizens or a corporation, partnership, or association 
        which is 50 percent or more beneficially owned by United States 
        citizens, which have been made by arbitrators appointed for 
        each case or by permanent arbitral bodies to which the parties 
        involved have submitted their dispute.

SEC. 2. DEFINITIONS.

    For purposes of this Act--
            (1) the term ``country'' means Colombia, or any other 
        country or customs territory, whether or not a member of the 
        World Trade Organization; and
            (2) the term ``trade agreement'' means any agreement 
        permitting accession to, or extending the benefits of, the 
        North America Free Trade Agreement (NAFTA), and any bilateral 
        free trade agreement.

                                 <all>
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