Promoting Secure 5G Act of 2021
Bill: H.R.4493 | Sponsor: Rep. Timmons, William R. IV (R-SC)
Policy area: Science, Technology, Communications

Summary:
Promoting Secure 5G Act of 2021
This bill requires the Department of the Treasury to instruct the U.S. Executive Director at each international financial institution (e.g., the International Monetary Fund or the International Finance Corporation) that it is U.S. policy to

To direct the Secretary of the Treasury to instruct the United States 
  Executive Directors at the international financial institutions on 
  United States policy regarding international financial institution 
       assistance with respect to advanced wireless technologies.

    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 ``Promoting Secure 5G Act of 2021''.

SEC. 2. UNITED STATES POLICY REGARDING INTERNATIONAL FINANCIAL 
              INSTITUTION ASSISTANCE WITH RESPECT TO ADVANCED WIRELESS 
              TECHNOLOGIES.

    (a) In General.--The Secretary of the Treasury (in this section 
referred to as the ``Secretary'') shall instruct the United States 
Executive Director at each international financial institution (as 
defined in section 1701(c)(2) of the International Financial 
Institutions Act) that it is the policy of the United States to--
            (1) support assistance by the institution with respect to 
        advanced wireless technologies (such as 5th generation wireless 
        technology for digital cellular networks and related 
        technologies) only if the technologies provide appropriate 
        security for users;
            (2) proactively encourage assistance with respect to 
        infrastructure or policy reforms that facilitate the use of 
        secure advanced wireless technologies; and
            (3) cooperate, to the maximum extent practicable, with 
        member states of the institution, particularly with United 
        States allies and partners, in order to strengthen 
        international support for such technologies.
    (b) Waiver Authority.--The Secretary may waive subsection (a) on a 
case-by-case basis, on reporting to the Committee on Financial Services 
of the House of Representatives and the Committee on Foreign Relations 
of the Senate that the waiver--
            (1) will allow the United States to effectively promote the 
        objectives of the policy described in subsection (a); or
            (2) is in the national interest of the United States, with 
        an explanation of the reasons therefor.
    (c) Progress Report.--The Chairman of the National Advisory Council 
on International Monetary and Financial Policies shall include in the 
annual report required by section 1701 of the International Financial 
Institutions Act a description of progress made toward advancing the 
policy described in subsection (a) of this section.
    (d) Sunset.--The preceding provisions of this section shall have no 
force or effect after the earlier of--
            (1) the date that is 7 years after the date of the 
        enactment of this Act; or
            (2) the date that the Secretary reports to the committees 
        specified in subsection (b) that terminating the effectiveness 
        of the provisions is important to the national interest of the 
        United States, with a detailed explanation of the reasons 
        therefor.
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