Shrimp Importation Financing Fairness Act

Bill: 108-hr-155
Sponsor: Rep. Paul, Ron [R-TX-14]
Introduced: 2003-01-07 in the House
Policy area: International Affairs
Subjects: Administrative procedure
American investments
Animals
Commerce
Congress
Congressional reporting requirements
Department of Commerce
Developing countries
Export finance
Exports
Fisheries
Foreign Trade and International Finance
Foreign loans
Government Operations and Politics
Government regulation
Gulf of Mexico
International monetary system
Investment guaranty insurance
Law
Marine and coastal resources, fisheries
Marine resources conservation
Sanctions (International law)
Shellfish
Turtles

Summary:
action_date: 2003-01-07
text: Shrimp Importation Financing Fairness Act - Prohibits the Secretary of Commerce from imposing any new restrictive regulations on the domestic shrimping industry within the area that is under the jurisdiction of the Gulf of Mexico Fishery Management Council.
Prohibits the Overseas Private Investment Corporation from issuing any contract of insurance or reinsurance or any guaranty, or from entering into any agreement to provide financing for a project undertaken or to be undertaken in a country which exported more than 20 million pounds (excessive amounts) of shrimp to the United States in the first six months of 2002, until three months after it has reduced its shrimp exports to less than three million pounds per month for three consecutive months.
Requires the Secretary of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund to use the voice, vote, and influence of the United States to oppose providing assistance to any foreign country that exported excessive amounts of shrimp to the United States in the first six months of 2002, until it fulfills the requirements of this Act.
Authorizes the Secretary to reduce the amount of U.S. contributions to the Fund according to a specified formula if, during the first such three-month period, the Fund provides assistance to any such country.
Prohibits the Export-Import Bank of the United States from providing assistance to any country that exported excessive amounts of shrimp to the United States in the first six months of 2002, until it fulfills the requirements of this Act.

Legislative actions:
action_date: 2003-02-27
text: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
action_date: 2003-02-12
text: Executive Comment Requested from Commerce.
action_date: 2003-02-12
text: Referred to the Subcommittee on Fisheries Conservation, Wildlife and Oceans.
action_date: 2003-01-07
text: Referred to the Committee on Financial Services, and in addition to the Committees on Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-01-07
text: Referred to the Committee on Financial Services, and in addition to the Committees on Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-01-07
text: Referred to the Committee on Financial Services, and in addition to the Committees on Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-01-07
text: Referred to the Committee on Financial Services, and in addition to the Committees on Resources, and International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-01-07
text: Sponsor introductory remarks on measure. (CR E4)
action_date: 2003-01-07
text: Introduced in House
action_date: 2003-01-07
text: Introduced in House