A bill to exclude from admission to the United States aliens who have made investments contributing to the enhancement of the ability of Cuba to develop its petroleum resources, and for other purposes.

Bill: 110-s-876
Sponsor: Sen. Martinez, Mel [R-FL]
Introduced: 2007-03-14 in the Senate
Policy area: International Affairs
Subjects: Admission of nonimmigrants
Aliens
Armed Forces and National Security
Caribbean area
Commerce
Congress
Congressional oversight
Congressional reporting requirements
Contracts
Corporation directors
Corporations
Cuba
Dictators
Energy
Energy development
Energy transportation
Environmental Protection
Executives
Export controls
Export finance
Families
Finance and Financial Sector
Financial institutions
Florida
Foreign Trade and International Finance
Foreign investments
Gas in submerged lands
Gas industry
Government Operations and Politics
Government procurement
Government securities
Immigration
Investments
Investors
Latin America
Loans
Marine and coastal resources, fisheries
Marine ecology
Married people
Natural gas
Oil and gas leases
Oil and gas royalties
Oil well drilling
Petroleum
Petroleum in submerged lands
Petroleum industry
Pipelines
Prospecting
Public Lands and Natural Resources
Sanctions (International law)
Science, Technology, Communications
Stockholders
Subsidiary corporations
Technology transfer
Transportation and Public Works
Visas

Summary:
action_date: 2007-03-14
text: 
States that it shall be U.S. policy to: (1) undertake measures to deny the Cuban regime the financial resources to engage in activities that threaten U.S. national security and other interests, threaten the environment and natural resources of northern Cuba and Florida, and prolong the dictatorship that oppresses the Cuban people; and (2) deter foreign investments that would enhance the Cuban regime's ability to develop its petroleum resources. 
 
Amends the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 to exclude from U.S. entry an alien who: (1) is an officer or principal of an entity, or a shareholder who owns a controlling interest in an entity that makes an investment (as defined by this Act) of $1 million or more (or any combination of investments that equals or exceeds $1 million in any 12-month period), that significantly contributes to Cuba's ability to develop petroleum and natural gas resources off its north coast; or (2) is a spouse, minor child, or agent of such person.
 
Exempts on a case-by-case basis entries: (1) for medical reasons or property-related litigation; or (2) where a transition government is in place.
 
Defines &quot;investment&quot; for purposes of this Act.
 
Directs the President to impose two or more specified export, procurement, financial institution, loan, or Export-Import Bank sanctions if the President determines that a person has made an investment of $1 million or more (or any combination of investments that in the aggregate equals or exceeds $1 million in any 12-month period) that contributes to the enhancement of Cuba's ability to develop petroleum resources of the submerged lands of Cuba's northern coast.


Legislative actions:
action_date: 2007-03-14
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2007-03-14
text: Introduced in Senate