Darfur Accountability and Divestment Act

Bill: 110-hr-180
Sponsor: Rep. Lee, Barbara [D-CA-9]
Introduced: 2007-01-04 in the House
Policy area: International Affairs
Subjects: Africa (Sub-Saharan)
American investments
Armed Forces and National Security
Arms sales
Business ethics
Civil service retirement
Colleges
Commemorations
Commerce
Commercial blacklisting
Congress
Congress and foreign policy
Congressional investigations
Congressional oversight
Congressional reporting requirements
Congressional tributes
Corporate accountability
Corporate reorganizations
Crime and Law Enforcement
Economics and Public Finance
Education
Energy
Foreign Trade and International Finance
Genocide
Government Operations and Politics
Government contractors
Government procurement
Government publicity
Higher education
Information disclosure (Securities law)
Labor and Employment
Local finance
Mines and mineral resources
Mining engineering
Petroleum
Petroleum refineries
Pipelines
President and foreign policy
Prospecting
Public Lands and Natural Resources
Radar
Sanctions (International law)
Science, Technology, Communications
State finance
State-sponsored terrorism
Subsidiary corporations
Sudan
Technology transfer
Transportation and Public Works

Summary:
action_date: 2007-01-04
text: 
Darfur Accountability and Divestment Act of 2007 - Supports state, city, and university efforts to divest funds from, or restrict investments in, companies that conduct business operations in Sudan. 
 
Directs: (1) the Securities and Exchange Commission (SEC) to require all companies trading in registered securities that conduct business operations directly or through parent or subsidiary companies in Sudan to disclose the nature of such operations; and (2) the Government Accountability Office (GAO) to investigate the existence and extent of such companies' Federal Retirement Thrift Investment Board investments.
 
Prohibits U.S. government contracts with such companies, with exceptions for companies whose activities are related to: (1) southern Sudan, southern Kordofan/Nuba Mountains State, Blue Nile State, or Abyei; (2) the implementation of the 2006 Darfur Peace Agreement; (3) the provision of military equipment for nongovernmental organizations in the Darfur region of Sudan, the African Union Mission in Sudan (AMIS), or the United Nations; or (4) the provision of humanitarian assistance that is of immediate and substantial benefit to the majority of people of the Darfur region of Sudan or the majority of people of eastern Sudan, including the Red Sea, Kassala, and Gedaref States. 
 
Authorizes a national security waiver of such prohibition on a case-by-case basis. 

action_date: 2007-07-31
text: Darfur Accountability and Divestment Act of 2007 - (Sec. 3) Directs the Secretary of the Treasury to ensure the publication every six months in the Federal Register of a list of all persons (as defined by this Act) who have a direct investment in or are conducting business operations in Sudan's power production, mineral extraction, oil-related, or military equipment industries. 
Sets forth excluded business operations, including operations with: (1) the regional government of southern Sudan; (2) maginalized populations of Sudan; and (3) peacekeeping or humanitarian organizations.
 
(Sec. 4) States that it is U.S. policy to support state and local efforts to divest funds from, or restrict investments in, companies that conduct business operations in Sudan. 
 
Authorizes state or local government divestment in such companies.
 
(Sec. 5) Expresses the sense of Congress that a divestment measure authorized or a measure to prohibit state or local contracts would not violate the United States Constitution because such a measure: (1) is not pre-empted under the Supremacy Clause; (2) is authorized by the Congress as an appropriate measure with regard to interstate or foreign commerce; and (3) is authorized by the Congress as a measure that promotes U.S. foreign policy.
 
(Sec. 6) Amends the Investment Company Act of 1940 to provide a safe harbor from civil, criminal, or administrative action for a registered investment company and its officials and employees based upon the investment company's divesting from or not investing in a company that is on the list as provided for under section 3 this Act.
 
(Sec. 7) Amends the Employee Retirement Income Security Act of 1974 to provide a safe harbor for employee benefit plan employees based upon the plan's divesting from or not investing in a company that is on such list. 
 
(Sec. 8) Prohibits the U.S. government from contracting or renewing a contract for goods or services with a company that is on such list. Authorizes the President to waive such prohibition for national security reasons.
 
(Sec. 9) States that it is U.S. policy to support any state or local government decision to prohibit state or local government contracting for goods or services with a company that is on such list.
 
Authorizes a state or local government to prohibit such contracts.
 
(Sec. 10) Defines specified terms.
 
(Sec. 11) Expresses the sense of Congress that other governments should adopt measures similar to those contained in this Act to publicize the activities of persons and entities whose financial dealings enable the government of Sudan to commit genocide against people in the Darfur region and other regions of Sudan, and to authorize divestment from, and the avoidance of further investment in, such persons and entities.
 
(Sec. 12) Sets forth the conditions under which this Act shall terminate.
 


Legislative actions:
action_date: 2007-08-03
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2007-08-01
text: Received in the Senate.
action_date: 2007-07-31
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 418 - 1 (Roll no. 764). (text: CR H8843-8846)
action_date: 2007-07-31
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2007-07-31
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 418 - 1 (Roll no. 764).(text: CR H8843-8846)
action_date: 2007-07-31
text: Considered as unfinished business. (consideration: CR H9210-9211)
action_date: 2007-07-30
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2007-07-30
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 180.
action_date: 2007-07-30
text: Considered under suspension of the rules. (consideration: CR 7/31/2007 H8843-8855)
action_date: 2007-07-30
text: Mr. Frank (MA) moved to suspend the rules and pass the bill, as amended.
action_date: 2007-07-26
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2007-07-26
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-07-26
text: Sponsor introductory remarks on measure. (CR H8623)
action_date: 2007-03-20
text: Subcommittee Hearings Held.
action_date: 2007-03-20
text: Referred to the Subcommittee on Government Management, Organization, and Procurement.
action_date: 2007-03-16
text: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
action_date: 2007-03-16
text: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
action_date: 2007-01-04
text: Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, 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: 2007-01-04
text: Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, 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: 2007-01-04
text: Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, 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: 2007-01-04
text: Introduced in House
action_date: 2007-01-04
text: Introduced in House