Save Our Shrimpers Act

Bill: 118-hr-7932
Sponsor: full_name: Rep. Nehls, Troy E. [R-TX-22]
Introduced: 2024-04-10
Policy area: Foreign Trade and International Finance
Latest action: action_date: 2024-04-10
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2024-04-10
action_desc: Introduced in House
text: <p><strong>Save Our Shrimpers Act</strong></p><p>This bill prohibits federal funds from being made available to international financial institutions (e.g., the International Monetary Fund) for financing activities related to foreign shrimp farms. The bill also requires an annual report on compliance by U.S. leadership of international financial institutions with policies to oppose financing for certain commodities or minerals.</p><p>Specifically, the bill requires the Department of the Treasury to condition any provision of federal funds to an international financial institution on the requirement that the funds not be used to finance any activity related to shrimp farming, shrimp processing, or the export of shrimp in any foreign country.</p><p>Under current law, Treasury must instruct U.S. leadership of international financial institutions to oppose providing financial assistance for the production or extraction of any commodity or mineral for export if (1) the commodity or mineral is in surplus on world markets, and (2) the export of such commodity or mineral will cause substantial injury to U.S. producers of&nbsp;a&nbsp;competing commodity or mineral (or of the same or a similar commodity or mineral). This bill requires the Government Accountability Office to investigate and annually report to Congress on the extent to which U.S. leadership at these institutions have carried out Treasury's instructions.</p>

tv_txt: I 118th CONGRESS 2d Session H. R. 7932 IN THE HOUSE OF REPRESENTATIVES April 10, 2024 Mr. Nehls (for himself, Mr. Higgins of Louisiana , Mr. Vicente Gonzalez of Texas , Mr. Graves of Louisiana , Mr. Ezell , Mr. Moore of Alabama , Ms. Mace , Mr. Donalds , Mr. Weber of Texas , Mr. Babin , Mr. Fry , Mrs. Luna , Ms. Letlow , and Mr. Bilirakis ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit Federal funds from being made available to international financial institutions for the purposes of financing foreign shrimp farms, and for other purposes.

1. Short title This Act may be cited as the Save Our Shrimpers Act . 2. Prohibition on making Federal funds available to international financial institutions to finance foreign shrimp farms The Secretary of the Treasury shall condition any provision of Federal funds to an international financial institution (as defined in section 1701(c)(2) of the International Financial Institutions Act) on the requirement that the funds not be used to finance any activity relating to shrimp farming, shrimp processing, or the export of shrimp in any foreign country. 3. Annual GAO report on compliance by the United States Executive Directors at certain international financial institutions with instruction to oppose international financial institution assistance for the production or extraction of export commodities or minerals in surplus on world markets Within 180 days after the date of the enactment of this Act and annually thereafter, the Comptroller General shall investigate, and submit to the Congress a written report on, the extent to which the United States Executive Directors at the institutions specified in section 22 of the Export-Import Bank Act Amendments of 1986 have carried out the instructions described in such section.