In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
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Question: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Helping Effective Antibiotics Last
Act of 2015'' or the ''HEAL Act''.

SEC. 2. APPROVAL OF CERTAIN DRUGS FOR USE IN A WELL-DEFINED POPULATION
OF PATIENTS.

(a) Approval of Certain Antibacterial.--Section 505 of the Federal
Food, Drug, and Cosmetic Act (21 U.S.C. 355) is amended by adding at
the end the following:
''(x) Approval of Certain Antibacterial Drugs for Use in a Well-
Defined Population of Patients.--
''(1) Unmet medical need defined.--In this subsection, the
term 'unmet medical need' means that the antibacterial drug
involved--
''(A) has improved efficacy, as demonstrated in
adequate, well-controlled studies in humans, for
specific diseases or conditions, where current
therapies have been shown to be less effective;
''(B) has clinically meaningful decreased harms,
demonstrated in adequate, well-controlled studies in
humans, for diseases or conditions, where current
therapies have unacceptable adverse effects; or
''(C) has improved convenience, as demonstrated in
adequate, well-controlled studies in humans, where
improved convenience results in improved effectiveness
or decreased harms.
''(2) Approval.--Upon receipt of an application under
subsection (b) for an antibacterial drug that is intended to
treat a serious or life-threatening disease or condition,
irrespective of whether the drug is intended to address an
unmet medical need, the Secretary--
''(A) may approve the drug under subsection (c)
only for treating a well-defined population of
patients, and based upon the results of clinical trials
inclusive of human subjects representative of such
well-defined population;
''(B) in determining whether to grant such
approval, shall rely on superior outcomes over
available therapies based on direct measures of patient
benefits, as demonstrated in adequate, well-controlled
studies in the well-defined patient population, such
as--
''(i) decreased mortality;
''(ii) irreversible morbidity; or
''(iii) validated surrogate endpoints that
reflect mortality or irreversible morbidity;
and
''(C) shall require the labeling of drugs approved
pursuant to this subsection to prominently include in
the prescribing information required by section 201.57
of title 21, Code of Federal Regulations (or any
successor regulation)--
''(i) the population of patients with
respect to which the added benefit over
available therapies is expected as studied in
adequate, well-controlled studies that form the
basis for approval; and
''(ii) the method for identifying members
of that population.
''(3) Risk evaluation and mitigation strategy.--The
Secretary--
''(A) shall require a risk evaluation and
mitigation strategy (REMS) under section 505-1 for each
drug approved under this subsection; and
''(B) may include in any such strategy additional
elements to assure the safe use of the drug under
subsections (e) and (f) of section 505-1.
''(4) Rule of construction.--Nothing in this subsection
shall be construed to alter the standards of evidence under
subsection (c) or (d) (including the substantial evidence
standard in subsection (d)). Subsections (c) and (d) and such
standards of evidence apply to the review and approval of drugs
under this subsection, including whether a drug is safe and
effective. Nothing in this subsection shall be construed to
limit the authority of the Secretary to approve products
pursuant to this Act and the Public Health Service Act as
authorized prior to the date of enactment of this subsection.
''(5) Effective immediately.--The Secretary shall have the
authorities vested in the Secretary by this subsection
beginning on the date of enactment of this subsection,
irrespective of when and whether the Secretary promulgates
final regulations to carry out this subsection.''.
(b) Licensure of Certain Biological Products.--Section 351(j) of
the Public Health Service Act (42 U.S.C. 262(j)) is amended--
(1) by striking ''(j)'' and inserting ''(j)(1)'';
(2) by inserting ''505(x),'' after ''505(p),''; and
(3) by adding at the end the following:
''(2) In applying section 505(x) of the Federal Food, Drug, and
Cosmetic Act to the licensure of biological products under this
section--
''(A) references to an antibacterial drug with added
benefits over available therapies for a well-defined population
that is intended to treat a serious or life-threatening disease
or condition shall be construed to refer to biological products
with added benefits over available therapies for a well-defined
population intended to treat a bacterial infection associated
with a serious or life-threatening disease; and
''(B) references to an application submitted under section
505(b) of such Act and to approval of a drug under section
505(c) of such Act shall be construed to refer to an
application submitted under subsection (a) of this section and
to licensure of a biological product under such subsection (a),
respectively.''.
(c) Monitoring.--Title III of the Public Health Service Act is
amended by inserting after section 317T (42 U.S.C. 247b-22) the
following:

''SEC. 317U. MONITORING OF ANTIBACTERIAL DRUG USE, PATIENT OUTCOMES,
AND RESISTANCE.

''(a) Monitoring.--The Secretary, acting through the Director of
the Centers for Disease Control and Prevention, shall use the National
Healthcare Safety Network or another appropriate monitoring system to
monitor--
''(1) changes in patient outcomes such as mortality and
irreversible morbidity causally related to antibacterial
resistance; and
''(2) changes in bacterial resistance to drugs in relation
to patient outcomes.
''(b) Public Availability of Data.--The Secretary, acting through
the Director of the Centers for Disease Control and Prevention, shall
make the data derived from monitoring under this section publicly
available for the purposes of--
''(1) improving the monitoring of important trends in
patient outcomes in relation to antibacterial resistance; and
''(2) ensuring appropriate stewardship of antibacterial
drugs, including those receiving approval or licensure for a
well-defined population pursuant to section 505(x) of the
Federal Food, Drug, and Cosmetic Act.''.

SEC. 3. SUSCEPTIBILITY TEST INTERPRETIVE CRITERIA FOR MICROBIAL
ORGANISMS.

(a) In General.--Section 511 of the Federal Food, Drug, and
Cosmetic Act (21 U.S.C. 360a) is amended to read as follows:

''SEC. 511. SUSCEPTIBILITY TEST INTERPRETIVE CRITERIA FOR MICROBIAL
ORGANISMS.

''(a) In General.--The Secretary shall--
''(1) identify upon approval or licensing of antibacterial
drugs (including biological products intended to treat a
bacterial infection and other types of antimicrobial drugs, as
deemed appropriate by the Secretary), including qualified
infectious disease products, susceptibility test interpretive
criteria for such drugs based upon patient outcomes of
mortality and morbidity from adequate and well-controlled
studies and such other confirmatory evidence as the Secretary
deems necessary; and
''(2) update, consistent with subsection (b), such criteria
as needed based upon scientific evidence of changes in patient
outcomes.
''(b) Responding to Changes in Patient Outcomes To Evaluate
Susceptibility Test Interpretive Criteria.--
''(1) In general.--As needed based on evidence related to
changes in patient outcomes, the Secretary shall--
''(A) evaluate any new scientific studies on
changes in patient outcomes in relation to
susceptibility test interpretive criteria; and
''(B) publish on the public Website of the Food and
Drug Administration a notice--
''(i) presenting suggested new or updated
interpretive criteria; and
''(ii) if needed, hold a public advisory
committee to discuss scientific evidence
related to changes in interpretative criteria.
''(2) Annual compilation of notices.--Each year, the
Secretary shall compile the notices published under paragraph
(1)(B) noting any changes from prior notices and publish such
compilation in the Federal Register.
''(c) Definition.--In this section, the term 'susceptibility test
interpretive criteria' means one or more specific values which
characterize patient outcomes in relation to the degree to which
bacteria or other microbes are more resistant to treatment as measured
by patient outcomes.''.
(b) Conforming Amendment.--Section 1111 of the Food and Drug
Administration Amendments Act of 2007 (42 U.S.C. 247d-5a; relating to
identification of clinically susceptible concentrations of
antimicrobials) is repealed.
(c) Report to Congress.--Not later than one year after the date of
enactment of this Act, the Secretary of Health and Human Services shall
submit to the Committee on Energy and Commerce of the House of
Representatives and the Committee on Health, Education, Labor, and
Pensions of the Senate a report on the progress made in implementing
section 511 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C.
360a), as amended by this section.

SEC. 4. REQUIRING DEMONSTRATION OF SUPERIOR OUTCOMES FOR QUALIFIED
INFECTIOUS DISEASE PRODUCTS TO RECEIVE AN EXTENDED
EXCLUSIVITY PERIOD.

Section 505E(g) of the Federal Food, Drug, and Cosmetic Act (21
U.S.C. 355f(g)) is amended by striking ''means an antibacterial or
antifungal drug for human use intended to treat'' and inserting ''means
an antibacterial or antifungal drug for human use that is demonstrated
to produce superior outcomes over available therapies, based on direct
measures of patient benefits in clinical trials, and that is intended
to treat''.

SEC. 5. GUIDANCE ON TARGET PRODUCT PROFILES.

Not later than 18 months after the date of enactment of this Act,
the Commissioner of Food and Drugs, in consultation with the
Administrator of the Centers for Medicare & Medicaid Services, the
Director of the Indian Health Service, the Secretary of Defense, and
the Secretary of Veterans Affairs, shall issue guidance on the
development of target product profiles for novel antibacterial drugs
focused on public health priorities.

Answer: Helping Effective Antibiotics Last Act of 2015 or the HEAL Act This bill amends the Federal Food, Drug, and Cosmetic Act to allow the Food and Drug Administration (FDA) to approve an antibacterial drug or biological product that is intended to treat a serious or life-threatening condition only for treating a well-defined population of patients. To be approved, the antibacterial product must produce superior outcomes over available therapies in the well-defined patient population. A product approved by this pathway must include in its prescribing information the population of patients expected to benefit from using the product and the method for identifying members of that population. The FDA must require each product to have a risk evaluation and mitigation strategy. The Centers for Disease Control and Prevention must monitor changes to bacterial drug resistance and changes to patient outcomes caused by bacterial drug resistance. Upon approval of antibacterial products, the FDA must identify susceptibility test interpretive criteria (the drug concentrations where a type of bacteria is categorized as susceptible, intermediate, or resistant) and update the criteria as needed based upon evidence of changes in patient outcomes. To be eligible for an exclusivity period extension, a qualified infectious disease product must be demonstrated to produce superior outcomes over available therapies. The FDA must issue guidance on the development of target product profiles for antibacterial drugs.

Question: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Medical Device Cybersecurity Act of
2017''.

SEC. 2. CYBERSECURITY FOR MEDICAL DEVICES.

(a) In General.--Chapter V of the Federal Food, Drug, and Cosmetic
Act (21 U.S.C. 351 et seq.) is amended by inserting after section 520
(21 U.S.C. 360j) the following--

''SEC. 520A. CYBERSECURITY FOR DEVICES.

''(a) Definitions.--In this section:
''(1) Cyber device.--The term 'cyber device' means any
device that has network or Internet connectivity (such as near
field communication (NFC), Bluetooth, or WiFi), connects to an
external storage device or external media (such as a universal
serial bus (USB) or a compact disk), or has any other cyber
capability.
''(2) Cybersecurity fix or update.--The term 'cybersecurity
fix or update' means any modification to a cyber device that
addresses a software, firmware, or hardware error or known
vulnerability, or a security update, and does not change the
therapeutic or diagnostic function of the device.
''(b) Transparency of Risk Prior to Marketing.--
''(1) Report card.--
''(A) In general.--The Secretary, in coordination
with the entities described in subparagraph (B), shall
develop a report card for indicating the cybersecurity
functions of cyber devices. The report card shall
contain the contents described in paragraph (2) and be
disclosed in accordance with paragraph (3).
''(B) Coordination.--The entities described in this
subparagraph are the following:
''(i) The National Institute of Standards
and Technology.
''(ii) The Secretary of Homeland Security.
''(iii) The National Coordination Office
supporting the Networking and Information
Technology Research and Development Program.
''(iv) The Federal Trade Commission.
''(v) Any other relevant agency, or
cybersecurity or medical device industry group,
as determined by the Secretary.
''(2) Contents of report card.--Each report card shall
contain each of the following:
''(A) Information pertaining to all essential
elements described in the most recent version of the
Manufacturer Disclosure Statement for Medical Device
Security, as set forth by the Healthcare Information
and Management Systems Society and the National
Electrical Manufacturers Association.
''(B) A traceability matrix, accepted by the
Secretary, that--
''(i) redacts content that is confidential,
as determined by the Secretary; and
''(ii) establishes design components and
traces such components to design compensating
controls.
''(C) A description of any manufacturer
compensating controls that--
''(i) effectively address known common
vulnerabilities and exposures; and
''(ii) provide providers with industry
standard compensating controls for improving
cybersecurity.
''(D) A description of--
''(i) any cybersecurity evaluation
conducted on the device, including any testing,
validation, or verification of the device;
''(ii) who conducted such evaluation; and
''(iii) the results of such evaluation.
''(E) A cybersecurity risk assessment conducted by
the manufacturer, or a third party, explaining the risk
of the device to patient safety and clinical hazards.
''(F) An indication of whether the device is
capable of being remotely accessed. If the device is
capable of being remotely accessed, an indication of
any security measures and access protocols the device
has in place to secure such access.
''(3) Disclosure of report card.--
''(A) Clearance or approval.--The manufacturer of
any cyber device shall include the report card in any
notification to the Secretary under section 510(k) or
any application for premarket approval under section
515(c), as applicable.
''(B) Public accessibility.--
''(i) In general.--The Secretary shall
provide a copy of the report card to any entity
described in clause (ii) that submits a request
for such copy to the Secretary.
''(ii) Entities permitted access.--An
entity described in this clause is--
''(I) any health care industry
entity, consisting of any provider,
device manufacturer, the Federal
Government, health care information
security researchers, and health care
academia; and
''(II) any entity determined by the
Secretary to have a valid interest in
the report card.
''(C) Updated report card.--For as long as the
cyber device receives technical support from the
manufacturer or any other third party authorized by the
manufacturer, the manufacturer shall submit to the
Secretary an annual update to the report card.
''(c) Protecting Remote Access to Managed Solutions.--
''(1) In general.--A manufacturer of a cyber device shall:
''(A) In order to remotely access such device after
selling, or otherwise transferring ownership of, the
device, obtain consent for such access from the
provider owning or operating the device and from any
patient on which the device is used. Such consent may
be in the form of an agreement entered into between the
provider and the manufacturer at the time the device is
sold to the provider, and may be for the manufacturer
to remotely access the device at times specified in
such agreement or by an agreement between the
manufacturer and provider entered into thereafter. In
the case of an agreement described in the previous
sentence, consent of the patient may be obtained
through the provider notifying the patient of such
agreement.
''(B) For any cyber device that the manufacturer
may remotely access in accordance with subparagraph
(A):
''(i) Notify the provider when the
manufacturer accesses the device remotely,
including the name of the person with such
access, the kinds of tasks that can be
performed through such access, and the software
used to access the device. Such notification
can be in the form of an audit log described in
clause (ii) if the audit log is readily
available to the provider.
''(ii) Maintain an audit log for each time
the manufacturer accesses the device remotely
and make such log accessible to the provider.
''(C) Except as provided in paragraph (2), for any
cyber device that has the capability to be accessed
remotely by the manufacturer or any other entity:
''(i) Implement multi-factor authentication
for accessing any cyber capability of the
device.
''(ii) Secure data in motion and data at
rest with data encryption, and other best
practices, approved by the National Institute
of Standards and Technology.
''(iii) Install automated tools to track
access, or identify attempts at unauthorized
access, to any cyber capability of the device.
''(iv) Adopt whitelisting approaches and
changeable passwords for accessing any cyber
capability of the device.
''(v) Comply with the remote access
provisions recommended by the National
Institute of Standards and Technology, in the
document entitled 'Security for Telecommuting
and Broadband Communications (NIST Special
Publication 800-46)', published in August 2002.
''(2) Exceptions.--A manufacturer may submit a petition to
the Secretary to exempt a cyber device from any requirement
under paragraph (1)(C). The Secretary may grant such an
exemption if it determines that the manufacturer can prove the
exemption would pose not more than a minimal risk to patient
health, minimal risk to privacy, and minimal risk of a cyber
vulnerability.
''(d) Cybersecurity Fixes or Updates.--
''(1) Re-clearance or reapproval.--Unless at the request of
the Secretary due to a unique and extenuating circumstance, any
cybersecurity fix or update shall not require a new
notification under section 510(k) or application for premarket
approval under section 515(c).
''(2) Free cybersecurity fixes or updates.--A manufacturer
of a cyber device shall provide any cybersecurity fix or update
to the device free of charge until--
''(A) the date on which any agreement to provide
such fixes or updates, entered into between the
manufacturer (or a third party authorized by the
manufacturer) and a provider, expires; or
''(B) if no agreement described in subparagraph (A)
is in effect, the date that is 10 years after the date
on which the manufacturer discontinues marketing the
device.
''(e) End-of-Life Device.--Not later than 90 days after a
manufacturer declares that it will no longer sell a cyber device, the
manufacturer of such device shall--
''(1) shall provide any provider owning or operating the
device with the report card, as most recently updated under
subsection (b)(3)(C);
''(2) to the extent practicable, inform any provider owning
or operating the device that the manufacturer will no longer be
manufacturing such device;
''(3) provide notice to any provider owning or operating
the device of the date on which the last cybersecurity fix or
update will be provided by the manufacturer;
''(4) notify the Secretary of such declaration; and
''(5) provide any provider owning or operating the device
with the following information related to the device:
''(A) Compensating controls on how to securely
configure the cyber device if the device stays in
operation past the date on which the manufacturer stops
providing cybsecurity fixes or updates under subsection
(d)(2).
''(B) Documentation on secure preparation for
recycling and disposal of the device.
''(C) Specific guidance regarding supporting
infrastructure architecture, including network
segmentation and device isolation requirements.
''(D) Instructions on how to delete any personally
identifiable information, protected health information,
or other site-specific sensitive data such as
configuration files.
''(f) Applicability.--This section shall not apply with respect to
any cyber device for which, prior to the enactment of the Medical
Device Cybersecurity Act of 2017, a notification was submitted under
section 510(k), or for which an application for premarket approval was
submitted under section 515(c).''.
(b) Enforcement.--Section 301 of the Federal Food, Drug, and
Cosmetic Act (21 U.S.C. 331) is amended by adding at the end the
following:
''(eee) The failure to comply with subsection (b), (c), (d), or (e)
of section 520A.''.
(c) Expansion of ICS-CERT Responsibilities.--
(1) Definitions.--In this subsection:
(A) Cyber device.--The term ''cyber device'' has
the meaning given the term in section 520A of the
Federal Food, Drug, and Cosmetic Act, as added by
subsection (a).
(B) ICS-CERT.--The term ''ICS-CERT'' means the
Industrial Control Systems Cyber Emergency Response
Team of the National Cybersecurity and Communications
Integration Center established under section 227 of the
Homeland Security Act of 2002 (6 U.S.C. 148).
(C) Under secretary.--The term ''Under Secretary''
means the Under Secretary appointed under section
103(a)(1)(H) of the Homeland Security Act of 2002 (6
U.S.C. 113(a)(1)(H)).
(2) Expansion.--Not later than 180 days after the date of
enactment of this Act, the Under Secretary shall expand the
duties and mission of ICS-CERT to include--
(A) investigating cybersecurity vulnerabilities of
cyber devices that may cause harm to human life or
significant misuse of personal health information, as
determined necessary by ICS-CERT or at the request of
the Under Secretary; and
(B) coordinating device-specific responses to
cybersecurity incidents and vulnerabilities with
respect to cyber devices.
(3) Consultation.--In carrying out paragraph (2), the Under
Secretary shall consult with relevant agencies within the Food
and Drug Administration, the Department of Health and Human
Services, the National Institute of Standards and Technology,
the National Coordination Office for Networking and Information
Technology Research and Development, the Federal Trade
Commission, and experts in the cybersecurity and medical device
industries.
(4) Coordinated disclosure.--Not later than 6 months after
the date of enactment of this Act, the Secretary of Homeland
Security shall issue rules relating to the coordinated
disclosure of controlled and uncontrolled cybersecurity
vulnerabilities of cyber devices, which shall--
(A) outline the roles and responsibilities of ICS-
CERT and manufacturers and providers of cyber devices;
(B) provide timelines for all required actions; and
(C) provide for the enforcement of cooperation
between ICS-CERT and manufacturers and providers of
cyber devices.
(5) Report.--Not later than 1 year after the date of
enactment of this Act, the Under Secretary shall submit to
Congress a report detailing the expanded duties and mission of
ICS-CERT under paragraph (2).

Answer: Medical Device Cybersecurity Act of 2017 This bill amends the Federal Food, Drug, and Cosmetic Act to require the Food and Drug Administration (FDA), in coordination with others,to create a cybersecurity report card for devices that have network or Internet connectivity, connect to an external drive or external media, or have any other cyber capability. Report cards must contain specified information, including: (1) information pertaining to the essential elements described in the most recent version of the Manufacturer Disclosure Statement for Medical Device Security, (2) a cybersecurity risk assessment conducted by the manufacturer or third party, and (3) whether the device is capable of being accessed remotely. A cyber device manufacturer must includea report card in any premarket notification or application for premarket approval. TheFDA shall provide a copy of a device's report cardif requestedby a health care industry entity or an entity with a valid interest in the report card. The bill establishes procedures, including notifications toproviders and patients,for manufacturerswhen cyber devices areremotely accessed or no longer going to be sold. Fixes and updates to cyber devices must be free of charge for specified time periods. The bill expands the responsibilities of the Department of Homeland Security'sIndustrial Control Systems Cyber Emergency Response Team to include investigating cybersecurity vulnerabilities of cyber devices that may cause harm to human life or the significant misuse of personal health information, and coordinating device-specific responses.

Question: SECTION 1. LIMITATION ON DISBURSEMENTS FROM THE EXCHANGE STABILIZATION
FUND TO CERTAIN COUNTRIES.

Section 5302 of title 31, United States Code, is amended by adding
at the end the following new subsection:
''(e) Limitation on Disbursements to Countries Not in Compliance
With Certain IMF Commitments.--
''(1) In general.--Notwithstanding any other provision of
this section and subject to paragraph (2), the Secretary of the
Treasury may not make any expenditure or loan, incur any other
obligation, or make any guarantee in excess of $500,000,000
through the stabilization fund, for the purpose of engaging in
a coordinated international rescue plan for any foreign entity
or any government of a foreign country, unless the Secretary
certifies to the Congress that such foreign country is meeting
its commitments to the International Monetary Fund with respect
to economic, market access, and financial reforms.
''(2) Aggregation rule.--For purposes of determining
whether the amount of any expenditure, loan, obligation, or
guarantee described in paragraph (1) with respect to any
foreign entity or government of a foreign country exceeds the
amount of the limitation imposed in such paragraph, the
Secretary of the Treasury shall take into account the aggregate
amount of all expenditures, loans, obligations, or guarantees
which have been made or incurred through the stabilization fund
with respect to such country for the purpose described in such
paragraph during the 6-month period preceding the date such
expenditure, loan, obligation, or guarantee is made or
incurred.''.

SEC. 2. REPORT TO THE CONGRESS ON ACTIONS BY THE UNITED STATES TO
MONITOR FOREIGN GOVERNMENT COMPLIANCE WITH COMMITMENTS
MADE TO THE IMF IN CONNECTION WITH FINANCIAL ASSISTANCE
PACKAGES.

(a) In General.--Not less frequently than semiannually, the
Secretary of the Treasury shall submit to the Congress a report on the
steps that the United States Government is taking to monitor the
compliance of foreign governments in Asia with commitments made to the
International Monetary Fund in connection with financial assistance
packages provided or arranged by the International Monetary Fund.
(b) Certain Matters To Be Included.--Each report required by
subsection (a) shall include--
(1) a description of the actions that the United States
Executive Director at the International Monetary Fund has taken
to ensure that the International Monetary Fund adequately and
effectively monitors and enforces the commitments referred to
in subsection (a); and
(2) a description of the actions that the Department of the
Treasury has taken, in coordination with actions of the Office
of the United States Trade Representative or the Department of
Commerce, to monitor and enforce the commitments.

SEC. 3. MONITORING OF EFFECTS OF THE ASIAN FINANCIAL CRISIS ON THE
UNITED STATES AND OTHER ECONOMIES.

(a) Commerce Department Report on Compliance by Asian Countries
With Obligations Under International Agreements.--In coordination with
the United States Trade Representative, the Secretary of Commerce shall
monitor the progress that countries in Asia receiving financial
assistance described in section 1 or 2 are making in implementing
commitments they have made under international agreements to provide
access to their markets for foreign goods and services. The Secretary
shall report to the Congress the results of such monitoring on a
bimonthly basis, beginning not later than 90 days after the date of the
enactment of this Act, until the financial assistance for each such
Asian country has been terminated. Each such report shall include the
following:
(1) A description of the progress made in resolving issues
in dispute in the investigation initiated by the United States
Trade Representative under section 301(b)(1) of the Trade Act
of 1974 on October 1, 1997, pursuant to section 310 of that
Act, in which tariff and nontariff barriers imposed by the
Republic of Korea were identified as denying United States and
other foreign automobiles access to markets in Korea.
(2) A description of the progress made by the Republic of
Korea in implementing its obligations under the United States-
Korea Memorandum of Understanding of 1995 concerning trade in
motor vehicles.
(3) A description of the extent to which Indonesia is
complying with its commitments to terminate benefits to its
''National Car'' program.
(4) A description of the degree to which the countries have
fully implemented reforms required by the International
Monetary Fund that are directed at corporate governance and
corporate structure, including--
(A) making nontransparent conglomerate practices
more transparent through the application of
internationally accepted accounting practices,
independent external audits, full disclosure, and provision of
consolidated statements; and
(B) ensuring that no government subsidized support
or tax privileges will be provided to prevent the
financial failure of individual corporations,
particularly in the semiconductor, steel, motor
vehicle, and paper industries.
(5) A description of the implementation of reform measures
required by the International Monetary Fund to deregulate and
privatize economic activity by ending domestic monopolies,
undertaking trade liberalization, and opening up restricted
areas of the economy to foreign investment and competition.
(6) A detailed description of the trade policies of the
countries, including any unfair trade practices or adverse
effects of the trade policies on the United States.
With regard to instances identified by the Secretary in which a country
in Asia addressed in the report has failed to implement its obligations
under international agreements to provide access to its markets for
foreign goods and services, the Secretary, together with the United
States Trade Representative, shall take appropriate action under the
laws of the United States and under international dispute settlement
procedures to enforce United States rights as a result of such failure.
(b) Commerce Department Report on Third Country Actions To Accept
Increased Asian Exports.--The Secretary of Commerce shall monitor
exports of goods and services from those countries in Asia receiving
financial assistance described in section 1 or 2 to determine the
degree to which Japan, the countries of the European Union, and other
major participants in the International Monetary Fund are opening their
markets to any increase in those exports. The Secretary shall report to
the Congress the results of such monitoring on a bimonthly basis,
beginning not later than 90 days after the date of the enactment of
this Act, until the financial assistance for each such Asian country
has been terminated. The Secretary, together with the Secretary of the
Treasury and the United States Trade Representative, shall take all
appropriate action that would result in those countries opening their
markets to exports from those Asian countries in order to more
equitably share the burden of responding to the financial crisis in
Asia.
(c) Commerce Department Report on Export Surges to the United
States.--The Secretary of Commerce shall monitor exports from those
countries in Asia receiving financial assistance described in section 1
or 2 to the United States to determine whether there is any significant
increase in exports to the United States due to fluctuations in
currency valuations, government subsidies, dumping, or transshipment
through third countries. In conducting such monitoring, the Secretary
shall take into account any outstanding antidumping and countervailing
duty determinations on imports from those Asian countries. The
Secretary shall report to the Congress the results of such monitoring
on a bimonthly basis, beginning not later than 90 days after the date
of the enactment of this Act, until the financial assistance for each
such Asian country has been terminated. The Secretary shall take
appropriate action under the laws of the United States where there is
evidence of dumping or subsidization causing injury to United States
industries.
(d) Consultation With Industry.--In carrying out the requirements
of this section, the Secretary shall consult with representatives of
import-sensitive United States industries for the purpose of sharing
and confirming information and views that are relevant to the
monitoring and reports required by this section.
(e) Report on Effect of Financial Assistance.--The Secretary of
Commerce, in consultation with the United States Trade Representative,
shall report to the Congress annually, beginning not later than one
year after the date of the enactment of this Act, concerning the extent
to which financial assistance described in section 1 or 2 is
contributing to economically sound financial, open market, trade, and
commercial relations between each country in Asia receiving such
assistance and other countries.

SEC. 4. FULL ENFORCEMENT OF TRADE LAW REMEDIES.

(a) Study.--To ensure the effectiveness of United States remedies
against dumped and subsidized imports, the Secretary of Commerce shall
conduct a study, in consultation with import-sensitive United States
industries, to determine the appropriate application of United States
antidumping and countervailing duty laws to imports from Asian
countries, in light of currency devaluations and financial assistance
described in section 1 or 2 that those countries have received. Such
study shall--
(1) determine the appropriate treatment of rapid
fluctuations in exchange rates that can severely reduce the
price of goods sold in an exporter's home market (when
converted to United States dollars) so that such fluctuations
do not undermine the effectiveness of United States antidumping
laws;
(2) determine the appropriate treatment under United States
countervailing duty laws of the difference between the interest
rates on government-induced low-interest loans and the interest
rates, if higher, that private lenders would demand for loans
to the foreign companies concerned, taking into account the
current levels of risk; and
(3) determine the appropriate treatment under United States
countervailing duty laws of subsidies received in the past,
even if the exporter or other producer of the subsidized
merchandise has been sold or privatized or has declared
bankruptcy.
(b) Report to Congress.--The Secretary of Commerce shall complete
the study conducted under subsection (a), and submit to the Congress a
report on the study, by not later than 6 months after the date of the
enactment of this Act.

SEC. 5. SUNSET.

The provisions of this Act shall cease to be effective 8 years
after the date of the enactment of this Act.

Answer:
Amends Federal law governing the Department of the Treasury Exchange Stabilization Fund to prohibit the Secretary of the Treasury from making any expenditure or loan, incurring any other obligation, or making any guarantee over $500 million through the Fund for the purpose of engaging in a coordinated international rescue plan for any foreign entity or foreign government, unless the Secretary certifies to the Congress that such country is meeting its commitments to the International Monetary Fund (IMF) with respect to economic, market access, and financial reforms. Requires the Secretary to report semiannually to the Congress on Federal actions to monitor foreign governments in Asia with respect to their compliance with their commitments regarding IMF financial assistance packages.
Directs the Secretary of Commerce, in coordination with the United States Trade Representative, to monitor and report bimonthly to the Congress on the progress made by specified Asian countries regarding their international commitments to provide access to their markets for foreign goods and services.
Requires the Secretary of Commerce also to monitor exports from such countries to determine: (1) the degree to which major IMF participants, including Japan, are opening their markets to any export increases; and (2) whether there is any significant increase in exports to the United States due to currency fluctuations, government subsidies, dumping, or transshipment through third countries.
Requires the Secretary of Commerce to: (1) report annually to the Congress on the extent to which financial assistance is contributing to economically sound financial, open market, trade, and commercial relations between recipient Asian countries; and (2) study and report to the Congress on the appropriate application of Federal antidumping and countervailing duty laws to Asian imports in light of currency devaluations and IMF financial assistance packages.