House Res. 87 To oppose the provision of assistance to the PRC
Congressional switchboard 1-800-972-3524
HR 87 IH
105th CONGRESS
1st Session
H. R. 87
To oppose the provision of assistance to the People's Republic of
China by any international financial institution.
IN THE HOUSE OF REPRESENTATIVES
January 7, 1997
Mr. SOLOMON introduced the following bill; which was referred to the Committee on Banking and Financial Services
A BILL
To oppose the provision of assistance to the People's Republic of
China by any international financial institution.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. POSITION OF THE UNITED STATES IN INTERNATIONAL FINANCIAL INSTITUTIONS REGARDING ASSISTANCE TO THE PEOPLE'S REPUBLIC OF CHINA.
The Secretary of the Treasury should instruct the United States Executive Director of each international financial institution (as defined in section 1701(c)(2) of the International Financial Institutions Act) to use the voice and vote of the United States to oppose the provision of any assistance, directly or indirectly, by the institution to the government of the People's Republic of China, any citizen or national of the People's Republic of China in the People's Republic of China, or any entity established in the People's Republic of China, unless there is in effect a certification to Congress by the President of the United States that--
(1) the government of the People's Republic of China respects internationally recognized human rights;
(2) the People's Republic of China has renounced the use of force as a means to resolving its differences with the Republic of China on Taiwan;
(3) the People's Republic of China is in strict compliance with all United States laws pertaining to nonproliferation of advanced weaponry and weapons of mass destruction;
(4) the People's Republic of China is abiding by all trade and financial agreements to which the People's Republic of China and the United States are parties; and
(5) the People's Republic of China is pursuing environmentally sound development practices.
SEC. 2. LIMITATION ON PROVISION OF FEDERAL FUNDS TO INTERNATIONAL
FINANCIAL INSTITUTIONS THAT PROVIDE ASSISTANCE TO THE PEOPLE'S
REPUBLIC OF CHINA.
If an international financial institution (as defined in section 1701(c)(2) of the International Financial Institutions Act) provides assistance, directly or indirectly, to the People's Republic of China, any citizen or national of the People's Republic of China in the People's Republic of China, or any entity established in the People's Republic of China, then the United States shall withhold from payment to the institution, from amounts that would otherwise be paid by the United States to the institution, the amount that the Secretary of the Treasury determines was the United States portion of the amount necessary to support the loans provided to the People's Republic of China by the institution during the preceding fiscal year of the institution, unless a certification described in section 1 of this Act is in effect.
