[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3577 Introduced in House (IH)]







104th CONGRESS
  2d Session
                                H. R. 3577

To oppose the provision of assistance to the People's Republic of China 
              by any international financial institution.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              June 4, 1996

   Mr. Solomon (for himself, Mr. Gilman, and Mr. Cox of California) 
 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 the 
        Memorandum of Understanding with the United States regarding 
        intellectual property rights, signed in March 1995; 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.
                                 <all>