[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1238 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                S. 1238

To make bills implementing trade agreements subject to a point of order 
       unless certain conditions are met, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                June 21 (legislative day, June 16), 2011

 Ms. Snowe (for herself and Mr. Rockefeller) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To make bills implementing trade agreements subject to a point of order 
       unless certain conditions are met, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Currency Exchange Rate Transparency 
Act''.

SEC. 2. LIMITATIONS ON BILLS IMPLEMENTING TRADE AGREEMENTS.

    (a) In General.--Notwithstanding section 151 of the Trade Act of 
1974 (19 U.S.C. 2191) or any other provision of law, any bill 
implementing a trade agreement between the United States and another 
country (or extending permanent normal trade relations) shall be 
subject to a point of order pursuant to subsection (c) unless--
            (1) the bill is accompanied by a Presidential certification 
        described in subsection (b); and
            (2) the bill contains a provision approving that 
        certification.
    (b) Certification.--
            (1) In general.--A certification described in this 
        subsection means a certification submitted by the President to 
        the Congress that, in the 10-year period preceding the 
        certification, the government of a country described in 
        paragraph (2) has not engaged in the intervention or 
        manipulation of the rate of exchange between that country's 
        currency and the United States dollar for purposes of 
        preventing effective balance of payments adjustments or gaining 
        unfair competitive advantage in international trade.
            (2) Country described.--A country described in this 
        paragraph is a country--
                    (A) with respect to which the United States is 
                entering into a trade agreement; or
                    (B) with respect to which the United States is 
                extending permanent normal trade relations
    (c) Point of Order in Senate.--
            (1) In general.--The Senate shall cease consideration of a 
        bill to implement a trade agreement (or to extend permanent 
        normal trade relations), if--
                    (A) a point of order is made by any Senator against 
                the bill because the bill is not accompanied by a 
                certification described in subsection (b); and
                    (B) the point of order is sustained by the 
                presiding officer.
            (2) Waivers and appeals.--
                    (A) Waivers.--Before the presiding officer rules on 
                a point of order described in paragraph (1), any 
                Senator may move to waive the point of order and the 
                motion to waive shall not be subject to amendment. A 
                point of order described in paragraph (1) is waived 
                only by the affirmative vote of a majority of the 
                Members of the Senate, duly chosen and sworn.
                    (B) Appeals.--After the presiding officer rules on 
                a point of order under this paragraph, any Senator may 
                appeal the ruling of the presiding officer on the point 
                of order as it applies to some or all of the provisions 
                on which the presiding officer ruled. A ruling of the 
                presiding officer on a point of order described in 
                paragraph (1) is sustained unless a majority of the 
                Members of the Senate, duly chosen and sworn, vote not 
                to sustain the ruling.
                    (C) Debate.--Debate on a motion to waive under 
                subparagraph (A) or on an appeal of the ruling of the 
                presiding officer under subparagraph (B) shall be 
                limited to 1 hour. The time shall be equally divided 
                between, and controlled by, the majority leader and the 
                minority leader of the Senate, or their designees.
                                 <all>