Summary: H.R.4996 — 102nd Congress (1991-1992)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Conference report filed in House (10/05/1992)

Jobs Through Exports Act of 1992 - Title I: Overseas Private Investment Corporation - Amends the Foreign Assistance Act of 1961 to require Overseas Private Investment Corporation (OPIC) contracts with investors to include provisions requiring investors to observe specified labor laws and prohibiting the use of forced labor.

Raises the ceiling on the maximum contingent liability allowed for OPIC insurance and outstanding guarantees.

Authorizes OPIC to transfer amounts from a noncredit account revolving fund to pay subsidy costs of program levels for the loan and loan guarantee programs. Permits OPIC to draw specified amounts for FY 1993 and 1994 from such fund for administrative costs of the direct loan and loan guarantee programs. Repeals a provision establishing the Direct Investment Fund. Prescribes monetary and criminal penalties for fraudulent activities involving OPIC.

Requires investors receiving OPIC financing to certify to OPIC that any contract for the export of goods for a financed project will require U.S. insurance companies to have a fair and competitive opportunity to provide insurance against risk of loss.

Title II: Trade and Development Agency - Redesignates the Trade and Development Program as the Trade and Development Agency. Requires the Agency to disseminate information about its activities to the private sector. Sets forth Agency auditing requirements. Authorizes appropriations for FY 1993 and 1994.

Declares that the Agency should increase the amount of funds it provides to multilateral development banks for technical assistance grants in FY 1993 and 1994.

Title III: Aid, Trade, and Competitiveness - Aid, Trade, and Competitiveness Act of 1992 - Requires the Administrator of the Agency for International Development (AID) to establish a capital projects office to: (1) develop a program that would focus solely on developmentally sound capital projects; and (2) consider opportunities for U.S. high-technology firms in supporting capital projects for developing countries and countries making the transition from nonmarket to market economies. Sets forth the activities of the capital projects office.

Directs the AID Administrator to develop a program that focuses on developmentally sound capital projects for basic infrastructure that will alleviate the worst manifestations of poverty or promote environmental safety and sustainability at the community level and provide funding for such projects.

Directs the President to report annually to the Congress on the extent to which: (1) U.S. Government resources have been expended to support capital projects and the extent of U.S. Government coordination; and (2) U.S. Government capital projects and tied-aid credit programs have affected U.S. exports.

Urges the President to use specified types and amounts of assistance for grants for capital projects.

Directs the President to report to specified congressional committees on the feasibility of allowing AID to offer credit guarantees for the financing of capital projects.

Title IV: United States Commercial Centers - Encourages the Secretary of Commerce to establish United States Commercial Centers in Asia, Latin America, and Africa to provide additional resources for the promotion of exports of U.S. goods and services to such countries.

Requires the Centers to make business facilities and services and commercial law information services available on a user fee basis.

Directs the Secretary to use the Market Development Cooperator Program to assist in carrying out the purposes of the Centers.

Authorizes appropriations.

Title V: Other Export Promotion Activities - Requires the Secretary of Commerce to appoint one or more procurement officers for each multilateral development bank to promote exports of U.S. goods and services by: (1) acting as liaisons between the business community and multilateral development banks; and (2) assuring that U.S. businesses are fully informed of bidding opportunities for multilateral development bank projects and that they can focus on projects in which they have a particular interest or competitive advantage. Directs the Secretary to ensure that such officers make special efforts to disseminate information on proposed projects to small- and medium-sized businesses.

Authorizes appropriations.

Title VI: Enterprise for the Americas Initiative - Enterprise for the Americas Act of 1992 - Amends the Foreign Assistance Act of 1961 to support improvement in the lives of the people of Latin America and the Caribbean through market-oriented reforms and economic growth with actions to promote debt reduction, investment reforms, community based conservation and sustainable use of the environment, and child survival and child development. Makes eligible for Enterprise for the Americas Facility (established pursuant to the Agricultural Trade Development and Assistance Act of 1954) benefits Latin American or Caribbean countries that: (1) have democratically-elected governments; (2) have not provided support for international terrorism; (3) are not failing to cooperate on international narcotics control matters; (4) do not engage in a consistent pattern of human rights violations; (5) have in effect, received approval for, or are making progress toward, specified International Monetary Fund (IMF) arrangements and structural or sectoral adjustment loans from the International Bank for Reconstruction and Development or the International Development Association; (6) have put in place major investment reforms in conjunction with an Inter-American Development Bank loan or are implementing or making progress toward an open investment regime; and (7) have agreed with commercial bank lenders on a financing program for debt or debt service reduction.

Authorizes the President to reduce the amount owed to the United States (as a result of concessional loans made pursuant to the Foreign Assistance Act of 1961 or predecessor foreign economic assistance legislation) by any country eligible for Facility benefits.

Sets forth requirements with respect to the exchange of obligations, repayment of principal, and interest on new obligations issued by beneficiary countries.

Requires beneficiary countries that enter into Americas Framework Agreements to establish Enterprise for the Americas Funds. Authorizes the Secretary of State to enter into Americas Framework Agreements concerning the operation and use of Americas Funds with countries eligible for Facility benefits. Directs administering bodies in each beneficiary country to administer the Americas Funds and to make grants. Requires grants from the Funds to be used for activities that link the conservation and sustainable use of natural resources with local community development and for child survival and development activities. Subjects grants of more than $100,000 to veto by the U.S. Government or the government of the beneficiary country.

Redesignates the Environment for the Americas Board (established pursuant to the Agricultural Trade Development and Assistance Act of 1954) as the Enterprise for the Americas Board. Requires the Board to: (1) advise the Secretary on the negotiations of Americas Framework Agreements; (2) ensure that a suitable administering body is identified for each Americas Fund; and (3) review the programs, operations, and fiscal audits of administering bodies.

Directs the Secretary to determine the most appropriate location for the International University for the Americas (established to promote strengthening of democratic institutions in the Western Hemisphere and to commemorate the 500th anniversary of the discovery of the Americas by Christopher Columbus).

Earmarks development and economic support assistance for the University.

Title VII: Trade Promotion Expansion - Authorizes appropriations for placing and maintaining 20 additional Commercial Service Officers abroad in: (1) countries with which the United States has the largest trade deficit; and (2) in newly emerging market economy countries with democratically elected governments in Central and Eastern Europe and elsewhere.

Title VIII: General Provisions - Prohibits funds under this Act from being obligated or expended for: (1) any financial incentive to a business enterprise located in the United States for purposes of inducing such enterprise to relocate outside the United States if such incentive is likely to reduce the number of employees in the United States because U.S. production is being replaced outside the United States; or (2) any project that contributes to the violation of internationally recognized workers' rights of workers in the recipient country.