Summary: H.R.1221 — 103rd Congress (1993-1994)All Information (Except Text)

There is one summary for H.R.1221. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/04/1993)

Debt for Democracy Act of 1993 - Authorizes the President to reduce the amount of qualifying debt owed to the U.S. Government by, and make donations of grain to, an independent state of the former Soviet Union that enters into an agreement to: (1) dismantle nuclear weapons or other military-related objects and facilities; or (2) grant an equity interest in a state-owned enterprise equal to the amount of debt reduction to a nongovernmental business entity in the United States that agrees to repay the amount of debt that has been reduced.

Defines a "qualifying debt" as a debt resulting from activities under authority of the Secretary of Agriculture, the Commodity Credit Corporation, or any Department of Agriculture entity.