Summary: H.Res.995 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for H.Res.995. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/12/2006)

Expresses the sense of the House of Representatives that the U.S. government should: (1) support and participate in the Extractive Industries Transparency Initiative (EITI) and assist African countries in implementing EITI or in adopting resource revenue transparency policies; (2) work with the international community to develop a monitoring process for nonmining natural resources, such as timber; (3) require natural resource extraction companies to disclose natural resource revenue payments on a country-by-country basis; (4) consider a government's substantive efforts or failure to ensure revenue transparency for critical natural resource sectors when determining eligibility for U.S. trade preference programs; (5) support disclosure of resource revenues and ex-ante disclosure of foreign investment contracts underpinning extractive sector projects, making such disclosures a condition of support for financing by the United States Overseas Private Investment Corporation and the Export-Import Bank of the United States; and (6) work with international financial institutions to require resource revenue and contract transparency as a condition for lending or assistance to resource-rich developing countries.