H.R.1886 - To prevent public financing of oil or gas field development projects, surveying or extraction activities, processing facilities, pipelines, or terminals, or other oil and gas production or distribution operations or facilities, and for other purposes.110th Congress (2007-2008)
|Sponsor:||Rep. Hinchey, Maurice D. [D-NY-22] (Introduced 04/17/2007)|
|Committees:||House - Financial Services; Foreign Affairs|
|Latest Action:||06/08/2007 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.|
This bill has the status Introduced
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: H.R.1886 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (04/17/2007)
Amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank of the United States from guaranteeing, insuring, or extending credit: (1) in connection with an oil or gas project; or (2) to any entity that may use the guarantee, insurance, or credit to finance such a project.
Amends the Foreign Assistance Act of 1961 to prohibit the Overseas Private Investment Corporation from issuing any contract of insurance or reinsurance or any guarantee, or entering into any financing agreement for an oil or gas project, or to taking such actions respecting any person who will insure or finance such project.
Amends the International Financial Institutions Act to direct the Secretary of the Treasury to use U.S. influence to oppose multilateral development institution assistance to gas or oil development projects.