S.1563 - Sudan Disclosure and Enforcement Act of 2007110th Congress (2007-2008)
|Sponsor:||Sen. Durbin, Richard [D-IL] (Introduced 06/07/2007)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||06/07/2007 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: S.1563 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in Senate (06/07/2007)
Sudan Disclosure and Enforcement Act of 2007 - Expresses the sense of Congress that the President should bring before the U.N. Security Council a resolution requiring multilateral sanctions against the government of Sudan in response to its acts of genocide against the people of Darfur and its continued refusal to allow the implementation of a peacekeeping force.
Amends the Securities Exchange Act of 1934 to require specified securities issuers who are involved in the petroleum industry in Sudan to disclose to the Securities and Exchange Commission (SEC): (1) such activities if they result in annual gross receipts of $1 million or more; and (2) the geographic area within Sudan where such activities occurred, and specifically if such activities took place solely within Southern Sudan and designated areas.
Authorizes a national security waiver.
Terminates disclosure requirements if the Secretary of State: (1) determines that Sudan no longer supports acts of international terrorism; and (2) certifies to the appropriate congressional committees that Sudan has demonstrated significant improvement in protecting Darfur's civilian population.
Amends the International Emergency Economic Powers Act to increase civil penalties and establish criminal penalties for violations of such Act.
Authorizes additional appropriations for the Office of Foreign Assets Control to support intelligence gathering, licensing, compliance, and administrative activities associated with sanctions against Sudan and persons operating in Sudan.
Requires the President to publish notice in the Federal Register if specified sanctions have been terminated.
Amends the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007 to repeal specified reporting requirements respecting companies performing natural resource extraction activities, including oil-related activities and mining of minerals, in Sudan.