S.972 - Nicaraguan Investment Conditionality Act (NICA) of 2017115th Congress (2017-2018)
|Sponsor:||Sen. Cruz, Ted [R-TX] (Introduced 04/27/2017)|
|Committees:||Senate - Foreign Relations|
|Latest Action:||Senate - 04/27/2017 Read twice and referred to the Committee on Foreign Relations. (All Actions)|
This bill has the status Introduced
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Summary: S.972 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (04/27/2017)
Nicaraguan Investment Conditionality Act (NICA) of 2017
This bill directs the President to instruct the U.S. Executive Director at each international financial institution to use U.S. influence to oppose any loan for the government of Nicaragua's benefit, other than for basic human needs or to promote democracy, unless the Department of State certifies that Nicaragua is taking effective steps to:
- hold free elections overseen by credible domestic and international electoral observers;
- promote democracy and an independent judicial system and electoral council;
- strengthen the rule of law;
- respect the right to freedom of association and expression;
- combat corruption, including investigating and prosecuting government officials credibly alleged to be corrupt; and
- protect the right of political opposition parties, journalists, trade unionists, human rights defenders, and other civil society activists to operate without interference.
The Department of the Treasury shall submit to Congress a report assessing: (1) the effectiveness of the international financial institutions in enforcing applicable program safeguards in Nicaragua, and (2) the effects of specified constitutional and election concerns in Nicaragua on long-term prospects for positive development outcomes there.
The President may waive such requirements in the U.S. national interest.
The bill requires: (1) the President to direct the U.S. Permanent Representative to the Organization of American States to use U.S. influence to advocate for an Electoral Observation Mission to be sent to Nicaragua in 2017, and (2) the State Department to report on the involvement of senior Nicaraguan government officials in acts of public corruption or human rights violations.