Summary: H.R.12463 — 95th Congress (1977-1978)All Information (Except Text)

There is one summary for H.R.12463. Bill summaries are authored by CRS.

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Introduced in House (05/01/1978)

Amends the Export Administration Act to prohibit United States persons from making investments in South Africa, other than those consisting soley of earnings derived from existing enterprises and made in such enterprises. Imposes fines of up to $1,000,000 for violations of this Act.

Prohibits United States persons with major investments in South Africa from: (1) receiving licenses for exports to South Africa; (2) entering into Federal Government contracts; (3) receiving income tax credits for South African taxes; or (4) using Export-Import Bank services, if engaged in unfair employment practices or if not listed on the roster established by this Act. Establishes the mechanism for enforcement of such prohibitions. Establishes an Advisory Board to recommend policy with respect to the exercise of the authority granted under this Act.

Requires persons having major investments, as defined in this Act, to notify the Administrator designated by the President to carry out the Act's provisions. Requires the Administrator to establish a roster of all persons complying with required employment practices. Prescribes procedures for findings of unfair employment practices and for enforcement of violations.