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United States · Bill · S

S. 1758 (105th)

Tropical Forest Conservation Act of 1998

openUnited States· United States Congress· EN

Introduced

13 March 1998

Last action

14 July 1998 · Floor

Status

Returned to the Calendar. Calendar No. 420. (consideration: CR S8157)

Sponsors

Sen. Lugar, Richard G. [R-IN], Sen. Biden, Joseph R., Jr. [D-DE], Sen. Chafee, John H. [R-RI], Sen. Leahy, Patrick J. [D-VT], Sen. Abraham, Spencer [R-MI], Sen. Akaka, Daniel K. [D-HI], Sen. Allard, Wayne [R-CO], Sen. Craig, Larry E. [R-ID], Sen. Cochran, Thad [R-MS], Sen. DeWine, Mike [R-OH], Sen. Glenn, John H., Jr. [D-OH], Sen. Harkin, Tom [D-IA], Sen. Inhofe, James M. [R-OK], Sen. Jeffords, James M. [I-VT], Sen. Johnson, Tim [D-SD], Sen. Kerrey, J. Robert [D-NE], Sen. Kerry, John F. [D-MA], Sen. Kempthorne, Dirk [R-ID], Sen. Levin, Carl [D-MI], Sen. Moynihan, Daniel Patrick [D-NY], Sen. Murkowski, Frank H. [R-AK], Sen. Bingaman, Jeff [D-NM], Sen. Hatch, Orrin G. [R-UT], Sen. Daschle, Thomas A. [D-SD], Sen. Murray, Patty [D-WA], Sen. Faircloth, Lauch [R-NC], Sen. Lieberman, Joseph I. [ID-CT], Sen. Hagel, Chuck [R-NE], Sen. Dorgan, Byron L. [D-ND], Sen. Sessions, Jeff [R-AL], Sen. Helms, Jesse [R-NC], Sen. Dodd, Christopher J. [D-CT], Sen. Inouye, Daniel K. [D-HI]

Subjects

Environment, Taxation

Source updated

7 April 2025

Environment · Taxation

Official sourceDownload fileView documentsShare

Summary

Tropical Forest Conservation Act of 1998 - Amends the Foreign Assistance Act of 1961 to establish a Tropical Forest Facility in the Department of the Treasury to provide for the administration of debt reduction in accordance with this Act. Makes eligible for Facility benefits developing countries with tropical forests that: (1) meet certain requirements applicable to Latin American and Caribbean countries for eligibility for Enterprise for the Americas Facility benefits; and (2) have put in place major investment reforms, as evidenced by the conclusion of a bilateral investment treaty with the United States, implementation of an investment sector loan with the Inter-American Development Bank, World Bank-supported investment reforms, or other appropriate measures. Authorizes the President to: (1) reduce debt owed to the United States (outstanding as of January 1, 1998) by eligible countries as a result of concessional loans made under the Foreign Assistance Act of 1961 or predecessor foreign economic assistance legislation or credits extended under the Agricultural Trade Development and Assistance Act of 1954; and (2) sell to any eligible purchaser any concessional loans or credits or, on receipt of payment from an eligible purchaser, reduce or cancel such loans or credits (or portion thereof), only for the purpose of facilitating a debt-for-nature swap or debt buyback (by an eligible country of its own qualified debt) to support activities to preserve or restore tropical forests. Authorizes appropriations. Authorizes the Secretary of State to enter into a Tropical Forest Agreement with any eligible country concerning the operation and use of the Tropical Forest Fund which any eligible country must establish in order to receive payments of interest on new obligations issued under this Act. Requires the use of Funds to provide grants to preserve, maintain, and restore tropical forests in beneficiary countries. Provides that grants shall be made to: (1) nongovernmental environmental, conservation, and indigenous peoples organizations in beneficiary countries; (2) other appropriate local or regional entities; and (3) governments of such countries, in exceptional circumstances. Makes grants of more than $100,000 subject to veto by the U.S. Government or the government of the beneficiary country. Directs the Enterprise for the Americas Board established under the Agricultural Trade Development and Assistance Act of 1954 (in addition to its other required duties) to: (1) advise the Secretary of State on the negotiations of Tropical Forest Agreements; (2) ensure that a suitable administering body is identified for each Fund; and (3) review the programs, operations, and fiscal audits of each administering body. Requires the President to report annually to the Congress on the Facility.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 13 March 1998

    Introduced

    Read twice and referred to the Committee on Foreign Relations.

    Source: IntroReferral

  2. 13 March 1998

    Introduced

    Sponsor introductory remarks on measure. (CR S1951-1952)

    Source: IntroReferral

  3. 13 March 1998

    Introduced

    Introduced in Senate

    Source: IntroReferral

  4. 19 May 1998

    Reported

    Committee on Foreign Relations. Ordered to be reported with amendments favorably.

    Source: Committee

  5. 22 June 1998

    Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 420.

    Source: Calendars

  6. 22 June 1998

    Reported

    Committee on Foreign Relations. Reported to Senate by Senator Helms with amendments. With written report No. 105-219.

    Source: Committee

  7. 22 June 1998

    Reported

    Committee on Foreign Relations. Reported to Senate by Senator Helms with amendments. With written report No. 105-219.

    Source: Committee

  8. 14 July 1998

    Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S8152-8157)

    Source: Floor

Votes

No vote records are attached yet.

Versions

Documents

6 official files

Reported to Senate (text)

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  • Reported to Senate (text)

    Reported to Senate · EN · 22 June 1998

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  • Reported to Senate (PDF)

    Reported to Senate · EN · 22 June 1998

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  • Reported to Senate with amendment(s)

    summary · EN · 22 June 1998

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 13 March 1998

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  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 13 March 1998

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  • Introduced in Senate

    summary · EN · 13 March 1998

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Sponsors

Related records

Sources

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