Promoting transparency of natural resource revenues in resource-rich developing countries to help combat corruption, encouraging democracy and accountable government in such countries, and ensuring energy security through a more stable operating environment in such countries.

Summary

Expresses the sense of the House of Representatives that the U.S. government should: (1) support and participate in the Extractive Industries Transparency Initiative (EITI) and assist African countries in implementing EITI or in adopting resource revenue transparency policies; (2) work with the international community to develop a monitoring process for nonmining natural resources, such as timber; (3) require natural resource extraction companies to disclose natural resource revenue payments on a country-by-country basis; (4) consider a government's substantive efforts or failure to ensure revenue transparency for critical natural resource sectors when determining eligibility for U.S. trade preference programs; (5) support disclosure of resource revenues and ex-ante disclosure of foreign investment contracts underpinning extractive sector projects, making such disclosures a condition of support for financing by the United States Overseas Private Investment Corporation and the Export-Import Bank of the United States; and (6) work with international financial institutions to require resource revenue and contract transparency as a condition for lending or assistance to resource-rich developing countries.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 September 2006

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 September 2006

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 September 2006

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.