HR 1798

112th CONGRESS
1st Session

H. R. 1798

To prevent foreign states that do business, issue securities, or borrow money in the United States, and then fail to satisfy United States court judgments totaling $100,000,000 or more based on such activities, from inflicting further economic injuries in the United States, from undermining the integrity of United States courts, and from discouraging responsible lending to poor and developing nations by undermining the secondary and primary markets for sovereign debt.

IN THE HOUSE OF REPRESENTATIVES

May 6, 2011

Mr. MACK (for himself, Mr. KING of New York, Ms. LORETTA SANCHEZ of California, Mr. CARNAHAN, and Mrs. MALONEY) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned


A BILL

To prevent foreign states that do business, issue securities, or borrow money in the United States, and then fail to satisfy United States court judgments totaling $100,000,000 or more based on such activities, from inflicting further economic injuries in the United States, from undermining the integrity of United States courts, and from discouraging responsible lending to poor and developing nations by undermining the secondary and primary markets for sovereign debt.

SECTION 1. SHORT TITLE.

SEC. 2. STATEMENT OF PURPOSE.

SEC. 3. FINDINGS.

SEC. 4. DEFINITIONS.

SEC. 5. STATEMENT OF POLICY.

SEC. 6. BAR ON ACCESS TO UNITED STATES LENDERS AND INVESTORS.

SEC. 7. REQUESTS FOR AID OR ASSISTANCE FROM JUDGMENT EVADING FOREIGN STATES.

SEC. 8. REPORTS; RECOMMENDATIONS OF ADDITIONAL MEASURES.

END