Economic Sanctions Reform Act of 1999

Economic Sanctions Reform Act of 1999 - Declares that it is the purpose of this Act to establish an effective framework for consideration and enactment of unilateral economic sanctions legislation, and for the use of sanctions in order to ensure strong and effective use of such sanctions in pursuit of U.S. national interests while minimizing the associated adverse effects and costs imposed on U.S. businesses, exporters, farmers, and workers.

Declares that any new unilateral economic sanctions legislation should: (1) contain a statement of the foreign policy or national security objective of the United States; (2) provide authority for the President to refrain from imposing or to suspend or terminate a sanction if it is in the national interests of the United States; (3) authorize the President to target any such sanction as narrowly as appropriate; (4) not restrict humanitarian or human rights assistance or any agricultural commodity or medicine unless it is in the national interests of the United States; and (5) provide that the President shall review annually the effectiveness, and costs and gains to the United States of continued imposition, of such sanctions.

Sets forth certain guidelines and procedures for congressional consideration of any new unilateral economic sanction legislation.

Urges the President to: (1) adopt guidelines comparable to those contained in this Act that would apply to executive branch imposition of any unilateral economic sanctions; and (2) establish procedures for informing the U.S. public of significant developments in the formulation of U.S. policy with respect to such sanctions.

Authorizes the President, under specified circumstances, to refrain from imposing, or suspend or terminate, a unilateral economic sanction.