H.Res. 995 — 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.

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Legislative Actions

2006-09-12
Introduced in House
2006-09-12
Introduced in House
2006-09-12
Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, and Ways and Means, 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.
2006-09-12
Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, and Ways and Means, 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.
2006-09-12
Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, and Ways and Means, 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.
2006-09-12
Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, and Ways and Means, 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.
2006-10-18
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

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.

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