Bill Summary
This legislation aims to make technical corrections to the United States-Mexico-Canada Agreement Implementation Act, which pertains to international financial cooperation. The corrections include clarifying the roles of certain commissions and eliminating redundancy in the language around protective orders and dispute settlement. The amendments will take effect upon the enactment of the United States-Mexico-Canada Agreement Implementation Act. Additionally, the Secretary of the Treasury is given authority to subscribe to the North American Development Bank's capital stock, up to a certain amount, without fiscal year limitation.
Possible Impacts
1. The amendments made in subsection (c) could affect people by potentially changing the way disputes are settled in the United States, Mexico, and Canada. This could impact individuals who are involved in trade or other forms of international cooperation between these countries.
2. The new limitation on callable capital subscriptions in subsection (e) could affect people who work for or receive funding from the North American Development Bank. This could potentially limit the bank's ability to provide financial assistance to certain projects or organizations.
3. The technical corrections made in subsections (a) and (b) could affect people by potentially changing the way certain environmental cooperation commissions and protective orders are handled. This could impact individuals who are involved in these processes, such as government officials, attorneys, or individuals seeking protective orders.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6387 Introduced in House (IH)]
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116th CONGRESS
2d Session
H. R. 6387
To correct technical omissions relating to international financial
cooperation, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 25, 2020
Mr. Gonzalez of Texas introduced the following bill; which was referred
to the Committee on Financial Services, and in addition to the
Committee on 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
_______________________________________________________________________
A BILL
To correct technical omissions relating to international financial
cooperation, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. TECHNICAL CORRECTIONS.
(a) Environment Cooperation Commissions; North American Development
Bank.--Section 601 of the United States-Mexico-Canada Agreement
Implementation Act (Public Law 116-113; 134 Stat. 78) is amended by
inserting ``, other than sections 532 and 533 of such Act and part 2 of
subtitle D of title V of such Act (as amended by section 831 of this
Act),'' before ``is repealed''.
(b) Protective Orders.--Section 422 of the United States-Mexico-
Canada Agreement Implementation Act (134 Stat. 64) is amended in
subsection (a)(2)(A) by striking ``all that follows through `, the
administering authority''' and inserting ``all that follows through
`Agreement, the administering authority'''.
(c) Dispute Settlement.--Subsection (j) of section 504 of the
United States-Mexico-Canada Agreement Implementation Act (134 Stat. 76)
is amended in the item proposed to be inserted into the table of
contents of such Act relating to section 414 by striking
``determination'' and inserting ``determinations''.
(d) Effective Date.--Each amendment made by this section shall take
effect as if included in the enactment of the United States-Mexico-
Canada Agreement Implementation Act.
(e) North American Development Bank: Limitation on Callable Capital
Subscriptions.--The Secretary of the Treasury may subscribe without
fiscal year limitation to the callable capital portion of the United
States share of capital stock of the North American Development Bank in
an amount not to exceed $1,020,000,000. The authority in the preceding
sentence shall be in addition to any other authority provided by
previous Acts.
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