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H.R. 2798, The Overseas Private Investment Corporation Reauthorization Act of 2007
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
Comparing revision saved on July 25, 2007, 19:43:03 (webmaster), with revision saved on July 26, 2007, 18:23:07 (webmaster):
H.R. 2798 would reauthorize the programs of the Overseas Private Investment Corporation.
== Detailed Summary ==
<summary>
(Log in to editOverseas Private Investment Corporation Reauthorization Act of 2007 - Amends the wikiForeign Assistance Act of 1961 to extend Overseas Private Investment Corporation (OPIC) authority to make loans and be the firstissue investment insurance and investment guarantees.
Revises international worker rights provisions.
Requires OPIC to provideinstitute a detailed summaryclimate change mitigation action plan.
Prohibits OPIC from approving any contract for any project which significantly involves an extractive industry (as defined by this Act) without: (1) prior congressional notification; and (2) investor and host country agreement to implement Extractive Industries Transparency Initiative principles.
Prohibits OPIC from providing assistance for: (1) any railway connection that does not traverse or connect with Armenia and does connect Azerbaijan and Turkey; (2) a project with North Korea, Sudan, or Iran; or (3) an energy sector project of the bill!)$20 million or more.
Provides for increased project transparency.
Authorizes OPIC programs in Iraq.
</summary>
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== Status of the Legislation ==
<status>
Latest Major Action: 7/24/2007: Referred to Senate committee. Status: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
</status>
<!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. -->
== Points in Favor ==
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== Points Against ==
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