42 U.S.C. § 17374 — Transparency in extractive industries resource payments

(a) Purpose. The section seeks to improve United States energy security by combating corruption in foreign governments receiving natural-resource revenue and to strengthen democracy and political and economic stability in resource-rich countries. (b) Policy. United States policy is to promote anti-corruption efforts in oil- and gas-rich countries and global energy security through programs such as the Extractive Industries Transparency Initiative (EITI), which seeks transparency and accountability in extractive-industry payments. This section does not define “extractive industries resource payments.” (c) Sense of Congress. The United States should improve global energy security and democratic development by encouraging eligible countries and companies to participate in EITI and by making EITI more effective through a strong, candid review process. (d) Report. (1) Within 180 days after December 19, 2007, and every year afterward, the State^* Secretary^*, consulting the Energy Secretary, must report to the appropriate congressional committees^* on progress toward transparent extractive-industry payments. (2) The report must detail United States EITI participation, bilateral and multilateral diplomacy promoting participation, and other United States efforts to strengthen energy security, deter energy kleptocracy, and promote extractive-industry transparency. (e) Appropriation. $3,000,000 is authorized for United States contributions to EITI’s Multi-Donor Trust Fund.