7 U.S.C. § 1738q — Notification to congressional committees
submitted 72 years ago by Pub. L. 102-532 to r/title-7-AGRICULTURE · 201 words · no verdicts yet
This section requires notice to designated congressional committees before debt-relief negotiations and before agreements take effect. It also requires an annual statement of budget effects and defines those committees.
(a) Negotiations.—Whenever feasible, the Secretary* of State and Treasury must notify the designated congressional committees at least 15 days before formal negotiations for debt relief under this subchapter.
(b) Agreement text.—At least 30 days before an agreement with a foreign government that would produce such debt relief takes effect, the Secretary of State must send the committees its text and a detailed explanation of the United States’ interest in the proposed relief.
(c) Annual report.—By February 1 each year, the Secretary of State or Treasury, as appropriate, must send the committees a consolidated statement of the budget effects of all such agreements that took effect during the previous fiscal year.
(d) Designated committees.—They are the House Committees on Agriculture and Foreign Affairs and the Senate Committee on Agriculture, Nutrition, and Forestry.
The Secretary* of State and the Secretary of the Treasury shall, in every feasible instance, notify the designated congressional committees not less than 15 days prior to any formal negotiation for debt relief under this subchapter.
The Secretary of State shall transmit to the designated congressional committees a copy of the text of any agreement with any foreign government which would result in any debt relief under this subchapter no less than 30 days prior to its entry into force, together with a detailed justification of the interest of the United States in the proposed debt relief.
The Secretary of State or the Secretary of the Treasury, as appropriate, shall submit to the designated congressional committees not later than February 1 of each year a consolidated statement of the budgetary implications of all debt relief agreements entered into force under this subchapter during the preceding fiscal year.
As used in this section, the term “designated congressional committees” means the Committee on Agriculture and the Committee on Foreign Affairs of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate.
Source credit: (July 10, 1954, ch. 469, title VI, § 618, as added Pub. L. 102–532, § 2, Oct. 27, 1992, 106 Stat. 3511.)
- 1954Enacted · Pub. L. 102-532 · 106 Stat. 3511
A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-532 on 1954-07-10.
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