2012 US Code
Title 42 - The Public Health and Welfare
Chapter 152 - ENERGY INDEPENDENCE AND SECURITY (§§ 17001 - 17386)
Subchapter VIII - INTERNATIONAL ENERGY PROGRAMS (§§ 17321 - 17374)
Part C - Miscellaneous Provisions (§§ 17371 - 17374)
Section 17374 - Transparency in extractive industries resource payments
Publication Title | United States Code, 2012 Edition, Title 42 - THE PUBLIC HEALTH AND WELFARE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 42 - THE PUBLIC HEALTH AND WELFARE CHAPTER 152 - ENERGY INDEPENDENCE AND SECURITY SUBCHAPTER VIII - INTERNATIONAL ENERGY PROGRAMS Part C - Miscellaneous Provisions Sec. 17374 - Transparency in extractive industries resource payments |
Contains | section 17374 |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 110-140, title IX, §935, Dec. 19, 2007, 121 Stat. 1748. |
Statutes at Large Reference | 121 Stat. 1748 |
Public Law Reference | Public Law 110-140 |
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The purpose of this section is to—
(1) ensure greater United States energy security by combating corruption in the governments of foreign countries that receive revenues from the sale of their natural resources; and
(2) enhance the development of democracy and increase political and economic stability in such resource rich foreign countries.
(b) Statement of policyIt is the policy of the United States—
(1) to increase energy security by promoting anti-corruption initiatives in oil and natural gas rich countries; and
(2) to promote global energy security through promotion of programs such as the Extractive Industries Transparency Initiative (EITI) that seek to instill transparency and accountability into extractive industries resource payments.
(c) Sense of CongressIt is the sense of Congress that the United States should further global energy security and promote democratic development in resource-rich foreign countries by—
(1) encouraging further participation in the EITI by eligible countries and companies; and
(2) promoting the efficacy of the EITI program by ensuring a robust and candid review mechanism.
(d) Report (1) Report requiredNot later than 180 days after December 19, 2007, and annually thereafter, the Secretary of State, in consultation with the Secretary of Energy, shall submit to the appropriate congressional committees a report on progress made in promoting transparency in extractive industries resource payments.
(2) Matters to be includedThe report required by paragraph (1) shall include a detailed description of United States participation in the EITI, bilateral and multilateral diplomatic efforts to further participation in the EITI, and other United States initiatives to strengthen energy security, deter energy kleptocracy, and promote transparency in the extractive industries.
(e) Authorization of appropriationsThere is authorized to be appropriated $3,000,000 for the purposes of United States contributions to the Multi-Donor Trust Fund of the EITI.
(Pub. L. 110–140, title IX, §935, Dec. 19, 2007, 121 Stat. 1748.)
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