States that it shall be U.S. policy to: (1) undertake measures to deny the Cuban regime the financial resources to engage in activities that threaten U.S. national security and other interests, threaten the environment and natural resources of northern Cuba and Florida, and prolong the dictatorship that oppresses the Cuban people; and (2) deter foreign investments that would enhance the Cuban regime's ability to develop its petroleum resources.
Amends the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 to exclude from U.S. entry an alien who: (1) is an officer or principal of an entity, or a shareholder who owns a controlling interest in an entity that makes an investment (as defined by this Act) of $1 million or more (or any combination of investments that equals or exceeds $1 million in any 12-month period), that significantly contributes to Cuba's ability to develop petroleum and natural gas resources off its north coast; or (2) is a spouse, minor child, or agent of such person.
Exempts on a case-by-case basis entries: (1) for medical reasons or property-related litigation; or (2) where a transition government is in place.
Defines "investment" for purposes of this Act.
Directs the President to impose two or more specified export, procurement, financial institution, loan, or Export-Import Bank sanctions if the President determines that a person has made an investment of $1 million or more (or any combination of investments that in the aggregate equals or exceeds $1 million in any 12-month period) that contributes to the enhancement of Cuba's ability to develop petroleum resources of the submerged lands of Cuba's northern coast.
[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 2795 Introduced in Senate (IS)]
109th CONGRESS
2d Session
S. 2795
To exclude from admission to the United States aliens who have made
investments contributing to the enhancement of the ability of Cuba to
develop its petroleum resources, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 11, 2006
Mr. Martinez introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To exclude from admission to the United States aliens who have made
investments contributing to the enhancement of the ability of Cuba to
develop its petroleum resources, 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. STATEMENT OF POLICY.
It shall be the policy of the United States to--
(1) undertake the necessary measures to deny the Cuban
regime the financial resources to engage in activities that
threaten--
(A) United States national security, its interests
and its allies;
(B) the environment and natural resources of the
submerged lands of Cuba's northern coast and Florida's
unique maritime environment; and
(C) that prolong the dictatorship that oppresses
the Cuban people; and
(2) deter foreign investments that would enhance the
ability of the Cuban regime to develop its petroleum resources.
SEC. 2. EXCLUSION OF CERTAIN ALIENS.
(a) In General.--The Cuban Liberty and Democratic Solidarity
(LIBERTAD) Act of 1996 (22 U.S.C. 6021 et seq.) is amended by inserting
after section 401 the following:
``SEC. 402. EXCLUSION FROM THE UNITED STATES OF ALIENS WHO CONTRIBUTE
TO THE ABILITY OF CUBA TO DEVELOP PETROLEUM RESOURCES OFF
OF CUBA'S NORTHERN COAST.
``(a) In General.--The Secretary of State shall deny a visa to, and
the Secretary of Homeland Security shall exclude from the United
States, any alien who the Secretary of State determines is a person
who--
``(1) is an officer or principal of an entity, or a
shareholder who owns a controlling interest in an entity, that,
on or after May 2, 2006, makes an investment that equals or
exceeds $1,000,000 (or any combination of investments that in
the aggregate equals or exceeds $1,000,000 in any 12-month
period), that contributes to the enhancement of Cuba's ability
to develop petroleum resources of the submerged lands of Cuba's
northern coast; or
``(2) is a spouse, minor child, or agent of a person
described in paragraph (1).
``(b) Waiver.--The Secretary of State may waive the application of
subsection (a) if the Secretary certifies and reports to the
appropriate congressional committees, on a case-by-case basis, that the
admission to the United States of a person described in subsection
(a)--
``(1) is necessary for critical medical reasons or for
purposes of litigation of an action under title III; or
``(2) is appropriate if the requirements of sections 203,
204, and 205 have been satisfied.
``(c) Definitions.--In this section:
``(1) Develop.--The term `develop', with respect to
petroleum resources, means the exploration for, or the
extraction, refining, or transportation by pipeline or other
means of, petroleum resources.
``(2) Investment.--The term `investment' means any of the
following activities if such activity is undertaken pursuant to
an agreement, or pursuant to the exercise of rights under such
an agreement, that is entered into with the Government of Cuba
(or any agency or instrumentality thereof) or a nongovernmental
entity in Cuba, on or after May 2, 2006:
``(A) The entry into a contract that includes
responsibility for the development of petroleum
resources of the submerged lands of Cuba's northern
coast, or the entry into a contract providing for the
general supervision and guarantee of another person's
performance of such a contract.
``(B) The purchase of a share of ownership,
including an equity interest, in that development.
``(C) The entry into a contract providing for the
participation in royalties, earnings, or profits in
that development, without regard to the form of the
participation.
``(D) The entry into, performance, or financing of
a contract to sell or purchase goods, services, or
technology related to that development.
``(3) Petroleum resources.--The term `petroleum resources'
includes petroleum and natural gas resources.''.
(b) Effective Date.--The amendment made by this section applies to
aliens seeking admission to the United States on or after the date of
the enactment of this Act.
SEC. 3. IMPOSITION OF SANCTIONS.
(a) In General.--The President shall impose two or more of the
sanctions described in subsection (b) if the President determines that
a person has, on or after May 2, 2006, made an investment that equals
or exceeds $1,000,000 (or any combination of investments that in the
aggregate equals or exceeds $1,000,000 in any 12-month period) that
contributes to the enhancement of Cuba's ability to develop petroleum
resources of the submerged lands of Cuba's northern coast.
(b) Sanctions Described.--The sanctions to be imposed on a
sanctioned person under this section are as follows:
(1) Export-import bank assistance for exports to sanctioned
persons.--The President may direct the Export-Import Bank of
the United States not to give approval to the issuance of any
guarantee, insurance, extension of credit, or participation in
the extension of credit in connection with the export of any
goods or services to any sanctioned person.
(2) Export sanction.--The President may order the United
States Government not to issue any specific license and not to
grant any other specific permission or authority to export any
goods or technology to a sanctioned person under--
(A) the Export Administration Act of 1979 (50
U.S.C. App. 2401 et seq.);
(B) the Arms Export Control Act (22 U.S.C. 2751 et
seq.);
(C) the Atomic Energy Act of 1954 (42 U.S.C. 2011
et seq.); or
(D) any other statute that requires the prior
review and approval of the United States Government as
a condition for the export or reexport of goods or
services.
(3) Loans from united states financial institutions.--The
United States Government may prohibit any United States
financial institution from making loans or providing credits to
any sanctioned person totaling more than $10,000,000 in any 12-
month period unless such person is engaged in activities to
relieve human suffering and the loans or credits are provided
for such activities.
(4) Prohibitions on financial institutions.--
(A) In general.--The following prohibitions may be
imposed against a sanctioned person that is a financial
institution:
(i) Prohibition on designation as primary
dealer.--Neither the Board of Governors of the
Federal Reserve System nor the Federal Reserve
Bank of New York may designate, or permit the
continuation of any prior designation of, such
financial institution as a primary dealer in
United States Government debt instruments.
(ii) Prohibition on service as a repository
of government funds.--Such financial
institution may not serve as agent of the
United States Government or serve as repository
for United States Government funds.
(B) Treatment of sanctions.--The imposition of
either sanction under clause (i) or (ii) of
subparagraph (A) shall be treated as one sanction for
purposes of this section, and the imposition of both
such sanctions shall be treated as two sanctions for
purposes of this section.
(5) Procurement sanction.--The United States Government may
not procure, or enter into any contract for the procurement of,
any goods or services from a sanctioned person.
(c) Person Defined.--In this section, the term ``person'' includes
a foreign subsidiary of a person referred to in subsection (a).
<all>
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsor introductory remarks on measure. (CR S4508-4509)
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