PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Foreign Affairs.
Congressional Research Service
Version 00 · Introduced in House · Mar 22, 2023
Latin America and Caribbean Nearshoring Act
This bill provides assistance to Latin American and Caribbean countries (generally excluding Cuba and Venezuela) to strengthen their critical mineral and energy supply chains, promote economic development, and advance good governance.
The bill requires the U.S. International Development Finance Corporation to provide loans, equity investments, insurance, and other assistance to support the efforts of eligible countries to secure their critical mineral and energy supply chains from the control and influence of China. The corporation must also provide this assistance for other purposes such as promoting private sector long-term economic development, advancing good governance, and encouraging investment in energy infrastructure and critical mineral mining.
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The bill also authorizes the President to sell nuclear reactors to these countries if such a sale will not threaten U.S. national security and if certain other conditions are met (such as the purchasing country taking steps to reduce economic dependence on China).
Cuba and Venezuela shall be ineligible for assistance under this bill until the Department of State certifies to Congress that the relevant country's government has taken certain actions, such as (1) holding free and fair elections, (2) upholding human rights, and (3) taking significant steps to privatize its economy.
People & committees
Rep. Green, Mark E. [R-TN-7] · R–TN
Legislative record
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Referred to the House Committee on Foreign Affairs.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jul 24, 2024. Consult Congress.gov for the current record.
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