S 1119
103th Congress
Senate
Finance and Financial Sector
American investments
Claims
Debtor and creditor
Foreign Trade and International Finance
Government liability (International law)
Iraq
Surety and fidelity
War and emergency powers
Secured Payment Act of 1993
Introduced: June 16, 1993
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 16, 1993
Read twice and referred to the Committee on Banking.
Jun 16, 1993
Sponsor introductory remarks on measure. (CR S7383)
Jun 16, 1993
Introduced in Senate
Plain-English summary
Secured Payment Act of 1993 - Amends the International Emergency Economic Powers Act to prohibit the President from regulating or prohibiting, in the exercise of emergency economic powers, payments under irrevocable letters of credit issued by a U.S. or foreign bank of amounts owed to or for the benefit of a U.S. national that is the beneficiary of such a letter of credit and that performed its obligations under an underlying contract before the declaration of a national emergency. Makes such prohibition inapplicable to U.S. nationals found to have violated the Export Administration Act of 1979 or the Arms Export Control Act.
What's happening now
Read twice and referred to the Committee on Banking.
Committees of jurisdiction
1
Cosponsors
1