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S. 1119 103rd Congress Senate

Secured Payment Act of 1993

Official title: A bill to amend the International Emergency Economic Powers Act to provide for the payment of certain secured debts, and for other purposes.

Introduced: June 16, 1993 See on congress.gov
Finance and Financial Sector American investmentsClaimsDebtor and creditorForeign Trade and International Finance
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Government liability (International law)IraqSurety and fidelityWar and emergency powers
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This bill died when the 103rd Congress ended
It never became law before the 103rd Congress (1993–1994) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action June 16, 1993

Read twice and referred to the Committee on Banking.

 Plain-English summary Congressional Research Service

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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Murray, Patty
Washington · Jun 16, 1993
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1119: Secured Payment Act of 1993. 103rd Congress. Open America. https://openamerica.io/bill/103-S-1119/
MLA
"S. 1119: Secured Payment Act of 1993." 103rd Congress, 2026, Open America, https://openamerica.io/bill/103-S-1119/.
Bluebook (legal)
S. 1119, 103rd Cong. (2026), https://openamerica.io/bill/103-S-1119/.
Markdown link
[S. 1119: Secured Payment Act of 1993](https://openamerica.io/bill/103-S-1119/)
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