This report notes three bills have been introduced about investments in South Africa. H.R. 12463, by Rep. Stephen Solarz and 20 co-sponsors, has two parts: a) prohibition on new investment in South Africa except reinvestment of profits; and b) requirement that major U.S. investors in S.A. abide by fair employment practices in order to be eligible for Eximbank financing, tax credits, export licenses for S.A., and federal contracts. H.R. 13273, by Rep. Charles Diggs and two co-sponsors, prohibits new investment and reinvestment of profits. H.R. 13262, by Rep. Bingham and one co-sponsor, prohibits new investment unless it is reinvestment of profits or unless the company is engaged in or give...
This report notes three bills have been introduced about investments in South Africa. H.R. 12463, by Rep. Stephen Solarz and 20 co-sponsors, has two parts: a) prohibition on new investment in South Africa except reinvestment of profits; and b) requirement that major U.S. investors in S.A. abide by fair employment practices in order to be eligible for Eximbank financing, tax credits, export licenses for S.A., and federal contracts. H.R. 13273, by Rep. Charles Diggs and two co-sponsors, prohibits new investment and reinvestment of profits. H.R. 13262, by Rep. Bingham and one co-sponsor, prohibits new investment unless it is reinvestment of profits or unless the company is engaged in or give assurances that it will engage in fair employment practices. All bills include private and public bank loans in definition of new investment. Contents: Bills that have been introduced • Legislative Situation • Summary of June 27th Hearing • Issues Raised by Committee Members • 1) Definition of discrimination • 2) Political realism and approach • 3) Impact of South African laws • 4) Reinvestment of profits ban • 5) Enforcement problems • Legislative Prospects • Action Suggestions • Subcommittee membership
