Bill Summary & Status for the 107th Congress

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S.402
Title: A bill to make an exception to the United States embargo on trade with Cuba for the export of agricultural commodities, medicines, medical supplies, medical instruments, or medical equipment, and for other purposes.
Sponsor: Sen Baucus, Max [MT] (introduced 2/27/2001)      Cosponsors: 3
Related Bills: H.R.797
Latest Major Action: 2/27/2001 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
Jump to: Titles, Status, Committees, Related Bill Details, Amendments, Cosponsors, Summary
TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions)
2/27/2001:
Introductory remarks on measure. (CR S1632-1633)
2/27/2001:
Read twice and referred to the Committee on Finance.
COMMITTEE(S):
RELATED BILL DETAILS:  (additional related bills may be indentified in Status)

AMENDMENT(S):

***NONE***

COSPONSORS(3), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Sen Lincoln, Blanche - 2/27/2001 [AR] Sen Murray, Patty - 7/17/2001 [WA]
Sen Roberts, Pat - 2/27/2001 [KS]

SUMMARY AS OF:
2/27/2001--Introduced.

Cuban Humanitarian Trade Act of 2001 - Amends the Foreign Assistance Act of 1961 to exempt from the embargo on trade with Cuba (including prohibitions under the Cuban Democracy Act of 1992 against the unloading at a U.S. port of vessels that previously entered a Cuban port to engage in trade) the export of any agricultural commodity (including fertilizer), medicines, medical supplies, medical instruments, or medical equipment, or any travel incident to delivery of such items. Exempts the same items from certain authorities limiting trade with Cuba, including the President's authority restricting exports to Cuba under the Export Administration Act of 1979 or the International Emergency Economic Powers Act.

Amends the Trade Sanctions Reform and Export Enhancement Act of 2000 to repeal specified sections prohibiting: (1) U.S. Government assistance, including foreign and export assistance, U.S. credit or guarantees for exports to Cuba or for commercial exports to Iran, Libya, North Korea, or Sudan; and (2) the export of agricultural commodities (including the financing of their sale), medicine, or medical devices, and travel, to Cuba (effectively allowing the export of such commodities and travel to such country).

Amends the Cuban Democracy Act of 1992 to exempt the export by a country of agricultural commodities to Cuba from the prohibition against U.S. assistance to any country that provides assistance to Cuba.

Amends the Internal Revenue Code to terminate the denial of foreign tax credit with respect to income, war profits, or excess profits taxes paid to Cuba that are attributable to activities with respect to the permitted exports, or travel incident to such activities, under this Act.

Prohibits the Secretary of the Treasury from limiting the amount of remittances to Cuba that any U.S. person may make. Declares that this prohibition does not prohibit the prosecution or conviction of any person committing a criminal offense relating to the laundering of money or engagement in monetary transactions in property derived from unlawful activities.