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![handle is hein.congrecreports/crptxafvv0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-327
NO RUSSIAN AGRICULTURE ACT
DECEMBER 19, 2023.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 4768]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4768) to require the Secretary of the Treasury to instruct
the United States Executive Directors at the international financial
institutions to advocate for investment in projects that decrease re-
liance on Russia for agricultural commodities, having considered
the same, reports favorably thereon with an amendment and rec-
ommends that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the No Russian Agriculture Act.
SEC. 2. UNITED STATES ADVOCACY FOR INVESTMENT IN PROJECTS THAT DECREASE RELI-
ANCE ON RUSSIA FOR AGRICULTURAL COMMODITIES.
(a) IN GENERAL.-Title XIV of the International Financial Institutions Act (22
U.S.C. 262n-262n-3) is amended by adding at the end the following:
SEC. 1405. ADVOCACY FOR INVESTMENT IN PROJECTS THAT DECREASE RELIANCE ON RUS-
SIA FOR AGRICULTURAL COMMODITIES.
(a) IN GENERAL.-The Secretary of the Treasury shall instruct the United States
Executive Director at each international financial institution (as defined in section
1701(c)(2)) to use the voice, vote, and influence of the United States, to the max-
imum extent practicable, to encourage the respective institution to-
(1) support projects that decrease the reliance of countries on Russia for agri-
cultural commodities, particularly fertilizer and grain;
(2) ensure the resilience of global grain supplies; and
(3) stimulate private investment in the projects.
(b) WAIVER AUTHORITY.-The Secretary of the Treasury may waive subsection (a)
with respect to a project upon notifying Congress that the waiver is in the national
interest of the United States..
(b) REPEAL.-Section 1405 of such Act, as added by this section, is repealed effec-
tive on the earlier of-
49-006](ViewImageLocal?handle=hein.congrecreports/crptxafvv0001&div=1&collection=&method=preview&ext=.png&size=3)