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US HB2325

Bill

Status

Introduced

3/25/2025

Primary Sponsor

Bill Huizenga

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Origin

House of Representatives

119th Congress

AI Summary

  • Withholds U.S. support for any IMF action relating to Central African Economic Monetary Community (CEMAC) member states until the IMF clarifies that site rehabilitation funds from oil companies cannot count toward gross foreign exchange reserves

  • Prohibits the President or any U.S. agency from voting to approve IMF actions for CEMAC states, and directs opposition to any IMF quota increases or exceptional access policy modifications for these countries

  • Addresses a 2018 BEAC (Bank of Central African States) regulation requiring extractive industry companies to repatriate restoration funds, with a compliance deadline of April 30, 2025 and 150% penalties starting May 1, 2025

  • Standard & Poor's estimates the BEAC regulation will reduce CEMAC government revenue by $86 billion and capital investment by $45 billion by 2050

  • Requires Treasury Secretary to report to Congress within 30 days of making the required determination, or within 180 days of enactment if no determination is made

Legislative Description

CEMAC Act Central African Exploitation and Manipulation of American Companies Act

International affairs

Last Action

Referred to the House Committee on Financial Services.

3/25/2025

Committee Referrals

Financial Services3/25/2025

Full Bill Text

No bill text available