S.Amdt. 1281

SA 1281. Mr. BROWN submitted an amendment intended to be proposed to
amendment SA 1221 proposed by Mr. Hatch to the bill H.R. 1314, to amend
the Internal Revenue Code of 1986 to provide for a right to an
administrative appeal relating to adverse determinations of tax-exempt
status of certain organizations; which was ordered to lie on the table;
as follows:

On page 22, strike lines 1 through 14 and insert the
following:
(8) State-owned and state-controlled enterprises.--The
principle negotiating objectives of the United States
regarding competition by state-owned and state-controlled
commercial enterprises, including those enterprises for which
the share of the enterprise owned by the country is less than
50 percent, are--
(A) to require each state-owned or state-controlled
enterprise to act solely in a manner consistent with
commercial considerations in all investments, operations, and
other activities of the enterprise in the territory of a
country that is a party to the trade agreement and is not the
country that owns or controls the enterprise;
(B) to prohibit each country that is a party to the trade
agreement from providing to an enterprise that is owned or
controlled by that country any subsidies or other benefits--
(i) that are not generally available on commercial terms;
and
(ii) that provide an advantage to the enterprise or its
operations with respect to any investment, operation, or
other activity in the territory of another country that is a
party to the trade agreement;
(C) to not restrict temporary measures taken by a country
that is a party to the trade agreement that the country
determines are necessary to safeguard an essential economic
or security interest of that country;
(D) to require each country that is a party to the
agreement to make public an annual report with respect to
each enterprise that is owned or controlled by that country
and that invests in or conducts operations or other
activities in the territory of another country that is a
party to the trade agreement that--
(i) describes in detail the governing structure of the
enterprise;
(ii) identifies the share of the interests in the capital
structure of the enterprise that are held by the government
of that country;
(iii) identifies the members of the board of directors of
the enterprise; and
(iv) identifies the annual revenue and total assets of the
enterprise;
(E) to subject all state-owned or state-controlled
enterprises in a country that is a party to the trade
agreement to dispute settlement mechanisms in enforcing the
trade agreement; and
(F) to preserve the ability of state-owned or state-
controlled enterprises to provide legitimate public services.
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