Fairness for Taiwan Nationals Regarding Employment at International Financial Institutions

Pub. L. 116–283, div. H, title XCVII, § 9724, Jan. 1, 2021, 134 Stat. 4842, provided that:

“(a)

Sense of Congress.—

It is the sense of Congress that—

“(1)

Taiwan is responsible for remarkable achievements in economic and democratic development, with its per capita gross domestic product rising in purchasing power parity terms from $3,470 in 1980 to more than $55,000 in 2018;

“(2)

the experience of Taiwan in creating a vibrant and advanced economy under democratic governance and the rule of law can inform the work of the international financial institutions, including through the contributions and insights of Taiwan nationals; and

“(3)

Taiwan nationals who seek employment at the international financial institutions should not be held at a disadvantage in hiring because the economic success of Taiwan has rendered it ineligible for financial assistance from such institutions.

“(b)

In General.—

The Secretary of the Treasury shall instruct the United States Executive Director at each international financial institution to use the voice and vote of the United States to seek to ensure that Taiwan nationals are not discriminated against in any employment decision by the institution, including employment through consulting or part-time opportunities, on the basis of—

“(1)

whether they are citizens or nationals of, or holders of a passport issued by, a member country of, or a state or other jurisdiction that receives assistance from, the international financial institution; or

“(2)

any other consideration that, in the determination of the Secretary, unfairly disadvantages Taiwan nationals with respect to employment at the institution.

“(c)

Waiver Authority.—

The Secretary of the Treasury may waive subsection (b) for not more than 1 year at a time after reporting to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that providing the waiver—

“(1)

will substantially promote the objective of equitable treatment for Taiwan nationals at the international financial institutions; or

“(2)

is in the national interest of the United States, with a detailed explanation of the reasons therefor.

“(d)

Progress Report.—

The Chairman of the National Advisory Council on International Monetary and Financial Policies shall submit to the committees specified in subsection (c) an annual report, in writing, that describes the progress made toward advancing the policy described in subsection (b), and a summary of employment trends with respect to Taiwan nationals at the international financial institutions.

“(e)

International Financial Institution Defined.—

In this section, the term ‘international financial institutions’ has the meaning given the term in section 1701(c)(2) of the International Financial Institutions Act (22 U.S.C. 262r(c)(2)).

“(f)

Sunset.—

The preceding provisions of this section shall have no force or effect beginning on the earlier of—

“(1)

the date that is 7 years after the date of the enactment of this Act [Jan. 1, 2021]; or

“(2)

the date that the Secretary of the Treasury reports to the committees specified in subsection (c) that each international financial institution has adopted the policy described in subsection (b).”