Jobs and Exports Renewal Act of 1997

[AI summary unavailable — showing source text] Jobs and Exports Renewal Act of 1997 - Sets forth policy recommendations for the Overseas Private Investment Corporation (OPIC). Amends the Foreign Assistance Act of 1961 to extend through FY 1999 OPIC's authority to issue investment insurance and guarantees. Revises maximum contingent liability requirements for such insurance and guarantees to specify a single maximum contingent liability outstanding at any time for investment insurance, investment guaranties, and direct investment of $29 million in the aggregate. Declares that no OPIC-approved loan, financial guarantee, or insurance commitment exceeding $200 million should be effective unless OPIC submits to the Congress a detailed statement describing the transaction at least 35 days before it becomes effective. Establishes the Commission on Foreign Export and Investment Promotion to assess, and report to the Congress on, the impact on U.S. economic and foreign policy interests of Federal agencies and programs which promote foreign export and investment opportunities for U.S. business concerns. Amends the Inspector General Act of 1978 to establish within OPIC an Office of Inspector General with responsibility over the Trade and …