S.Amdt. 1184
What it does: Adds Sec. 1303. (a) Interpretation of Authority of the International Monetary Fund to Provide Certain Assistance to Low-Income Countries.--The Secretary of the Treasury shall instruct the United States Governor of the International Monetary Fund and the United States Executive Director of the Fund to obtain promptly an official interpretation by the Fund with respect to the authority of the Fund to provide support to low-income countries (as defined by the Fund) in the form of grants or other financial assistance that does not create debt for those countries on page 106, between lines 14 and 15
Sen. Jeff Bingaman (D-NM)What it changes
1 change to H.R. 2346
Adds Sec. 1303. (a) Interpretation of Authority of the International Monetary Fund to Provide Certain Assistance to Low-Income Countries.--The Secretary of the Treasury shall instruct the United States Governor of the International Monetary Fund and the United States Executive Director of the Fund to obtain promptly an official interpretation by the Fund with respect to the authority of the Fund to provide support to low-income countries (as defined by the Fund) in the form of grants or other financial assistance that does not create debt for those countries on page 106, between lines 14 and 15
Adds a sectionPrinted pageInserted: Sec. 1303. (a) Interpretation of Authority of the International Monetary Fund to Provide Certain Assistance to Low-Income Countries.--The Secretary of the Treasury shall instruct the United States Governor of the International Monetary Fund and the United States Executive Director of the Fund to obtain promptly an official interpretation by the Fund with respect to the authority of the Fund to provide support to low-income countries (as defined by the Fund) in the form of grants or other financial assistance that does not create debt for those countries.
Inserted: (b) Amendment to Articles of Agreement to Authorize Certain Assistance to Low-Income Countries.--If the International Monetary Fund concludes in the interpretation obtained pursuant to subsection (a) that the Fund does not have the authority to provide grants or other financial assistance described in that subsection, the United States Governor of the International Monetary Fund and the United States Executive Director of the Fund shall promptly propose and support an amendment to the Articles of Agreement of the Fund to explicitly authorize the Fund to provide such grants or other financial assistance.
Inserted: (c) Authorization to Accept Amendment.--Notwithstanding any other provision of law, the President may agree to and accept on behalf of the United States an amendment proposed under subsection (b) to the Articles of Agreement of the International Monetary Fund to explicitly authorize the Fund to provide grants or other financial assistance to low-income countries that does not create debt for those countries.
Original wording
On page 106, between lines 14 and 15, insert the following:
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As printed
SA 1184. Mr. BINGAMAN submitted an amendment intended to be proposed by him to the bill H.R. 2346, making supplemental appropriations for the fiscal year ending September 30, 2009, and for other purposes; which was ordered to lie on the table; as follows:
On page 106, between lines 14 and 15, insert the following:
Sec. 1303. (a) Interpretation of Authority of the International Monetary Fund to Provide Certain Assistance to Low-Income Countries.--The Secretary of the Treasury shall instruct the United States Governor of the International Monetary Fund and the United States Executive Director of the Fund to obtain promptly an official interpretation by the Fund with respect to the authority of the Fund to provide support to low-income countries (as defined by the Fund) in the form of grants or other financial assistance that does not create debt for those countries.
(b) Amendment to Articles of Agreement to Authorize Certain Assistance to Low-Income Countries.--If the International Monetary Fund concludes in the interpretation obtained pursuant to subsection (a) that the Fund does not have the authority to provide grants or other financial assistance described in that subsection, the United States Governor of the International Monetary Fund and the United States Executive Director of the Fund shall promptly propose and support an amendment to the Articles of Agreement of the Fund to explicitly authorize the Fund to provide such grants or other financial assistance.
(c) Authorization to Accept Amendment.--Notwithstanding any other provision of law, the President may agree to and accept on behalf of the United States an amendment proposed under subsection (b) to the Articles of Agreement of the International Monetary Fund to explicitly authorize the Fund to provide grants or other financial assistance to low-income countries that does not create debt for those countries.
Legislative Activity
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Senate amendment submitted
May 20, 2009