H.R. 2313

To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota in that Fund, and certain other authorities, and to rescind related appropriations.

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I

112th CONGRESS

1st Session

H. R. 2313

IN THE HOUSE OF REPRESENTATIVES

June 23, 2011

Mrs. McMorris Rodgers (for herself, Mr. Duncan of Tennessee, Mrs. Blackburn, Mr. Gowdy, Mr. Chaffetz, Mr. Latta, Mr. Harris, Mr. Kingston, Mr. Neugebauer, Mr. Hastings of Washington, Mr. Simpson, Mrs. Hartzler, Mr. Coffman of Colorado, Mr. Jones, Mr. Rehberg, and Mr. Long) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota in that Fund, and certain other authorities, and to rescind related appropriations.

1.

Repeal of authority to provide certain loans to the International Monetary Fund, the increase in the United States quota, and certain other authorities, and rescission of related appropriated amounts

(a)

Repeal of authorities

The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended—

(1)

in section 17—

(A)

in subsection (a)—

(i)

by striking (1) In order and inserting In order; and

(ii)

by striking paragraphs (2), (3), and (4); and

(B)

in subsection (b)—

(i)

by striking (1) For the purpose and inserting For the purpose;

(ii)

by striking subsection (a)(1) and inserting subsection (a); and

(iii)

by striking paragraph (2);

(2)

by striking sections 64, 65, 66, and 67; and

(3)

by redesignating section 68 as section 64.

(b)

Rescission of amounts

(1)

In general

The unobligated balance of the amounts specified in paragraph (2)—

(A)

is rescinded;

(B)

shall be deposited in the General Fund of the Treasury to be dedicated for the sole purpose of deficit reduction; and

(C)

may not be used as an offset for other spending increases or revenue reductions.

(2)

Amounts specified

The amounts specified in this paragraph are the amounts appropriated under the headings United States Quota, International Monetary Fund and Loans to International Monetary Fund, under the heading International Assistance Programs—International Monetary Programs, in title XIV of the Supplemental Appropriations Act, 2009 (Public Law 111–32; 123 Stat. 1916).