[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1147 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 1147

              To sunset the Bretton Woods Agreements Act.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 17, 1999

   Mr. Paul introduced the following bill; which was referred to the 
              Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
              To sunset the Bretton Woods Agreements Act.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SUNSET OF BRETTON WOODS AGREEMENTS ACT.

    The Bretton Woods Agreements Act (22 U.S.C. 286) is hereby repealed 
3 years after the date of enactment of this Act.

SEC. 2. SETTLEMENT OF ACCOUNTS.

    Not later than 3 years after the date of the enactment of this Act, 
the Secretary of the Treasury shall withdraw the United States from the 
International Monetary Fund, and shall negotiate an agreement on the 
method of settling accounts with the International Monetary Fund.

SEC. 3. REPORT TO THE CONGRESS ON ALTERNATIVES.

    On the date that is 2 years after the date of the enactment of this 
Act, the Secretary of the Treasury shall submit to the Committee on 
Banking and Financial Services of the House of Representatives and the 
Committee on Foreign Relations of the Senate a report on alternative 
ways of addressing the problems that the International Monetary Fund is 
designed to address, including reliance on the operation of private 
capital markets, merging the International Monetary Fund with the 
International Bank for Reconstruction and Development, and establishing 
an institution to address such problems in a different manner than the 
International Monetary Fund has addressed such problems.
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