[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1203 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 1203

    To encourage the International Monetary Fund to fully implement 
                 transparency and efficiency policies.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 18, 1999

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

_______________________________________________________________________

                                 A BILL


 
    To encourage the International Monetary Fund to fully implement 
                 transparency and efficiency policies.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``IMF Transparency and Efficiency 
Enforcement Act of 1999''.

SEC. 2. LIMITATION ON AUTHORITY TO MAKE LOANS TO THE INTERNATIONAL 
              MONETARY FUND.

    Section 17(a) of the Bretton Woods Agreements Act (22 U.S.C. 280e-
z(a)) is amended by adding at the end the following: ``A loan under the 
authority granted in this subsection may be made only within 1 year 
after the Secretary of the Treasury and the Chairman of the Board of 
Governors of the Federal Reserve System, after consultation with the 
Comptroller General of the United States, have jointly provided to the 
Committees on Appropriations, Foreign Relations, and Banking, Housing, 
and Urban Affairs of the Senate and the Committees on Appropriations 
and Banking and Financial Services of the House of Representatives a 
written certification that the Fund has implemented fully the policies 
described in section 601 of the Foreign Operations, Export Financing, 
and Related Programs Appropriations Act, 1999 (as contained in section 
101(d) of Division A of the Omnibus Consolidated and Emergency 
Supplemental Appropriations Act, 1999), except that if, in each of the 
preceding 4 years, such a certification has been so provided but a 
joint resolution approving the certification has not been enacted into 
law pursuant to this sentence, then such a loan may not be made within 
1 year after the provision of the certification unless, during such 
year, a joint resolution approving the certification is enacted into 
law.''.
                                 <all>