[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4573 Received in Senate (RDS)]

111th CONGRESS
  2d Session
                                H. R. 4573


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 11, 2010

                                Received

_______________________________________________________________________

                                 AN ACT


 
  To urge the Secretary of the Treasury to instruct the United States 
Executive Directors at the International Monetary Fund, the World Bank, 
the Inter-American Development Bank, and other multilateral development 
institutions to use the voice, vote, and influence of the United States 
      to cancel immediately and completely Haiti's debts to such 
                 institutions, and for other purposes.

    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 ``Haiti Debt Relief and Earthquake 
Recovery Act of 2010''.

SEC. 2. DEBT RELIEF FOR HAITI.

    Title XVI of the International Financial Institutions Act (22 
U.S.C. 262p et seq.) is amended by adding at the end the following new 
section:

``SEC. 1628. CANCELLATION OF HAITI'S DEBTS TO INTERNATIONAL FINANCIAL 
              INSTITUTIONS.

    ``(a) In General.--The Secretary of the Treasury should direct the 
United States Executive Director at the International Monetary Fund, 
the International Development Association, the Inter-American 
Development Bank, the International Fund for Agricultural Development, 
and other multilateral development institutions (as defined in section 
1701(c)(3)) to use the voice, vote and influence of the United States 
at each such institution to seek to achieve--
            ``(1) the immediate and complete cancellation of any and 
        all remaining debts owed by Haiti to such institutions;
            ``(2) the suspension of Haiti's debt service payments to 
        such institutions until such time as the debts are canceled 
        completely; and
            ``(3) the provision of emergency, humanitarian and 
        reconstruction assistance from such institutions to Haiti in 
        the form of grants or other assistance such that Haiti does not 
        accumulate debt.
    ``(b) Use of Certain Funds for Assistance to Haiti.--The Secretary 
of the Treasury should instruct the United States Executive Director of 
the International Monetary Fund to advocate the use of some of the 
realized windfall profits that exceed the required contribution to the 
Poverty Reduction and Growth Trust (as referenced in the IMF Reforms 
Financial Facilities for Low-Income Countries Public Information Notice 
(PIN) No. 09/94) from the ongoing sale of 12,965,649 ounces of gold 
acquired since the second Amendment of the Fund's Article of Agreement, 
to provide debt stock relief, debt service relief, and grants for 
Haiti.
    ``(c) Securing Other Relief for Haiti.--The Secretary of the 
Treasury and the Secretary of State should use all appropriate 
diplomatic influence to secure cancellation of any and all remaining 
bilateral, multilateral and private creditor debt owed by Haiti.''.

SEC. 3. INFRASTRUCTURE INVESTMENT.

    (a) Trust Fund.--The Secretary of the Treasury should support the 
creation and utilization of a multilateral trust fund for Haiti that 
would leverage potential United States contributions and promote 
bilateral donations to such a fund for the purpose of making 
investments in Haiti's future, including efforts to combat soil 
degradation and promote reforestation and infrastructure investments 
such as electric grids, roads, water and sanitation facilities, and 
other critical infrastructure projects.
    (b) Increase in Transfer of Earnings.--The Secretary of the 
Treasury should direct the United States Executive Director of the 
Inter-American Development Bank to seek to increase the transfer of its 
earnings to the Fund for Special Operations and to a trust fund or 
grant facility for Haiti.

            Passed the House of Representatives March 10, 2010.

            Attest:

                                            LORRAINE C. MILLER,

                                                                 Clerk.