[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2961 Engrossed in Senate (ES)]

111th CONGRESS
  2d Session
                                S. 2961

_______________________________________________________________________

                                 AN ACT


 
        To provide debt relief to Haiti, 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 Recovery Act''.

SEC. 2. DEBT RELIEF FOR HAITI.

    (a) In General.--
            (1) Cancellation of debt.--The Secretary of the Treasury 
        should direct the United States Executive Director to each 
        international financial institution to advocate in such 
        institution--
                    (A) the cancellation of any and all remaining debt 
                obligations of Haiti, including debt obligations 
                incurred before the date of the enactment of this Act;
                    (B) the provision of debt service relief for all 
                payments of Haiti remaining on the date of the 
                enactment of this Act; and
                    (C) to the extent practicable, the extension of any 
                new assistance to Haiti be primarily in the form of 
                grants until February 1, 2012.
            (2) International financial institution.--The term 
        ``international financial institution'' means each of the 
        institutions listed in section 1701(c)(2) of the International 
        Financial Institutions Act (22 U.S.C. 262r(c)(2)) and includes 
        the International Development Fund for Agricultural 
        Development.
            (3) Sense of the senate.--It is the sense of the Senate 
        that international financial institutions should cancel any 
        debt incurred by Haiti after the date of the enactment of this 
        Act and before February 1, 2012, so that Haiti can rebuild 
        after the devastation of the earthquake of January 2010.
    (b) Use of Certain Funds for Poverty Reduction.--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, loan subsidies, 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 
debt of 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 Senate March 5, 2010.

            Attest:

                                                             Secretary.
111th CONGRESS

  2d Session

                                S. 2961

_______________________________________________________________________

                                 AN ACT

        To provide debt relief to Haiti, and for other purposes.