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

                                                       Calendar No. 276
111th CONGRESS
  2d Session
                                S. 2961

                          [Report No. 111-128]

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 28, 2010

Mr. Dodd (for himself, Mr. Lugar, Mr. Durbin, and Mr. Kerry) introduced 
the following bill; which was read twice and referred to the Committee 
                          on Foreign Relations

                           February 25, 2010

                 Reported by Mr. Kerry, with amendments
  [Omit the part struck through and insert the part printed in italic]

_______________________________________________________________________

                                 A BILL


 
        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 <DELETED>after</DELETED>before the date of the 
                enactment of this Act <DELETED>and before February 1, 
                2012</DELETED>;
                    (B) the provision of debt service relief for all 
                <DELETED>remaining payments of Haiti</DELETED>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<DELETED>, not loans</DELETED>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 <DELETED>the 
proceeds, in excess of May 2009 projections</DELETED>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 <DELETED>low-income countries that are eligible for the 
Poverty Reduction and Growth Facility or any other programs designed to 
assist low-income countries, including Haiti</DELETED>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 <DELETED>an Inter-American Development 
Bank</DELETED>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 
<DELETED>infrastructure</DELETED>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<DELETED>, which finances 
programming in Haiti and other weak economies in the Western 
Hemisphere.</DELETED>and to a trust fund or grant facility for Haiti.
                                                       Calendar No. 276

111th CONGRESS

  2d Session

                                S. 2961

                          [Report No. 111-128]

_______________________________________________________________________

                                 A BILL

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

_______________________________________________________________________

                           February 25, 2010

                        Reported with amendments