[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1276 Placed on Calendar Senate (PCS)]

                                                        Calendar No. 85
112th CONGRESS
  1st Session
                                S. 1276

 To repeal the authority to provide certain loans to the International 
Monetary Fund, the increase in the United States quota to the Fund, and 
  certain other related authorities, to rescind related appropriated 
                    amounts, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 23, 2011

Mr. DeMint (for himself, Mr. Vitter, Mr. Cornyn, Mr. Crapo, Mr. Inhofe, 
Mr. Hatch, and Mr. Risch) introduced the following bill; which was read 
                             the first time

                             June 27, 2011

            Read the second time and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
 To repeal the authority to provide certain loans to the International 
Monetary Fund, the increase in the United States quota to the Fund, and 
  certain other related authorities, to rescind related appropriated 
                    amounts, 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. REPEAL OF AUTHORITY TO PROVIDE CERTAIN LOANS TO THE 
              INTERNATIONAL MONETARY FUND, THE INCREASE IN THE UNITED 
              STATES QUOTA, AND CERTAIN OTHER AUTHORITIES, AND 
              RESCISSION OF RELATED APPROPRIATED AMOUNTS.

    (a) Repeal of Authorities.--The Bretton Woods Agreements Act (22 
U.S.C. 286 et seq.) is amended--
            (1) in section 17--
                    (A) in subsection (a)--
                            (i) by striking ``(1) In order'' and 
                        inserting ``In order''; and
                            (ii) by striking paragraphs (2), (3), and 
                        (4); and
                    (B) in subsection (b)--
                            (i) by striking ``(1) For the purpose'' and 
                        inserting ``For the purpose'';
                            (ii) by striking ``subsection (a)(1)'' and 
                        inserting ``subsection (a)''; and
                            (iii) by striking paragraph (2);
            (2) by striking sections 64, 65, 66, and 67; and
            (3) by redesignating section 68 as section 64.
    (b) Rescission of Amounts.--
            (1) In general.--The unobligated balance of the amounts 
        specified in paragraph (2)--
                    (A) is rescinded;
                    (B) shall be deposited in the General Fund of the 
                Treasury to be dedicated for the sole purpose of 
                deficit reduction; and
                    (C) may not be used as an offset for other spending 
                increases or revenue reductions.
            (2) Amounts specified.--The amounts specified in this 
        paragraph are the amounts appropriated under the heading 
        ``United States Quota, International Monetary Fund'', and under 
        the heading ``Loans to International Monetary Fund'', under the 
        heading ``INTERNATIONAL MONETARY PROGRAMS'' under the heading 
        ``INTERNATIONAL ASSISTANCE PROGRAMS'' in title XIV of the 
        Supplemental Appropriations Act, 2009 (Public Law 111-32; 123 
        Stat. 1916).
                                                        Calendar No. 85

112th CONGRESS

  1st Session

                                S. 1276

_______________________________________________________________________

                                 A BILL

 To repeal the authority to provide certain loans to the International 
Monetary Fund, the increase in the United States quota to the Fund, and 
  certain other related authorities, to rescind related appropriated 
                    amounts, and for other purposes.

_______________________________________________________________________

                             June 27, 2011

            Read the second time and placed on the calendar