[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5932 Referred in Senate (RFS)]

<DOC>
116th CONGRESS
  2d Session
                                H. R. 5932


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 3, 2020

Received; read twice and referred to the Committee on Foreign Relations

_______________________________________________________________________

                                 AN ACT


 
 To ensure greater transparency regarding the terms and conditions of 
 financing provided by the People's Republic of China to member states 
              of the international financial institutions.

    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 ``Ensuring Chinese Debt Transparency 
Act of 2020''.

SEC. 2. ENSURING CHINESE DEBT TRANSPARENCY.

    (a) United States Policy at the International Financial 
Institutions.--The Secretary of the Treasury shall instruct the United 
States Executive Director at each international financial institution 
(as defined in section 1701(c)(2) of the International Financial 
Institutions Act) that it is the policy of the United States to use the 
voice and vote of the United States at the respective institution to 
seek to secure greater transparency with respect to the terms and 
conditions of financing provided by the government of the People's 
Republic of China to any member state of the respective institution 
that is a recipient of financing from the institution, consistent with 
the rules and principles of the Paris Club.
    (b) Report Required.--The Chairman of the National Advisory Council 
on International Monetary and Financial Policies shall include in the 
annual report required by section 1701 of the International Financial 
Institutions Act--
            (1) a description of progress made toward advancing the 
        policy described in subsection (a) of this section; and
            (2) a discussion of financing provided by entities owned or 
        controlled by the government of the People's Republic of China 
        to the member states of international financial institutions 
        that receive financing from the international financial 
        institutions, including any efforts or recommendations by the 
        Chairman to seek greater transparency with respect to the 
        former financing.
    (c) Sunset.--Subsections (a) and (b) of this section shall have no 
force or effect after the earlier of--
            (1) the date that is 7 years after the date of the 
        enactment of this Act; or
            (2) 30 days after the date that the Secretary reports to 
        the Committee on Financial Services of the House of 
        Representatives and the Committee on Foreign Relations of the 
        Senate that the People's Republic of China is in substantial 
        compliance with the rules and principles of the Paris Club.

            Passed the House of Representatives March 2, 2020.

            Attest:

                                             CHERYL L. JOHNSON,

                                                                 Clerk.