[Congressional Record (Bound Edition), Volume 156 (2010), Part 2]
[Senate]
[Page 2773]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           HAITI RECOVERY ACT

  Mr. REID. Mr. President, I ask unanimous consent the Senate proceed 
to Calendar No. 276, S. 2961.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The assistant legislative clerk read as follows:

       A bill (S. 2961) to provide debt relief to Haiti, and for 
     other purposes.

  There being no objection, the Senate proceeded to consider the bill 
which had been reported from the Committee on Foreign Relations with 
amendments; as follows:
  (The parts of the bill intended to be stricken are shown in boldface 
brackets and the parts of the bill intended to be inserted are shown in 
italics.)

                                S. 2961

       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 
     [after] before the date of the enactment of this Act [and 
     before February 1, 2012];
       (B) the provision of debt service relief for all [remaining 
     payments of Haiti] 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, [not 
     loans] 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 [the proceeds, in excess of May 2009 
     projections] 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 [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] 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 [an Inter-American 
     Development Bank] 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 [infrastructure] 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, [which finances programming in Haiti and other 
     weak economies in the Western Hemisphere.] and to a trust 
     fund or grant facility for Haiti.

  Mr. REID. I now ask unanimous consent the committee-reported 
amendments be agreed to; the bill, as amended, be read a third time, 
passed, the motion to reconsider be laid on the table, and any 
statements be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The committee amendments were agreed to.
  The bill (S. 2961), as amended, was ordered to be engrossed for a 
third reading, was read the third time, and passed, as follows:

                                S. 2961

       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.

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