US Congress House Bill 6086 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on March 4 2020 - 25% progression, died in committee
Action: 2020-03-04 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Requires U.S. representatives to the International Monetary Fund (IMF) to take certain actions, such as opposing quota increases for certain countries. (A country's quota generally reflects its economic strength and affects factors such as that country's voting power within the IMF.) Before the IMF considers a proposal to increase the quota of any of the ten largest IMF shareholder countries, the Department of the Treasury shall report to Congress as to whether the country meets certain criteria, such as (1) fulfilling its general IMF obligations, and (2) not engaging in currency manipulation in the last 12 months. If the country does not meet all such criteria, U.S. representatives to the IMF shall oppose the proposed quota increase. U.S. representatives shall also oppose the proposed quota increase if the President determines that the country's government has interfered with a U.S. federal election in the last four years. U.S. representatives to the IMF shall oppose a proposed loan to a country if there is not a high probability that the country's public debt is sustainable in the medium term. The U.S. Executive Director at the IMF shall not support any proposal to change IMF criteria on providing exceptional access lending if the change would allow a previously ineligible country to receive such funding unless Treasury reports to Congress a justification for supporting the change before it is considered at the IMF. shall expire ten years after enactment.

IMF Reform and Integrity Act of 2020

Rep. Bill Huizenga [R-MI]

Date	Chamber	Action
2020-03-04	House	Referred to the House Committee on Financial Services.
2020-03-04	House	Introduced in House

HB4836 (Related) 2019-11-15 - Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6086/all-info
Text	https://www.congress.gov/116/bills/hr6086/BILLS-116hr6086ih.pdf