To amend the Federal Credit Reform Act of 1990 to require appropriations to cover the estimated subsidy costs of monetary resources provided by the United States Government to the International Monetary Fund, and for other purposes.

Summary

Amends the Federal Credit Reform Act of 1990 to declare that, beginning with FY 2005, no appropriation may be made for an increase in the quota of the United States in the International Monetary Fund (IMF) unless it includes new budget authority sufficient to cover the estimated costs to the United States of providing direct loans, loan guarantees, other financing mechanisms (and their modifications) made by or through the IMF to IMF borrowing nations at interest rates below the cost to the Government after appropriate adjustments for maturity and credit risk. Requires the expenditures in the President's budget to reflect the costs to the Government of providing credit to IMF borrowing nations at such interest rates.

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Timeline

1. 19 November 2003

   Introduced

   Referred to the Committee on the Budget, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 19 November 2003

   Introduced

   Referred to the Committee on the Budget, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 19 November 2003

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 November 2003

   Introduced

   Introduced in House

   Source: IntroReferral

5. 2 January 2004

   Referred

   Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, for a period to be subsequently determined by the Chairman.

   Source: Committee

Votes

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Versions

• Introduced in House · 19 November 2003 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 November 2003

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 November 2003

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 19 November 2003

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  Vertaal document

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Sponsors

• Rep. Saxton, Jim [R-NJ-3] · R · Sponsor
• · hsba00 · Standing
• · hsbu00 · Standing

Related records

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