118th Congress International Affairs
H.R. 605: Special Drawing Rights Oversight Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill imposes additional restrictions on the U.S. government's authority to vote on Special Drawing Rights (SDR) allocations at the International Monetary Fund (IMF).
(The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Under current law, U.S. representatives to the IMF may not vote for SDR allocations to the United States beyond an amount authorized by statute unless Congress authorizes such a vote. This bill further reduces the allocation amount that U.S. representatives to the IMF may vote for without congressional approval.
Read the full summary
Furthermore, U.S. representatives to the IMF may not vote for SDR allocations to a country if the President finds that the country's government has (1) committed genocide in the last 10 years, or (2) repeatedly supported international terrorism.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Garland Barr R-KYOriginal
- Bill Huizenga R-MIOriginal
- Tom Emmer R-MN
- Bryan Steil R-WI
- Andrew Ogles R-TN
Who scored on this bill
No member has earned points from it yet.
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by J. Hill
History
- Introduced in the House by J. Hill.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.