,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fjhf  ,,in ,,the ,,house ,,of  
,,representatives  ,march #d1 #bjbj,mr4 
,huizenga introduced the following bill2
 which was referred to the ,committee on
 ,financial ,services  ,a ,,bill  ,to   
hold ,china1 ,russia1 and other major   
shareholders of the ,international      
,monetary ,fund accountable to the      
principles of the ,fund1 and for other  
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,,imf ,reform and   
,integrity ,act of #bjbj4  #b4          
,opposition to quota increase for       
countries that undermine ,,imf          
principles ,the ,bretton ,woods         
,agreements ,act 7#bb ,u4,s4,c4         
#bhf-bhfzz7 is amended-- 7#a7 by        
redesignating the #bnd section #gc 7as  
added by section #aija of division ,p of
 ,public ,law #aaf-id7 as section #gd2  
and  7#b7 by adding at the end the      
following3  #ge4 ,opposition to quota   
increase for countries that undermine   
,fund principles  7a7 ,in general ,not  

less than #g days before consideration  
of any proposal to increase the quota of
 a foreign member of the ,fund that is  
one of the #aj largest shareholders in  
the ,fund1 the ,secretary of the        
,treasury shall submit a report to the  
,committee on ,financial ,services of   
the ,house and the ,committee on        
,foreign ,relations of the ,senate that 
determines whether the foreign member   
meets the following criteria3 7#a7 ,the 
member is in compliance with all        
obligations set forth in ,article ,,viii
 of the ,articles of ,agreement of the  
,fund4  7#b7 ,the member1 in the        
preceding #ab months1 was not found to  
have manipulated its currency1 as       
determined in a report required by      
section #cjje of the ,omnibus ,trade and
 ,competitiveness ,act of #aihh or      
section #gja of the ,trade ,facilitation
 and ,trade ,enforcement ,act of #bjae4 
7#c7 ,in the case of a member whose     
currency is included in the ,special    
,drawing ,rights basket of the ,fund1   

the currency of the member is freely    
usable 7within the meaning of ,article  
,,xxx7f7 of the ,articles of ,agreement 
of the ,fund7 and the ,secretary concurs
 with the determinations of the ,fund   
described in that ,article1 and1 in the 
preceding #ab months1 the member has    
demonstrated its commitment to ensuring 
that its currency is widely used and    
traded internationally4  7#d7 ,the      
member is committed to the rules and    
principles of the ,paris ,club4  7b7    
,effect of determination ,on determining
 that a member of the ,fund has failed  
to meet any of the criteria set forth in
 subsection 7a71 the ,secretary shall   
instruct the ,governor of the ,fund to  
use the voice and vote of the ,united   
,states to oppose the proposal to       
increase the quota of the member in the 
,fund4  7c7 ,waiver ,the ,president may 
waive subsection 7b7 with respect to a  
member of the ,fund on reporting to the 
,committee on ,financial ,services of   
the ,house of ,representatives and the  

,committee on ,foreign ,relations of the
 ,senate that-- 7#a7 the waiver is      
important to the national interest of   
the ,united ,states1 with an explanation
 of the reasons therefor2 or  7#b7 the  
member is attempting to rectify the     
failure1 with a description of the      
actions the member is taking to fulfill 
any unmet criteria4  7d7 ,prohibition   
,notwithstanding subsection 7c71 the    
,governor of the ,fund may not use the  
voice or vote of the ,united ,states to 
support a proposal to increase the quota
 of a member in the ,fund if the        
,president of the ,united ,states       
determines that the government of the   
member interfered in a ,united ,states  
election for ,federal office 7as defined
 in section #cja of the ,federal        
,election ,campaign ,act of #aiga7 in   
the #d years preceding consideration of 
the proposal4  7e7 ,proposal            
consideration ,for the purposes of this 
section1 consideration of a proposal to 
increase the quota of a foreign member  

of the ,fund does not include consent to
 an amendment to the ,articles of       
,agreement of the ,fund that has been   
authorized by law4  7f7 ,sunset ,this   
section shall cease to have force or    
effect #aj years after the date of the  
enactment of this ,act4  4  #c4         
,opposition of the ,united ,states to   
,international ,monetary ,fund loan to a
 country whose public debt is not likely
 to be sustainable in the medium term   
7a7 ,in general ,section #fh7;a7 of the 
,bretton ,woods ,agreements ,act 7#bb   
,u4,s4,c4 #bhftt7a77 is amended-- 7#a7  
in paragraph 7#b71 by inserting after   
the comma the following3 or a staff     
analytical report of the ,fund states   
that there is not a high probability    
that the public debt of the country is  
sustainable in the medium term12 and    
7#b7 by adding at the end the following3
  7#c7 ,waiver authority ,the ,secretary
 of the ,treasury may waive paragraph   
7#b7 on a case-by-case basis if the     
,secretary provides a written           

certification to the ,committee on      
,financial ,services of the ,house of   
,representatives and the ,committee on  
,foreign ,relations of the ,senate that 
the waiver is important to the national 
interest of the ,united ,states1 and    
includes with the certification a       
written statement of the reasons        
therefor4  4  7b7 ,sunset ,this section 
shall cease to have force or effect #aj 
years after the date of the enactment of
 this ,act4  #d4 ,congressional         
notification with respect to exceptional
 access lending  7a7 ,in general ,the   
,bretton ,woods ,agreements ,act 7#bb   
,u4,s4,c4 #bhf-bhfzz71 as amended by    
section #b of this ,act1 is amended by  
adding at the end the following3  #gf4  
,congressional notification with respect
 to exceptional access lending  7a7 ,in 
general ,the ,united ,states ,executive 
,director at the ,international         
,monetary ,fund may not support any     
proposal that would alter the criteria  
used by the ,fund for exceptional access

 lending if the proposal would permit a 
country that is ineligible1 before the  
proposed alteration1 to receive         
exceptional access lending1 unless1 not 
later than #ae days before consideration
 of the proposal by the ,board of       
,executive ,directors of the ,fund1 the 
,secretary of the ,treasury has         
submitted to the ,committee on          
,financial ,services of the ,house of   
,representatives and the ,committee on  
,foreign ,relations of the ,senate a    
report on the justification for the     
proposal and the effects of the proposed
 alteration on moral hazard and         
repayment risk at the ,fund4  7b7       
,waiver ,the ,president may reduce the  
applicable notice period required under 
subsection 7a7 to not less than #g days 
on reporting to the ,committee on       
,financial ,services of the ,house of   
,representatives and ,committee on      
,foreign ,relations of the ,senate that 
the reduction is important to the       
national interest of the ,united        

,states1 with an explanation of the     
reasons therefor4  4  7b7 ,sunset ,this 
section shall cease to have force or    
effect #aj years after the date of the  
enactment of this ,act4