,,ib  ,union ,calendar ,no4 #ae  #aaith 
,,congress  #ast ,session  ,h4 ,r4 #agfd
  ,report ,no4 #aai-be  ,,in ,,the      
,,house ,,of ,,representatives  ,march  
#c1 #bjbe ,ms4 ,waters introduced the   
following bill2 which was referred to   
the ,committee on ,financial ,services  
,march #ba1 #bjbe ,reported with an     
amendment1 committed to the ,committee  
of the ,whole ,house on the ,state of   
the ,union1 and ordered to be printed   
,strike out all after the enacting      
clause and insert the part printed in   
italic ,for text of introduced bill1 see
 copy of bill as introduced on ,march   
#c1 #bjbe  ,a ,,bill  ,to accord        
securities issued by the ,international 
,development ,association the same      
exemption from the securities laws that 
applies to the securities of other      
multilateral development banks in which 
the ,united ,states is a member4  #a4   
,short title ,this ,act may be cited as 
the ,aligning ,,sec ,regulations for the
 ,world ,bank's ,international          

,development ,association ,act4  #b4    
,exemption of securities of the         
,international ,development ,association
 from the securities laws  7a7 ,in      
general ,the ,international ,development
 ,association ,act 7#bb ,u4,s4,c4 #bhd  
et seq47 is amended by adding at the end
 the following3  #cc4 ,exemption of     
securities of the ,international        
,development ,association from the      
securities laws  7a7 ,exemption from    
securities laws2 reports to ,securities 
and ,exchange ,commission ,any          
securities issued by the ,association   
7including any guaranty by the          
,association1 whether or not limited in 
scope7 and any securities guaranteed by 
the ,association as to both principal   
and interest shall be deemed to be      
exempted securities within the meaning  
of section #c7;a77#b7 of the ,securities
 ,act of #aicc 7#ae ,u4,s4,c4           
#gg;c7a77#b77 and section #c7;a77#ab7 of
 the ,securities ,exchange ,act of #aicd
 7#ae ,u4,s4,c4 #gh;c7a77#ab774 ,the    

,association shall file with the        
,securities and ,exchange ,commission   
such annual and other reports with      
regard to such securities as the        
,commission shall determine to be       
appropriate in view of the special      
character of the ,association and its   
operations and necessary in the public  
interest or for the protection of       
investors4  7b7 ,authority of           
,securities and ,exchange ,commission to
 suspend exemption2 reports to ,congress
 ,the ,securities and ,exchange         
,commission1 acting in consultation with
 the ,national ,advisory ,council on    
,international ,monetary and ,financial 
,problems1 is authorized to suspend the 
provisions of subsection 7a7 of this    
section at any time as to any or all    
securities issued or guaranteed by the  
,association during the period of such  
suspension4 ,the ,commission shall      
include in its annual reports to the    
,congress such information as it shall  
deem advisable with regard to the       

operations and effect of this section4  
4  7b7 ,effective date  7#a7 ,in general
 ,the amendment made by subsection 7a7  
shall take effect #cj days after the    
date of enactment of this ,act4  7#b7   
,exception ,notwithstanding paragraph   
7#a71 the amendment made by subsection  
7a7 shall not take effect if1 before the
 effective date described under         
paragraph 7#a71 the ,secretary of the   
,treasury reports to the ,committee on  
,financial ,services of the ,house of   
,representatives and the ,committee on  
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate that the ,international  
,development ,association is providing  
financial assistance to any country the 
government of which the ,secretary of   
,state has determined1 for purposes of  
section #f7;j7 of the ,export           
,administration ,act of #aigi1 section  
#fbj;,a of the ,foreign ,assistance ,act
 of #aifa1 or section #dj of the ,arms  
,export ,control ,act1 to be a          
government that has repeatedly provided 

support for acts of international       
terrorism4  ,march #ba1 #bjbe ,reported 
with an amendment1 committed to the     
,committee of the ,whole ,house on the  
,state of the ,union1 and ordered to be 
printed