II 

Calendar No. 85 

112TH CONGRESS 

1ST SESSION S. 1276 

To repeal the authority to provide certain loans to the International Monetary 

Fund, the increase in the United States quota to the Fund, and certain 

other related authorities, to rescind related appropriated amounts, and 

for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JUNE 23, 2011 

Mr. DEMINT (for himself, Mr. VITTER, Mr. CORNYN, Mr. CRAPO, Mr. 

INHOFE, Mr. HATCH, and Mr. RISCH) introduced the following bill; which 

was read the first time 

JUNE 27, 2011 

Read the second time and placed on the calendar 

A BILL 

To repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United 

States quota to the Fund, and certain other related 

authorities, to rescind related appropriated amounts, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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•S 1276 PCS

1 SECTION 1. REPEAL OF AUTHORITY TO PROVIDE CERTAIN 

2 LOANS TO THE INTERNATIONAL MONETARY 

3 FUND, THE INCREASE IN THE UNITED STATES 

4 QUOTA, AND CERTAIN OTHER AUTHORITIES, 

5 AND RESCISSION OF RELATED APPRO6 PRIATED AMOUNTS. 

7 (a) REPEAL OF AUTHORITIES.—The Bretton Woods 

8 Agreements Act (22 U.S.C. 286 et seq.) is amended— 

9 (1) in section 17— 

10 (A) in subsection (a)— 

11 (i) by striking ‘‘(1) In order’’ and in12 serting ‘‘In order’’; and 

13 (ii) by striking paragraphs (2), (3), 

14 and (4); and 

15 (B) in subsection (b)— 

16 (i) by striking ‘‘(1) For the purpose’’ 

17 and inserting ‘‘For the purpose’’; 

18 (ii) by striking ‘‘subsection (a)(1)’’ 

19 and inserting ‘‘subsection (a)’’; and 

20 (iii) by striking paragraph (2); 

21 (2) by striking sections 64, 65, 66, and 67; and 

22 (3) by redesignating section 68 as section 64. 

23 (b) RESCISSION OF AMOUNTS.— 

24 (1) IN GENERAL.—The unobligated balance of 

25 the amounts specified in paragraph (2)— 

26 (A) is rescinded; 


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•S 1276 PCS

1 (B) shall be deposited in the General Fund 

2 of the Treasury to be dedicated for the sole 

3 purpose of deficit reduction; and 

4 (C) may not be used as an offset for other 

5 spending increases or revenue reductions. 

6 (2) AMOUNTS SPECIFIED.—The amounts speci7 fied in this paragraph are the amounts appropriated 

8 under the heading ‘‘UNITED STATES QUOTA, INTER9 NATIONAL MONETARY FUND’’, and under the head10 ing ‘‘LOANS TO INTERNATIONAL MONETARY

11 FUND’’, under the heading ‘‘INTERNATIONAL 

12 MONETARY PROGRAMS’’ under the heading 

13 ‘‘INTERNATIONAL ASSISTANCE PROGRAMS’’ 

14 in title XIV of the Supplemental Appropriations Act, 

15 2009 (Public Law 111–32; 123 Stat. 1916). 


srobinson on DSK4SPTVN1PROD with BILLS
Calendar No. 85 

112TH CONGRESS 

1ST SESSION S. 1276 

A BILL 

To repeal the authority to provide certain loans to 

propriated amounts, and for other purposes. other related authorities, to rescind related apthe United States quota to the Fund, and certain the International Monetary Fund, the increase in 

JUNE 27, 2011 

Read the second time and placed on the calendar 


srobinson on DSK4SPTVN1PROD with BILLS