I 
116TH CONGRESS 
2D SESSION 
H. R. 6086 
To hold China, Russia, and other major shareholders of the International 
Monetary Fund accountable to the principles of the Fund, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 4, 2020 
Mr. HUIZENGA introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To hold China, Russia, and other major shareholders of 
the International Monetary Fund accountable to the 
principles of the Fund, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘IMF Reform and In-
tegrity Act of 2020’’. 
SEC. 2. OPPOSITION TO QUOTA INCREASE FOR COUNTRIES 
THAT UNDERMINE IMF PRINCIPLES. 
The Bretton Woods Agreements Act (22 U.S.C. 286– 
286zz) is amended— 
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(1) by redesignating the 2nd section 73 (as 
added by section 1901 of division P of Public Law 
116–94) as section 74; and 
(2) by adding at the end the following: 
‘‘SEC. 75. OPPOSITION TO QUOTA INCREASE FOR COUN-
TRIES THAT UNDERMINE FUND PRINCIPLES. 
‘‘(a) IN GENERAL.—Not less than 7 days before con-
sideration of any proposal to increase the quota of a for-
eign member of the Fund that is one of the 10 largest 
shareholders in the Fund, the Secretary of the Treasury 
shall submit a report to the Committee on Financial Serv-
ices of the House and the Committee on Foreign Relations 
of the Senate that determines whether the foreign member 
meets the following criteria: 
‘‘(1) The member is in compliance with all obli-
gations set forth in Article VIII of the Articles of 
Agreement of the Fund. 
‘‘(2) The member, in the preceding 12 months, 
was not found to have manipulated its currency, as 
determined in a report required by section 3005 of 
the Omnibus Trade and Competitiveness Act of 
1988 or section 701 of the Trade Facilitation and 
Trade Enforcement Act of 2015. 
‘‘(3) In the case of a member whose currency 
is included in the Special Drawing Rights basket of 
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‘‘(2) the member is attempting to rectify the 
failure, with a description of the actions the member 
is taking to fulfill any unmet criteria. 
‘‘(d) PROHIBITION.—Notwithstanding subsection (c), 
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 (as defined in section 301 of the Federal Election 
Campaign Act of 1971) in the 4 years preceding consider-
ation of the proposal. 
‘‘(e) PROPOSAL CONSIDERATION.—For the purposes 
of this section, 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 law. 
‘‘(f) SUNSET.—This section shall cease to have force 
or effect 10 years after the date of the enactment of this 
Act.’’. 
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SEC. 3. OPPOSITION OF THE UNITED STATES TO INTER-
NATIONAL MONETARY FUND LOAN TO A 
COUNTRY WHOSE PUBLIC DEBT IS NOT LIKE-
LY TO BE SUSTAINABLE IN THE MEDIUM 
TERM. 
(a) IN GENERAL.—Section 68(a) of the Bretton 
Woods Agreements Act (22 U.S.C. 286tt(a)) is amend-
ed— 
(1) in paragraph (2), by inserting after the 
comma the following: ‘‘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 term,’’; and 
(2) by adding at the end the following: 
‘‘(3) WAIVER
AUTHORITY.—The Secretary of 
the Treasury may waive paragraph (2) on a case-by- 
case basis if the Secretary provides a written certifi-
cation 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 
States, and includes with the certification a written 
statement of the reasons therefor.’’. 
(b) SUNSET.—This section shall cease to have force 
or effect 10 years after the date of the enactment of this 
Act. 
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SEC. 4. CONGRESSIONAL NOTIFICATION WITH RESPECT TO 
EXCEPTIONAL ACCESS LENDING. 
(a) IN GENERAL.—The Bretton Woods Agreements 
Act (22 U.S.C. 286–286zz), as amended by section 2 of 
this Act, is amended by adding at the end the following: 
‘‘SEC. 76. CONGRESSIONAL NOTIFICATION WITH RESPECT 
TO EXCEPTIONAL ACCESS LENDING. 
‘‘(a) IN GENERAL.—The United States Executive Di-
rector at the International Monetary Fund may not sup-
port any proposal that would alter the criteria used by 
the Fund for exceptional access lending if the proposal 
would permit a country that is ineligible, before the pro-
posed alteration, to receive exceptional access lending, un-
less, not later than 15 days before consideration of the 
proposal by the Board of Executive Directors of the Fund, 
the Secretary of the Treasury has submitted to the Com-
mittee on Financial Services of the House of Representa-
tives and the Committee on Foreign Relations of the Sen-
ate a report on the justification for the proposal and the 
effects of the proposed alteration on moral hazard and re-
payment risk at the Fund. 
‘‘(b) WAIVER.—The President may reduce the appli-
cable notice period required under subsection (a) to not 
less than 7 days on reporting to the Committee on Finan-
cial Services of the House of Representatives and Com-
mittee on Foreign Relations of the Senate that the reduc-
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tion is important to the national interest of the United 
States, with an explanation of the reasons therefor.’’. 
(b) SUNSET.—This section shall cease to have force 
or effect 10 years after the date of the enactment of this 
Act. 
Æ 
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