H. R. 2471—785 
adjusted daily by adding the tenor spread adjust-
ment, as that term is defined in the Adjustable 
Interest Rate (LIBOR) Act, for 1-month LIBOR 
contracts of 0.11448 percent’ for ‘of the 1-month 
London Inter Bank Offered Rate (LIBOR) for 
United States dollars in effect for each of the days 
in such quarter as compiled and released by the 
British Bankers Association’. The special allowance 
calculation for loans subject to clause (vii) shall 
otherwise remain in effect. 
‘‘(III) LOANS
ELIGIBLE
FOR
SOFR-BASED
CAL-
CULATION.—Except as provided in subclause (IV), 
the special allowance payment calculated under 
subclause (II) shall apply to all loans for which 
the holder (or, if the holder acts as an eligible 
lender trustee for the beneficial owner of the loan, 
the beneficial owner of the loan) at any time after 
the effective date of this clause notifies the Sec-
retary that the holder or beneficial owner affirma-
tively and permanently elects to waive all contrac-
tual, statutory, or other legal rights to a special 
allowance paid under clause (vii) or to the special 
allowance paid pursuant to any other formula that 
was previously in effect with respect to such loan, 
and accepts the rate described in subclause (II). 
Any such waiver shall apply to all loans then 
held, or to be held from time to time, by such 
holder or beneficial owner; provided that, due to 
the need to obtain the approval of, demonstrated 
to the satisfaction of the Secretary— 
‘‘(aa) one or more third parties with a 
legal or beneficial interest in loans eligible 
for the SOFR-based calculation; or 
‘‘(bb) 
a 
nationally 
recognized 
rating 
organization assigning a rating to a financing 
secured by loans otherwise eligible for the 
SOFR-based calculation, 
the holder of the loan (or, if the holder acts as 
an eligible lender trustee for the beneficial owner 
of the loan, the beneficial owner of the loan) may 
elect to apply the rate described in subclause (II) 
to specified loan portfolios established for financing 
purposes by separate notices with different effec-
tive dates. The special allowance rate based on 
SOFR shall be effective with respect to a portfolio 
as of the first day of the calendar quarter following 
the applicable effective date of the waiver received 
by the Secretary from the holder or beneficial 
owner and shall permanently and irrevocably con-
tinue for all subsequent quarters. 
‘‘(IV) FALLBACK PROVISIONS.— 
‘‘(aa) In the event that a holder or bene-
ficial owner has not elected to waive its rights 
to a special allowance payment under clause 
(vii) with respect to a portfolio with an effec-
tive date of the waiver prior to the first of—
H. R. 2471—786 
‘‘(AA) the date on which the ICE 
Benchmark Administration (‘IBA’) has 
permanently or indefinitely stopped pro-
viding the 1-month United States Dollar 
LIBOR (‘1-month USD LIBOR’) to the gen-
eral public; 
‘‘(BB) the effective date of an official 
public statement by the IBA or its regu-
lator that the 1-month USD LIBOR is no 
longer reliable or no longer representative; 
or 
‘‘(CC) the LIBOR replacement date, 
as defined in section 103 of the Adjustable 
Interest Rate (LIBOR) Act, 
the special allowance rate calculation as 
described in subclause (II) shall, by operation 
of law, apply to all loans in such portfolio. 
‘‘(bb) In such event— 
‘‘(AA) the last determined rate of spe-
cial allowance based on 1-month USD 
LIBOR will continue to apply until the 
end of the then current calendar quarter; 
and 
‘‘(BB) the special allowance rate cal-
culation as described in subclause (II) 
shall become effective as of the first day 
of the following calendar quarter and 
remain in effect for all subsequent cal-
endar quarters.’’. 
SEC. 110. RULEMAKING. 
Not later than 180 days after the date of enactment of this 
Act, the Board shall promulgate regulations to carry out this divi-
sion. 
DIVISION V—HAITI DEVELOPMENT, AC-
COUNTABILITY, AND INSTITUTIONAL 
TRANSPARENCY INITIATIVE ACT 
SEC. 101. SHORT TITLE. 
This division may be cited as the ‘‘Haiti Development, Account-
ability, and Institutional Transparency Initiative Act’’. 
SEC. 102. STATEMENT OF POLICY. 
It is the policy of the United States to support the sustainable 
rebuilding and development of Haiti in a manner that— 
(1) recognizes Haitian independence, self-reliance, and sov-
ereignty; 
(2) promotes efforts that are led by and support the people 
and Government of Haiti at all levels so that Haitians lead 
the course of reconstruction and development of Haiti; 
(3) contributes to international efforts to facilitate condi-
tions for broad, inclusive, and sustained political dialogue 
among the different actors in Haiti to restore democratic legit-
imacy and institutions in Haiti;
H. R. 2471—787 
(4) builds the long-term capacity of the Government of 
Haiti, civil society, and the private sector to foster economic 
opportunities in Haiti; 
(5) fosters collaboration between the Haitian diaspora in 
the United States, including dual citizens of Haiti and the 
United States, and the Government of Haiti and the business 
community in Haiti; 
(6) supports anticorruption efforts, promotes press freedom, 
and addresses human rights concerns, including through the 
enforcement of sanctions imposed in accordance with the Global 
Magnitsky Human Rights Accountability Act (subtitle F of title 
XII of Public Law 114–328; 22 U.S.C. 2656 note) on individuals 
implicated in human rights violations and corruption; 
(7) respects and helps restore the natural resources of 
Haiti and strengthens community-level resilience to environ-
mental and weather-related impacts; 
(8) promotes political stability through the holding of free, 
fair, transparent, and timely elections in accordance with demo-
cratic principles and the Constitution of Haiti; 
(9) provides timely and comprehensive reporting on the 
goals and progress of the Government of Haiti and the United 
States Government, and transparent post-program evaluations 
and contracting data; and 
(10) promotes the participation of Haitian women and youth 
in governmental and nongovernmental institutions and in eco-
nomic development and governance assistance programs funded 
by the United States. 
SEC. 103. DEFINITION OF APPROPRIATE CONGRESSIONAL COMMIT-
TEES. 
In this division, the term ‘‘appropriate congressional commit-
tees’’ means— 
(1) the Committee on Foreign Relations and the Committee 
on Appropriations of the Senate; and 
(2) the Committee on Foreign Affairs and the Committee 
on Appropriations of the House of Representatives. 
SEC. 104. STRENGTHENING HUMAN RIGHTS AND ANTICORRUPTION 
EFFORTS IN HAITI AND HOLDING PERPETRATORS OF THE 
LA SALINE MASSACRE ACCOUNTABLE. 
(a) PRIORITIZATION BY SECRETARY OF STATE.—The Secretary 
of State shall prioritize the protection of human rights and 
anticorruption efforts in Haiti through the following methods: 
(1) Fostering strong relationships with independent civil 
society groups focused on monitoring corruption and human 
rights abuses and promoting democracy in Haiti. 
(2) Supporting the efforts of the Government of Haiti to 
identify persons involved in human rights violations and signifi-
cant acts of corruption in Haiti, including public and private 
sector actors, and hold them accountable for their actions. 
(3) Addressing concerns of impunity for the alleged per-
petrators of and the individuals who organized and planned 
the massacre in La Saline that took place on November 13, 
2018. 
(4) Urging authorities to continue to investigate attacks 
in the neighborhoods of La Saline and Bel Air in 2018 and 
2019 that left dozens dead in order to bring the perpetrators 
to justice.
H. R. 2471—788 
(b) BRIEFING.— 
(1) IN GENERAL.—Not later than 180 days after the date 
of the enactment of this Act, the Secretary shall brief the 
appropriate congressional committees on the events that took 
place on November 13, 2018, in the neighborhood of La Saline, 
in Port-au-Prince, Haiti, and the aftermath of those events. 
(2) ELEMENTS.—The briefing required by paragraph (1) 
shall include the following: 
(A) An examination of any links between the massacre 
in La Saline and mass protests that occurred concurrently 
in Haiti. 
(B) An analysis of the reports on the massacre in 
La Saline authored by the United Nations, the European 
Union, and the Government of Haiti. 
(C) A detailed description of all known perpetrators 
of and the individuals who organized and planned the 
massacre. 
(D) An overview of efforts of the Government of Haiti 
to bring the perpetrators of and the individuals who orga-
nized and planned the massacre in La Saline to justice 
and to prevent other similar attacks. 
(E) An assessment of the ensuing treatment and 
displacement of the survivors of the massacre in La Saline. 
(3) CONSULTATION.—In carrying out paragraph (1), the Sec-
retary shall consult with nongovernmental organizations in 
Haiti and the United States. 
SEC. 105. PROMOTING FREEDOM OF THE PRESS AND ASSEMBLY IN 
HAITI. 
The Secretary of State shall prioritize the promotion of freedom 
of the press and freedom of assembly and the protection of journal-
ists in Haiti through the following methods: 
(1) Advocating to Haitian authorities for increased protec-
tion for journalists and the press and for the freedom to peace-
fully assemble or protest in Haiti. 
(2) Collaborating with officials of the Government of Haiti 
and representatives of civil society to increase legal protections 
for journalists in Haiti. 
(3) Supporting efforts to strengthen transparency in the 
public and private sectors in Haiti and access to information 
in Haiti. 
(4) Using United States foreign assistance for programs 
to strengthen capacity for independent journalists and increase 
support for investigative journalism in Haiti. 
SEC. 106. SUPPORTING POST-EARTHQUAKE, POST-HURRICANE, AND 
POST-COVID–19 RECOVERY AND DEVELOPMENT IN HAITI. 
The Secretary of State, in coordination with the Administrator 
of the United States Agency for International Development, shall 
prioritize post-earthquake, post-hurricane, and post-COVID–19 
recovery and development efforts in Haiti through the following 
methods: 
(1) Collaborating with the Government of Haiti on a 
detailed and transparent development plan that includes clear 
objectives and benchmarks. 
(2) Building the capacity of Haitian-led public, private, 
and nongovernmental sector institutions in Haiti through post-