Haiti Recovery Act

Bill: 111-s-2961
Sponsor: Sen. Dodd, Christopher J. [D-CT]
Introduced: 2010-01-28 in the Senate
Policy area: International Affairs
Subjects: Caribbean area
Diplomacy, foreign officials, Americans abroad
Foreign loans and debt
Haiti
Infrastructure development
Latin America
Multilateral development programs
Western Hemisphere

Summary:
action_date: 2010-01-28
text: 
Haiti Recovery Act - Urges the Secretary of the Treasury to direct the U.S. Executive Director to each international financial institution to advocate: (1) the cancellation of all remaining debt obligations of Haiti, including obligations incurred after the date of the enactment of this Act and before February 1, 2012; (2) the provision of debt service relief for all of Haiti's remaining payments; and (3) that new assistance to Haiti should be primarily grants rather than loans.
 
Urges the Secretary to: (1) instruct the U.S. Executive Director of the International Monetary Fund (IMF) to advocate the use of certain proceeds to provide debt stock relief, debt service relief, and grants for low-income countries that are eligible for the Poverty Reduction and Growth Facility or any other programs to assist low-income countries, including Haiti; (2) support the creation of an Inter-American Development Bank trust fund for Haiti that would leverage U.S. contributions and promote bilateral donations for the purpose of investing in Haiti's infrastructure; and (3) direct the U.S. Executive Director of the Inter-American Development Bank to increase earnings transfer to the Fund for Special Operations, which finances programming in Haiti and other weak economies in the Western Hemisphere.
 
Urges the Secretary and the Secretary of State to use all appropriate diplomatic influence to secure cancellation of all remaining bilateral debt of Haiti.

action_date: 2010-02-25
text: 
Haiti Recovery Act - Urges the Secretary of the Treasury to direct the U.S. Executive Director to each international financial institution to advocate: (1) the cancellation of all remaining debt obligations of Haiti, including obligations incurred before the date of enactment of this Act; (2) the provision of debt service relief for all payments of Haiti remaining on the date of enactment of this Act; and (3) that through February 1, 2012, new assistance to Haiti should be primarily grants.
 
Expresses the sense of the Senate that international financial institutions should cancel any debt incurred by Haiti after the date of enactment of this Act and before February 1, 2012, so that Haiti can rebuild after the devastation of the January 2010 earthquake.
 
 
Urges the Secretary to: (1) instruct the U.S. Executive Director of the International Monetary Fund (IMF) to advocate the use of certain proceeds to provide debt stock relief, debt service relief, loan subsidies, and grants for Haiti; (2) support the creation of a multilateral trust fund for Haiti that would leverage U.S. contributions and promote bilateral donations for investing in Haiti's future; and (3) require the U.S. Executive Director of the Inter-American Development Bank to seek to increase earnings transfer to the Fund for Special Operations and to a trust fund or grant facility for Haiti.
 
Urges the Secretary and the Secretary of State to use all appropriate diplomatic influence to secure cancellation of all remaining bilateral debt of Haiti.

action_date: 2010-03-05
text: 

(This measure has not been amended since it was reported to the Senate on February 25, 2010. The summary of that version is repeated here.)

 
Haiti Recovery Act - Urges the Secretary of the Treasury to direct the U.S. Executive Director to each international financial institution to advocate: (1) the cancellation of all remaining debt obligations of Haiti, including obligations incurred before the date of enactment of this Act; (2) the provision of debt service relief for all payments of Haiti remaining on the date of enactment of this Act; and (3) that through February 1, 2012, new assistance to Haiti should be primarily grants.
 
Expresses the sense of the Senate that international financial institutions should cancel any debt incurred by Haiti after the date of enactment of this Act and before February 1, 2012, so that Haiti can rebuild after the devastation of the January 2010 earthquake.
 
 
Urges the Secretary to: (1) instruct the U.S. Executive Director of the International Monetary Fund (IMF) to advocate the use of certain proceeds to provide debt stock relief, debt service relief, loan subsidies, and grants for Haiti; (2) support the creation of a multilateral trust fund for Haiti that would leverage U.S. contributions and promote bilateral donations for investing in Haiti's future; and (3) require the U.S. Executive Director of the Inter-American Development Bank to seek to increase earnings transfer to the Fund for Special Operations and to a trust fund or grant facility for Haiti.
 
Urges the Secretary and the Secretary of State to use all appropriate diplomatic influence to secure cancellation of all remaining bilateral debt of Haiti.


Legislative actions:
action_date: 2010-03-09
text: Held at the desk.
action_date: 2010-03-09
text: Received in the House.
action_date: 2010-03-05
text: Message on Senate action sent to the House.
action_date: 2010-03-05
text: Passed Senate with amendments by Unanimous Consent. (consideration: CR S1239-1240; text as reported in Senate: CR S1239; text as passed Senate: CR S1239-1240)
action_date: 2010-03-05
text: Passed/agreed to in Senate: Passed Senate with amendments by Unanimous Consent.(consideration: CR S1239-1240; text as reported in Senate: CR S1239; text as passed Senate: CR S1239-1240)
action_date: 2010-02-25
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 276.
action_date: 2010-02-25
text: Committee on Foreign Relations. Reported by Senator Kerry with amendments. With written report No. 111-128.
action_date: 2010-02-25
text: Committee on Foreign Relations. Reported by Senator Kerry with amendments. With written report No. 111-128.
action_date: 2010-02-24
text: Committee on Foreign Relations. Ordered to be reported without amendment favorably.
action_date: 2010-01-28
text: Read twice and referred to the Committee on Foreign Relations.
action_date: 2010-01-28
text: Introduced in Senate