No Dollars for Dictators Act of 2023

Bill: 118-s-3057
Sponsor: full_name: Sen. Kennedy, John [R-LA]
Introduced: 2023-10-17
Policy area: International Affairs
Latest action: action_date: 2023-10-17
text: Read twice and referred to the Committee on Foreign Relations.

Summaries:
action_date: 2023-10-17
action_desc: Introduced in Senate
text: <p><strong>No Dollars for Dictators Act of 2023</strong></p><p>This bill imposes additional restrictions on the U.S. government's authority to vote on Special Drawing Rights (SDR) allocations at the International Monetary Fund (IMF).</p><p>(The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)</p><p>Specifically, U.S. representatives to the IMF may not vote for SDR allocations to a country if the President finds that the country's government has (1) committed genocide in the last 10 years, or (2) repeatedly supported international terrorism.</p>

tv_txt: II 118th CONGRESS 1st Session S. 3057 IN THE SENATE OF THE UNITED STATES October 17, 2023 Mr. Kennedy (for himself, Mrs. Fischer , Mr. Hagerty , Mr. Braun , Mr. Grassley , Mr. Scott of Florida , and Mr. Barrasso ) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations A BILL To prohibit allocations of Special Drawing Rights at the International Monetary Fund for perpetrators of genocide and state sponsors of terrorism without congressional authorization.

1. Short title This Act may be cited as the No Dollars for Dictators Act of 2023 . 2. Prohibition on allocations of Special Drawing Rights at International Monetary Fund for perpetrators of genocide and state sponsors of terrorism without congressional authorization Section 6 of the Special Drawing Rights Act ( 22 U.S.C. 286q ) is amended by adding at the end the following: (c) Unless Congress by law authorizes such action, neither the President nor any person or agency shall on behalf of the United States vote to allocate Special Drawing Rights under article XVIII, sections 2 and 3, of the Articles of Agreement of the Fund to a member country of the Fund, if the government of the member country has— (1) committed genocide at any time during the 10-year period ending with the date of the vote; or (2) been determined by the Secretary of State, as of the date of the enactment of the No Dollars for Dictators Act of 2023 , to have repeatedly provided support for acts of international terrorism, for purposes of— (A) section 1754(c)(1)(A)(i) of the Export Control Reform Act of 2018 ( 50 U.S.C. 4813(c)(1)(A)(i) ); (B) section 620A of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2371 ); (C) section 40(d) of the Arms Export Control Act ( 22 U.S.C. 2780(d) ); or (D) any other provision of law. .