TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Missile Defense Defend and Deter Act 
of 2016''.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) It is in the highest strategic interest of the United 
        States to field a fully operational missile defense system to 
        defend against threats from intercontinental ballistic missiles 
        (ICBMs) of rogue nations, including North Korea and Iran.
            (2) In the past year, the Democratic People's Republic of 
        Korea tested a nuclear weapon and an intercontinental ballistic 
        missile and has made claims that it now possesses the ability 
        to miniaturize a nuclear warhead.
            (3) The ground-based midcourse defense (GMD) element of the 
        ballistic missile defense system (BMDS) is one of the most 
        critical capabilities needed to defend the United States 
        against threats from intercontinental ballistic missiles, 
        conventional and nuclear.
            (4) The test program of the Missile Defense Agency provides 
        vital data to demonstrate the operational effectiveness, 
        suitability, and survivability of the ballistic missile defense 
        system, and it contributes to United States nonproliferation 
        goals by sending a very credible message to the international 
        community on the ability of the United States to defeat 
        ballistic missiles in flight, thus reducing their value to 
        potential adversaries.

SEC. 3. REQUIRED TESTING BY MISSILE DEFENSE AGENCY OF GROUND-BASED 
              MIDCOURSE DEFENSE ELEMENT OF BALLISTIC MISSILE DEFENSE 
              SYSTEM.

    (a) Testing Required.--Except as provided in subsection (c), not 
less frequently than once each fiscal year, the Director of the Missile 
Defense Agency shall administer an intercept flight test of the ground-
based midcourse defense element of the ballistic missile defense 
system.
    (b) Requirements.--The Director shall ensure that each test carried 
out under subsection (a) provides, when possible, for one or more of 
the following:
            (1) Validation of the operational effectiveness of the 
        ground-based midcourse defense element of the ballistic missile 
        defense system.
            (2) Use of assets in their operational configuration 
        against an inventory of targets to assess all aspects of 
        ground-based midcourse defense elements of the ballistic 
        missile defense system performance in a variety of flight test 
        regimes.
            (3) Use of operational doctrine and real-world constraints.
            (4) Evaluation of new concepts of operations and exercising 
        tactics, techniques, and procedures.
            (5) Mechanisms to assure the confidence of members of the 
        Armed Forces in the basic design of the ground-based midcourse 
        defense element of the ballistic missile defense system, its 
        hit-to-kill effectiveness, and its inherent operational 
        capability.
    (c) Exceptions.--
            (1) Nonintercept test.--The Director may forgo a test under 
        subsection (a) in a fiscal year if the Secretary of Defense, in 
        consultation with the Director, determines that conducting the 
        test would--
                    (A) jeopardize national security;
                    (B) not be successful due to specific ground-based 
                midcourse defense components needing a nonintercept 
                test; and
                    (C) likely lead to failure due to impractical time 
                considerations.
            (2) Funding.--The Director may forgo a test under 
        subsection (a) in a fiscal year if the Secretary of Defense, in 
        consultation with the Director, determines that the test is not 
        sufficiently funded.
            (3) National security waiver.--
                    (A) In general.--The Director may forgo a test 
                under subsection (a) in a fiscal year if the Secretary 
                of Defense, in consultation with the Director of the 
                Missile Defense Agency, Director of National 
                Intelligence, and the Commander of United States 
                Northern Command (NORTHCOM), determines that the 
                provision of testing as described in that subsection is 
                detrimental to the national security interests of the 
                United States.
                    (B) Notice required.--
                            (i) In general.--Not later than 30 days 
                        after forgoing a test pursuant to subparagraph 
                        (A), the Secretary shall submit to the 
                        congressional defense committees notice 
                        regarding the foregone test.
                            (ii) Elements.--Notice submitted under 
                        clause (i) shall include the following:
                                    (I) The rationale for forgoing the 
                                test.
                                    (II) The national security 
                                interests of the United States 
                                preventing the test.
                                    (III) A plan to complete the 
                                intercept test in the following fiscal 
                                year, which does not affect testing in 
                                following fiscal years.
                            (iii) Form.--Each notice under clause (ii) 
                        shall be submitted in an unclassified form, but 
                        may include a classified annex.
    (d) Congressional Defense Committees Defined.--In this section, the 
term ``congressional defense committees'' has the meaning given that 
term in section 101(a)(16) of title 10, United States Code.

SOLUTION: Missile Defense Defend and Deter Act of 2016 This bill requires the Department of Defense (DOD) Missile Defense Agency to administer an intercept flight test of the ground-based midcourse defense element of the ballistic missile defense system at least once each fiscal year.  Each test shall provide for:   validation of the defense element's operational effectiveness; use of assets in their operational configuration against an inventory of targets to assess performance in a variety of flight test regimes;  use of operational doctrine and real-world constraints;  evaluation of new concepts of operations, tactics, and techniques; and  mechanisms to assure the confidence of members of the Armed Forces in the basic design of the ground-based midcourse defense element, its hit-to-kill effectiveness, and its operational capability.   The Agency may forgo a test if:   it would jeopardize national security, not be successful due to specific ground-based midcourse defense components needing a non-intercept test, and likely fail due to impractical time considerations; or  funding is insufficient.  The Agency also may forgo a test if DOD determines that the testing is detrimental to U.S. national security interests and provides notice to Congress.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Facilitating Access to Speedy 
Transmissions for Networks, E-commerce and Telecommunications (FASTNET) 
Act''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--Congress finds the following:
            (1) The Telecommunications Act of 1996 was enacted to 
        foster the rapid deployment of advanced telecommunications and 
        information technologies and services to all Americans by 
        promoting competition and reducing regulation in 
        telecommunications markets nationwide.
            (2) The Telecommunications Act of 1966 specifically 
        recognized the unique abilities and circumstances of local 
        exchange carriers with fewer than two percent of the Nation's 
        subscriber lines installed in the aggregate nationwide.
            (3) Given the markets two percent carriers typically serve, 
        such carriers are uniquely positioned to accelerate the 
        deployment of advanced services and competitive initiatives for 
        the benefit of consumers in less densely populated regions of 
        the Nation.
            (4) Existing regulations are typically tailored to the 
        circumstances of larger carriers and therefore often impose 
        disproportionate burdens on two percent carriers, impeding such 
        carriers' deployment of advanced telecommunications services 
        and competitive initiatives to consumers in less densely 
        populated regions of the Nation.
            (5) Reducing regulatory burdens on two percent carriers 
        will enable such carriers to devote additional resources to the 
        deployment of advanced services and to competitive initiatives 
        to benefit consumers in less densely populated regions of the 
        Nation.
            (6) Reducing regulatory burdens on two percent carriers 
        will increase such carriers' ability to respond to marketplace 
        conditions, allowing them to accelerate deployment of advanced 
        services and competitive initiatives to benefit consumers in 
        less densely populated regions of the Nation.
    (b) Purposes.--The purposes of this Act are--
            (1) to accelerate the deployment of advanced services and 
        the development of competition in the telecommunications 
        industry for the benefit of consumers in all regions of the 
        Nation, consistent with the Telecommunications Act of 1996, by 
        reducing regulatory burdens on local exchange carriers with 
        fewer than two percent of the Nation's subscriber lines 
        installed in the aggregate nationwide;
            (2) to improve such carriers' flexibility to undertake such 
        initiatives; and
            (3) to allow such carriers to redirect resources from 
        paying the costs of such regulatory burdens to increasing 
        investment in such initiatives.

SEC. 3. DEFINITION.

    Section 3 of the Communications Act of 1934 (47 U.S.C. 153) is 
amended--
            (1) by redesignating paragraphs (51) and (52) as paragraphs 
        (52) and (53), respectively; and
            (2) by inserting after paragraph (50) the following:
            ``(51) Two percent carrier.--The term `two percent carrier' 
        means an incumbent local exchange carrier within the meaning of 
        section 251(h) whose access lines, when aggregated with the 
        access lines of any local exchange carrier that such incumbent 
        local exchange carrier directly or indirectly controls, is 
        controlled by, or is under common control with, are fewer than 
        two percent of the Nation's subscriber lines installed in the 
        aggregate nationwide.''.

SEC. 4. REGULATORY RELIEF FOR TWO PERCENT CARRIERS.

    Title II of the Communications Act of 1934 is amended by adding at 
the end thereof a new part IV as follows:

         ``PART IV--PROVISIONS CONCERNING TWO PERCENT CARRIERS

``SEC. 281. REDUCED REGULATORY REQUIREMENTS FOR TWO PERCENT CARRIERS.

    ``(a) Commission To Take Into Account Differences.--In adopting 
rules that apply to incumbent local exchange carriers (within the 
meaning of section 251(h)), the Commission shall separately evaluate 
the burden that any proposed regulatory, compliance, or reporting 
requirements would have on two percent carriers.
    ``(b) Effect of Commission's Failure To Take Into Account 
Differences.--If the Commission adopts a rule that applies to incumbent 
local exchange carriers and fails to separately evaluate the burden 
that any proposed regulatory, compliance, or reporting requirement 
would have on two percent carriers, the Commission shall not enforce 
the rule against two percent carriers unless and until the Commission 
performs such separate evaluation.
    ``(c) Additional Review Not Required.--Nothing in this section 
shall be construed to require the Commission to conduct a separate 
evaluation under subsection (a) if the rules adopted do not apply to 
two percent carriers, or such carriers are exempted from such rules.
    ``(d) Savings Clause.--Nothing in this section shall be construed 
to prohibit any size-based differentiation among carriers mandated by 
this Act, chapter 6 of title 5, United State Code, the Commission's 
rules, or any other provision of law.
    ``(e) Effective Date.--The provisions of this section shall apply 
with respect to any rule adopted on or after the date of enactment of 
this section.

``SEC. 282. LIMITATION OF REPORTING REQUIREMENTS.

    ``(a) Limitation.--The Commission shall not require a two percent 
carrier--
            ``(1) to file cost allocation manuals or to have such 
        manuals audited or attested, but a two percent carrier that 
        qualifies as a class A carrier shall annually certify to the 
        Commission that the two percent carrier's cost allocation 
        complies with the rules of the Commission; or
            ``(2) to file Automated Reporting and Management 
        Information Systems (ARMIS) reports, except for purposes of 
        section 224.
    ``(b) Preservation of Authority.--Except as provided in subsection 
(a), nothing in this Act limits the authority of the Commission to 
obtain access to information under sections 211, 213, 215, 218, and 220 
with respect to two percent carriers.

``SEC. 283. INTEGRATED OPERATION OF TWO PERCENT CARRIERS.

    ``The Commission shall not require any two percent carrier to 
establish or maintain a separate affiliate to provide any common 
carrier or noncommon carrier services, including local and 
interexchange services, commercial mobile radio services, advanced 
services (within the meaning of section 706 of the Telecommunications 
Act of 1996), paging, Internet, information services or other enhanced 
services, or other services. The Commission shall not require any two 
percent carrier and its affiliates to maintain separate officers, 
directors, or other personnel, network facilities, buildings, research 
and development departments, books of account, financing, marketing, 
provisioning, or other operations.

``SEC. 284. PARTICIPATION IN TARIFF POOLS AND PRICE CAP REGULATION.

    ``(a) NECA Pool.--The participation or withdrawal from 
participation by a two percent carrier of one or more study areas in 
the common line tariff administered and filed by the National Exchange 
Carrier Association or any successor tariff or administrator shall not 
obligate such carrier to participate or withdraw from participation in 
such tariff for any other study area. The Commission may require a two 
percent carrier to give 60 days notice of its intent to participate or 
withdraw from participation in such common line tariff with respect to 
a study area. Except as permitted by section 310(f)(3), a two percent 
carrier's election under this subsection shall be binding for one year 
from the date of the election.
    ``(b) Price Cap Regulation.--A two percent carrier may elect to be 
regulated by the Commission under price cap rate regulation, or elect 
to withdraw from such regulation, for one or more of its study areas. 
The Commission shall not require a carrier making an election under 
this subsection with respect to any study area or areas to make the 
same election for any other study area. Except as permitted by section 
310(f)(3), a two percent carrier's election under this subsection shall 
be binding for one year from the date of the election.

``SEC. 285. DEPLOYMENT OF NEW TELECOMMUNICATIONS SERVICES BY TWO 
              PERCENT COMPANIES.

    ``(a) One-Day Notice of Deployment.--The Commission shall permit 
two percent carriers to introduce new interstate telecommunications 
services by filing a tariff on one day's notice showing the charges, 
classifications, regulations, and practices therefor, without obtaining 
a waiver, or make any other showing before the Commission in advance of 
the tariff filing. The Commission shall not have authority to approve 
or disapprove the rate structure for such services shown in such 
tariff.
    ``(b) Definition.--For purposes of subsection (a), the term `new 
interstate telecommunications service' means a class or subclass of 
service not previously offered by the two percent carrier that enlarges 
the range of service options available to ratepayers of such carrier.

``SEC. 286. ENTRY OF COMPETING CARRIER.

    ``(a) Pricing Flexibility.--Notwithstanding any other provision of 
this Act, any two percent carrier shall be permitted to de-average its 
interstate switched or special access rates, file tariffs on one day's 
notice, and file contract-based tariffs for interstate switched or 
special access services immediately upon certifying to the Commission 
that a telecommunications carrier unaffiliated with such carrier is 
engaged in facilities-based entry within such carrier's service area. A 
two percent carrier subject to rate-of-return regulation with respect 
to an interstate switched or special access service, for which pricing 
flexibility has been exercised pursuant to this subsection, shall 
compute its interstate rate of return based on the nondiscounted rate 
for such service.
    ``(b) Streamlined Pricing Regulation.--Notwithstanding any other 
provision of this Act, upon receipt by the Commission of a 
certification by a two percent carrier that--
            ``(1) a local exchange carrier, or its affiliate, or
            ``(2) a local exchange carrier operated by, or owned in 
        whole or part by, a governmental authority,
is engaged in facilities-based entry within the two percent carrier's 
service area, the Commission shall regulate the two percent carrier as 
non-dominant and shall not require the tariffing of the interstate 
service offerings of the two percent carrier.
    ``(c) Participation in Exchange Carrier Association Tariff.--A two 
percent carrier that meets the requirements of subsection (a) or (b) of 
this section with respect to one or more study areas shall be permitted 
to participate in the common line tariff administered and filed by the 
National Exchange Carrier Association or any successor tariff or 
administrator, by electing to include one or more of its study areas in 
such tariff.
    ``(d) Definitions.--For purposes of this section:
            ``(1) Facilities-based entry.--The term `facilities-based 
        entry' means, within the service area of a two percent 
        carrier--
                    ``(A) the provision or procurement of local 
                telephone exchange switching or its equivalent; and
                    ``(B) the provision of telephone exchange service 
                to at least one unaffiliated customer.
            ``(2) Contract-based tariff.--The term `contract-based 
        tariff' shall mean a tariff based on a service contract entered 
        into between a two percent carrier and one or more customers of 
        such carrier. Such tariff shall include--
                    ``(A) the term of the contract, including any 
                renewal options;
                    ``(B) a brief description of each of the services 
                provided under the contract;
                    ``(C) minimum volume commitments for each service, 
                if any;
                    ``(D) the contract price for each service or 
                services at the volume levels committed to by the 
                customer or customers;
                    ``(E) a brief description of any volume discounts 
                built into the contract rate structure; and
                    ``(F) a general description of any other 
                classifications, practices, and regulations affecting 
                the contract rate.
            ``(3) Service area.--The term `service area' has the same 
        meaning as in section 214(e)(5).

``SEC. 287. SAVINGS PROVISIONS.

    ``(a) Commission Authority.--Nothing in this part shall be 
construed to restrict the authority of the Commission under sections 
201 through 208.
    ``(b) Rural Telephone Company Rights.--Nothing in this part shall 
be construed to diminish the rights of rural telephone companies 
otherwise accorded by this Act, or the rules, policies, procedures, 
guidelines, and standards of the Commission as of the date of enactment 
of this section.
    ``(c) State Authority.--Nothing in this part shall be construed to 
limit or affect any authority (as of August 1, 2001) of the States over 
charges, classifications, practices, services, facilities, or 
regulations for or in connection with intrastate communications service 
by wire or radio of any carrier.''.

SEC. 5. LIMITATION ON MERGER REVIEW.

    (a) Amendment.--Section 310 of the Communications Act of 1934 (47 
U.S.C. 310) is amended by adding at the end the following:
    ``(f) Deadline for Making Public Interest Determination.--
            ``(1) Time limit.--In connection with any merger between 
        two percent carriers, or the acquisition, directly or 
        indirectly, by a two percent carrier or its affiliate of 
        securities or assets of another carrier or its affiliate, if 
the merged or acquiring carrier remains a two percent carrier after the 
merger or acquisition, the Commission shall make any determinations 
required by this section and section 214, and shall rule on any 
petition for waiver of the Commission's rules or other request related 
to such determinations, not later than 60 days after the date an 
application with respect to such merger or acquisition is submitted to 
the Commission.
            ``(2) Approval absent action.--If the Commission does not 
        approve or deny an application as described in paragraph (1) by 
        the end of the period specified, the application shall be 
        deemed approved on the day after the end of such period. Any 
        such application deemed approved under this subsection shall be 
        deemed approved without conditions.
            ``(3) Election permitted.--The Commission shall permit a 
        two percent carrier to make an election pursuant to section 284 
        with respect to any local exchange facilities acquired as a 
        result of a merger or acquisition that is subject to the review 
        deadline established in paragraph (1) of this subsection.''.
    (b) Effective Date.--The provisions of this section shall apply 
with respect to any application that is submitted to the Commission on 
or after the date of enactment of this Act. Applications pending with 
the Commission on the date of enactment of this Act shall be subject to 
the requirements of this section as if they had been filed with the 
Commission on the date of enactment of this Act.

SEC. 6. TIME LIMITS FOR ACTION ON PETITIONS FOR RECONSIDERATION OR 
              WAIVER.

    (a) Amendment.--Section 405 of the Communications Act of 1934 (47 
U.S.C. 405) is amended by adding to the end the following:
    ``(c) Expedited Action Required.--
            ``(1) Time limit.--Within 90 days after receiving from a 
        two percent carrier a petition for reconsideration or other 
        review filed under this section or a petition for waiver of a 
        rule, policy, or other Commission requirement, the Commission 
        shall issue an order granting or denying such petition. If the 
        Commission fails to act on a petition for waiver subject to the 
        requirements of this section within this 90-day period, the 
        relief sought in such petition shall be deemed granted. If the 
        Commission fails to act on a petition for reconsideration or 
        other review subject to the requirements of this section within 
        such 90-day period, the Commission's enforcement of any rule 
        the reconsideration or other review of which was specifically 
        sought by the petitioning party shall be stayed with respect to 
        that party until the Commission issues an order granting or 
        denying such petition.
            ``(2) Finality of action.--Any order issued under paragraph 
        (1), or any grant of a petition for waiver that is deemed to 
        occur as a result of the Commission's failure to act under 
        paragraph (1), shall be a final order and may be appealed.''.
    (b) Effective Date.--The provisions of this section shall apply 
with respect to any petition for reconsideration or other review or 
petition for waiver that is submitted to the Commission on or after the 
date of enactment of this Act. Petitions for reconsideration or 
petitions for waiver pending with the Commission on the date of 
enactment of this Act shall be subject to the requirements of this 
section as if they had been filed on the date of enactment of this Act.

SEC. 7. NATIONAL SECURITY AND LAW ENFORCEMENT EXCEPTIONS.

    Notwithstanding sections 310 and 405 of the Communications Act of 
1934 (47 U.S.C. 310 and 405), the 60-day time period under section 
310(f)(1) of that Act, as added by section 5 of this Act, and the 90-
day time period under section 405(c)(1) of that Act, as added by 
section 6 of this Act, shall not apply to a petition or application 
under section 310 or 405 if an Executive Branch agency with cognizance 
over national security, law enforcement, or public safety matters, 
including the Department of Defense, Department of Justice, and the 
Federal Bureau of Investigation, submits a written filing to the 
Federal Communications Commission advising the Commission that the 
petition or application may present national security, law enforcement, 
or public safety concerns that may not be resolved within the 60-day or 
90-day time period, respectively.

SOLUTION: Facilitating Access to Speedy Transmissions for Networks, E-commerce and Telecommunications (FASTNET) Act - Amends the Communications Act of 1934 to define a "two percent carrier" (carrier) as an incumbent local exchange carrier whose access lines, when combined with the access lines of any other carrier that such carrier controls, are fewer than two percent of the subscriber lines installed in the aggregate nationwide.Directs the Federal Communications Commission (FCC), in adopting rules that apply to such carriers, to separately evaluate the burden that any proposed regulatory, compliance, or reporting requirements would have on such carriers. Prohibits the FCC from requiring such carriers to: (1) file cost allocation manuals or Automated Reporting and Management Information Systems reports; or (2) establish or maintain a separate affiliate to provide any common carrier or noncommon carrier services.Limits carrier participation in tariff pools and price cap regulation.Requires the FCC to permit such carriers to introduce new interstate telecommunications services by filing a tariff on one day's notice.Allows such carriers to de-average its interstate switched or special access rates, file tariffs on one day's notice, and file contract-based tariffs for switched or special access services upon certifying that a telecommunications carrier unaffiliated with such carrier is engaged in facilities-based entry within such carrier's service area. Limits FCC carrier merger review authority. Provides time limits for FCC action on petitions for reconsideration or waiver of a rule, policy, or requirement.

PROBLEM: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``IMF Reform and Integrity Act''.

SEC. 2. OPPOSITION OF THE UNITED STATES TO FINANCIAL PARTICIPATION BY 
              THE INTERNATIONAL MONETARY FUND IN FOREIGN-LED 
              AGREEMENTS.

    The Bretton Woods Agreements Act (22 U.S.C. 286-286xx) is amended 
by adding at the end the following:

``SEC. 73. OPPOSITION OF THE UNITED STATES TO FINANCIAL PARTICIPATION 
              BY THE INTERNATIONAL MONETARY FUND IN FOREIGN-LED 
              AGREEMENTS.

    ``The Secretary of the Treasury shall instruct--
            ``(1) the United States Executive Director at the Fund--
                    ``(A) to use the voice and vote of the United 
                States to oppose the provision by the Fund of 
                financing, including the disbursement of financing 
                approved before the enactment of this section, in 
                conjunction with financing to be provided by a 
                multilateral organization of which the United States is 
                not a member if--
                            ``(i) the present value of the financing to 
                        be provided by the multilateral organization 
                        would exceed the present value of the financing 
                        to be provided by the Fund; or
                            ``(ii) the obligation of the debtor with 
                        respect to the financing provided by the Fund 
                        is not explicitly made senior to the obligation 
                        of the debtor with respect to the financing 
                        provided by the multilateral organization; and
                    ``(B) not later than 7 days after the approval by 
                the Fund of any financing to which paragraph (1) 
                applies, to transmit a certification to the Committees 
                on Financial Services and Foreign Affairs of the House 
                of Representatives and the Committees on Banking, 
                Housing, and Urban Affairs and Foreign Relations of the 
                Senate that the obligation of the debtor with respect 
                to the financing provided by the Fund has been 
                explicitly made senior to the obligation of the debtor 
                with respect to the financing provided by the 
                multilateral organization; and
            ``(2) the United States Governor of the Fund to use the 
        voice and vote of the United States to oppose any proposal to 
        make additional resources available to the Fund in the 
        aggregate, or increase the quota of any member of the Fund who 
        is a member of a multilateral organization of which the United 
        States is not a member, if, during the 24 months before 
        consideration of the proposal by the Board of Governors of the 
        Fund--
                    ``(A) the Fund has approved the provision of, or 
                disbursed, financing in conjunction with financing 
                provided or to be provided by the multilateral 
                organization, as described in paragraph (1); or
                    ``(B) an obligation to the Fund resulting from such 
                an approval or disbursement has not been repaid in 
                full.''.

SEC. 3. REPEAL OF THE NEW ARRANGEMENTS TO BORROW; RESCISSION OF FUNDS.

    (a) Repeal.--
            (1) In general.--Section 17 of the Bretton Woods Agreements 
        Act (22 U.S.C. 286e-2) is amended--
                    (A) by striking subsections (a), (b), (d), and (f); 
                and
                    (B) in subsection (c)--
                            (i) by striking ``(c)''; and
                            (ii) by striking ``In addition to the 
                        amount authorized in subsection (b), there'' 
                        and inserting ``There''.
            (2) Conforming repeal.--Section 9001 of the Department of 
        State, Foreign Operations, and Related Programs Appropriations 
        Act, 2016 (22 U.S.C. 286e-2 note; division K of Public Law 114-
        113) is amended by striking paragraph (3).
    (b) Rescission.--The unobligated balances made available to carry 
out subsections (a) and (b) of section 17 of the Bretton Woods 
Agreements Act, as in effect before the enactment of this Act, are 
rescinded.

SEC. 4. OPPOSITION OF THE UNITED STATES TO INTERNATIONAL MONETARY FUND 
              LOAN TO A COUNTRY WHOSE PUBLIC DEBT IS NOT LIKELY TO BE 
              SUSTAINABLE IN THE MEDIUM TERM.

    Section 68(a) of the Bretton Woods Agreements Act (22 U.S.C. 
286tt(a)) is amended--
            (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) Presidential waiver authority.--The President of the 
        United States may waive paragraph (2) if the President provides 
        a written certification to the Committees on Financial Services 
        and Foreign Affairs of the House of Representatives and the 
        Committees on Foreign Relations and Banking, Housing, and Urban 
        Affairs of the Senate that the waiver is important to the 
        national security interest of the United States, and includes 
        with the certification a written statement of the reasons 
        therefor.''.

SEC. 5. CONGRESSIONAL NOTIFICATION WITH RESPECT TO EXCEPTIONAL ACCESS 
              LENDING.

    The Bretton Woods Agreements Act (22 U.S.C. 286-286xx), as amended 
by section 2 of this Act, is amended by adding at the end the 
following:

``SEC. 74. CONGRESSIONAL NOTIFICATION WITH RESPECT TO EXCEPTIONAL 
              ACCESS LENDING.

    ``The United States Executive Director at the International 
Monetary Fund may not support 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 proposed 
alteration, to receive exceptional access lending, unless, not later 
than 30 days before consideration of the proposal by the Board of 
Executive Directors of the Fund, the Secretary of the Treasury has 
submitted to the Committee on Financial Services and the Committee on 
Foreign Affairs of the House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs and the Committee on Foreign 
Relations of the Senate a report on the justification for the proposal 
and the effects of the proposed alteration on moral hazard and 
repayment risk at the Fund.''.

SEC. 6. MONITORING AND TECHNICAL ASSISTANCE.

    Nothing in this Act shall be interpreted as requiring the 
opposition of the United States to the provision of monitoring, 
technical assistance, or advisory services by the International 
Monetary Fund.

SOLUTION:
IMF Reform and Integrity Act This bill amends the Bretton Woods Agreements Act to direct the United States to oppose:   International Monetary Fund (IMF) financing in conjunction with financing by a multilateral organization of which the United States is not a member if such organization's financing would exceed the IMF's financing or the debtor's IMF obligation is not made explicitly senior to the debtor's obligation to the multilateral organization;  any proposal to make additional resources available to the IMF or to increase the quota of any IMF member who is a member of a multilateral organization of which the United States is not a member if, during the previous 24 months, either the IMF has approved or disbursed financing in conjunction with financing provided by such multilateral organization or an obligation to the IMF from such approval or disbursement has not been fully repaid;   any proposed IMF loan to a country about which an IMF staff analytical report finds no high probability that the country's public debt is sustainable in the medium term (currently, only if the proposed loan is not likely to be repaid in full); and  any proposal that would alter IMF criteria for exceptional access lending such that an ineligible country would become eligible for such lending, unless the Department of the Treasury has submitted a justification for such proposal, including its effects on repayment risk.   The bill cancels and rescinds certain deactivated IMF funds.