HR 1642 · 107th Congress 2001–2003, ended

Debt Cancellation for the New Millennium Act

Introduced Apr 26, 2001 Originated House Sponsor Maxine Waters D-CA

Latest action · May 10, 2001 Referred to the Subcommittee on International Monetary Policy and Trade.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedApr 26, 2001
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Debt Cancellation for the New Millennium Act - Amends the International Financial Institutions Act to urge the President to commence immediately efforts within the Paris Club of Official Creditors, as well as the International Bank for Reconstruction and Development (World Bank), the International Monetary Fund (IMF), and other appropriate multilateral development institutions, to accomplish certain modifications in the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative, including requiring that: (1) the amount of debt relief provided by the IMF and the World Bank under the Enhanced HIPC Initiative for a HIPC be sufficient to completely cancel 100 percent of the HIPC's debt owed to such institutions; (2) no provision of debt relief under the Initiative be conditioned on any country's implementing a structural adjustment or stabilization program of the Poverty Reduction and Growth Facility of the IMF or any other such program operated solely or jointly by the IMF or the World Bank; (3) all HIPCs that are working in good faith to develop and implement their Poverty Reduction Strategy Papers (PRSPs) pursuant to the Initiative not be required to make service payments on their debts (ensuring that the savings from such debt relief will be invested in HIV/AIDS treatment and prevention, health care, education, and poverty reduction programs); and (4) the eligibility requirements of the Initiative be revised to make Bangladesh, Haiti, and Nigeria eligible.

Directs the Secretary of the Treasury to provide, upon request, for technical assistance to HIPCs regarding compliance with the conditions for debt relief pursuant to the Initiative, including the development and implementation of their PSRPs.

Cosponsors 96

Members who signed on, in the order they did. Signatures ran from Apr 26, 2001 to Oct 1, 2002; 4 are original cosponsors, there from the day it was introduced.

Seat	Cosponsor		Signed on
D-CA	Barbara Lee	Original	Apr 26, 2001
I-VT	Bernard Sanders	Original	Apr 26, 2001
D-NY	Carolyn B. Maloney	Original	Apr 26, 2001
R-AL	Spencer Bachus	Original	Apr 26, 2001
D-MD	Albert Russell Wynn		May 3, 2001
D-FL	Alcee L. Hastings		May 3, 2001
D-CA	Bob Filner		May 3, 2001
D-NY	Charles B. Rangel		May 3, 2001
D-FL	Corrine Brown		May 3, 2001
D-GA	Cynthia A. McKinney		May 3, 2001
D-OH	Dennis J. Kucinich		May 3, 2001
D-NJ	Donald M. Payne		May 3, 2001
D-AL	Earl F. Hilliard		May 3, 2001
D-DC	Eleanor Holmes Norton		May 3, 2001
D-NC	Eva M. Clayton		May 3, 2001
D-CA	Fortney Pete Stark		May 3, 2001
D-SC	James E. Clyburn		May 3, 2001
D-IL	Janice D. Schakowsky		May 3, 2001
D-NY	Jerrold Nadler		May 3, 2001
D-MI	John Conyers, Jr.		May 3, 2001
D-NY	Joseph Crowley		May 3, 2001
D-IN	Julia Carson		May 3, 2001
D-IL	Lane Evans		May 3, 2001
D-CA	Lynn C. Woolsey		May 3, 2001
D-OH	Marcy Kaptur		May 3, 2001
D-HI	Neil Abercrombie		May 3, 2001
D-WV	Nick J. Rahall II		May 3, 2001
D-TX	Sheila Jackson Lee		May 3, 2001
D-WI	Tammy Baldwin		May 3, 2001
D-MO	Wm. Lacy Clay		May 3, 2001
D-MA	Barney Frank		May 8, 2001
D-CA	Calvin M. Dooley		May 8, 2001
D-VI	Donna M. Christensen		May 8, 2001
D-TX	Eddie Bernice Johnson		May 8, 2001
D-MA	James P. McGovern		May 8, 2001
D-FL	Carrie P. Meek		May 10, 2001
D-NY	Gregory W. Meeks		May 10, 2001
R-IA	James A. Leach		May 10, 2001
D-IL	Jesse L. Jackson, Jr.		May 10, 2001
D-NY	John J. LaFalce		May 10, 2001
D-CA	Juanita Millender-McDonald		May 10, 2001
D-MD	Elijah E. Cummings		May 17, 2001
D-MN	James L. Oberstar		May 17, 2001
D-VA	James P. Moran		May 17, 2001
D-IL	Jerry F. Costello		May 17, 2001
D-MA	John F. Tierney		May 17, 2001
D-GA	John Lewis		May 17, 2001
D-MI	Lynn N. Rivers		May 17, 2001
D-NY	Major R. Owens		May 17, 2001
D-PA	Robert A. Brady		May 17, 2001
D-TX	Ruben Hinojosa		May 17, 2001
D-OH	Sherrod Brown		May 17, 2001
R-MD	Constance A. Morella		May 21, 2001
D-NY	Edolphus Towns		May 21, 2001
D-CA	Nancy Pelosi		May 21, 2001
D-NJ	Robert E. Andrews		May 21, 2001
D-OR	Earl Blumenauer		May 24, 2001
D-NY	Jose E. Serrano		May 24, 2001
D-CA	Tom Lantos		May 24, 2001
D-MS	Bennie G. Thompson		Jun 7, 2001
D-TN	Bob Clement		Jun 7, 2001
D-IL	Bobby L. Rush		Jun 7, 2001
D-MI	David E. Bonior		Jun 7, 2001
D-AZ	Ed Pastor		Jun 7, 2001
D-MO	Karen McCarthy		Jun 7, 2001
D-NY	Nydia M. Velázquez		Jun 7, 2001
D-OR	Peter A. DeFazio		Jun 7, 2001
D-WI	Thomas M. Barrett		Jun 7, 2001
D-WA	Adam Smith		Jun 14, 2001
D-CA	George Miller		Jun 14, 2001
D-ME	Thomas H. Allen		Jun 14, 2001
D-IL	Danny K. Davis		Jun 27, 2001
D-CA	Lucille Roybal-Allard		Jun 27, 2001
D-CO	Mark Udall		Jun 27, 2001
D-TX	Nick Lampson		Jul 11, 2001
D-MD	Steny H. Hoyer		Jul 20, 2001
D-UT	Jim Matheson		Aug 2, 2001
D-MA	Stephen F. Lynch		Dec 19, 2001
D-IL	Luis V. Gutierrez		Apr 17, 2002
D-FL	Robert Wexler		Apr 17, 2002
D-PA	Joseph M. Hoeffel		Apr 18, 2002
D-AS	Eni F. H. Faleomavaega		Apr 25, 2002
D-TN	Harold E. Ford Jr.		Apr 25, 2002
D-WA	Jim McDermott		Apr 25, 2002
D-NY	Maurice D. Hinchey		Apr 25, 2002
D-NY	Michael R. McNulty		Apr 25, 2002
D-OH	Stephanie Tubbs Jones		Apr 25, 2002
D-TX	Charles A. Gonzalez		May 2, 2002
D-CA	Henry A. Waxman		May 2, 2002
D-NY	Louise McIntosh Slaughter		May 2, 2002
D-TX	Ken Bentsen		May 7, 2002
D-IL	Rod R. Blagojevich		May 14, 2002
D-KS	Dennis Moore		May 23, 2002
D-MN	Betty McCollum		Sep 9, 2002
D-MA	Edward J. Markey		Sep 19, 2002
D-CA	Zoe Lofgren		Oct 1, 2002

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Financial Services Committee	Referred Apr 26, 2001
	International Monetary Policy and Trade Subcommittee	Referred May 10, 2001

Actions 3

Everything that happened, newest first.

May 10, 2001Referred to the Subcommittee on International Monetary Policy and Trade.
Apr 26, 2001Introduced in House
Apr 26, 2001Referred to the House Committee on Financial Services.

In the Congressional Record 1

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

Where	In the Record	Members	Date
House	Debate and remarks H4203	Elijah E. Cummings D-MD	Jul 18, 2001

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Printed hearings 1

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

Number	Hearing	Committee	Held
Serial No. 107-78	REAUTHORIZATION REQUESTS ON U.S. PARTICIPATION IN THE INTERNATIONAL DEVELOPMENT ASSOCIATION AND THE AFRICAN DEVELOPMENT BANK166 pages	Financial Services Committee	Jul 19, 2002–Jul 25, 2002

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To urge reforms of the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative, and for other purposes.
Short Titles as Introduced: Debt Cancellation for the New Millennium Act

Subjects

Assigned by the Library of Congress. Policy area: Foreign Trade and International Finance.

Text 1

Each version as it was printed, newest first.

Apr 26, 2001Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.