HR 1130 · 109th Congress 2005–2007, ended

JUBILEE Act of 2005

Introduced Mar 3, 2005 Originated House Sponsor Maxine Waters D-CA

Fact sheet

Latest action · May 19, 2005 Sponsor introductory remarks on measure. (CR H3685)

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.

  1. IntroducedMar 3, 2005
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Justice and Understanding By International Loan Elimination and Equity Act of 2005 or JUBILEE Act of 2005 - Amends the International Financial Institutions Act to require the Secretary of the Treasury to commence immediate efforts, within the Paris Club of Official Creditors, the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (World Bank), and other international financial institutions (multilateral development institutions (MDI's)) to accomplish: (1) the cancellation of all debts owed to each institution by specified eligible poor countries, and the financing of such debt cancellation from the institution's ongoing operations, procedures, and accounts; (2) the limitation of any waiting period before receipt of debt cancellation to one month from the date of an eligible poor country's application for it; and (3) encouragement of the government of each eligible poor country to allocate at least 20 percent of its national budget, including the savings from such debt cancellation, for the provision of basic health care services, education services, and clean water services to individuals in the country.

Sets forth requirements for: (1) establishment of a framework to ensure transparency regarding each international financial institution's activities; and (2) availability on the Treasury Department's website of U.S. Executive Directors' remarks at meetings of international financial institutions' Boards of Directors.

Requires the Secretary to commence immediate efforts, within the Paris Club, the IMF, and other appropriate MDI's, to ensure that the provision of debt cancellation to such countries is not conditioned on any agreement by such a country to implement or comply with specified policies that deepen poverty or degrade the environment.

Cosponsors 82

Members who signed on, in the order they did. Signatures ran from Mar 3, 2005 to Jul 18, 2006, with 5 there on the day it was introduced.

SeatCosponsorSigned on
D-CABarbara LeeOriginalMar 3, 2005
D-MABarney FrankOriginalMar 3, 2005
D-NYCarolyn B. MaloneyOriginalMar 3, 2005
R-IAJames A. LeachOriginalMar 3, 2005
R-ALSpencer BachusOriginalMar 3, 2005
D-ALArtur DavisMar 16, 2005
I-VTBernard SandersMar 16, 2005
D-MNBetty McCollumMar 16, 2005
D-ILBobby L. RushMar 16, 2005
D-NYCharles B. RangelMar 16, 2005
D-OHDennis J. KucinichMar 16, 2005
D-NJDonald M. PayneMar 16, 2005
D-VIDonna M. ChristensenMar 16, 2005
D-OREarl BlumenauerMar 16, 2005
D-CAGeorge MillerMar 16, 2005
Show all 82 cosponsors

Actions 4

Everything that happened, newest first.

  1. May 19, 2005Sponsor introductory remarks on measure. (CR H3685)
  2. Mar 28, 2005Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
  3. Mar 3, 2005Introduced in House
  4. Mar 3, 2005Referred to the House Committee on Financial Services.

Subjects

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

Text 1

Each version as it was printed, newest first.

  1. Mar 3, 2005Introduced 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.