Multilateral Debt Relief Act of 2005
Latest action · Jul 29, 2005 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
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.
- IntroducedJun 30, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Multilateral Debt Relief Act of 2005 - Authorizes: (1) the Secretary of the Treasury to instruct the U.S. executive director of each international financial institution (the World Bank, the International Monetary Fund, the Inter-American Development Bank, the African Development Bank, and the African Development Fund) to reach an agreement among the shareholders to permanently cancel 100 percent of the debts owed to each such institution by an eligible country (as defined by this Act); and (2) appropriations for the U.S. contribution to such agreement if other members of the international financial institutions contribute funds for such purpose.
Expresses the sense of Congress that the Secretary should pursue additional bilateral and multilateral debt relief for each country eligible for International Development Association grants.
Amends the International Development Association Act to authorize, and authorize appropriations for, the U.S. Governor of the Association to contribute necessary sums to the fourteenth replenishment of the Association.
Amends the African Development Fund Act to authorize, and authorize appropriations for, The U.S. Governor of the Fund to contribute necessary sums to the tenth replenishment of the Fund.
Authorizes appropriations to fulfill U.S. commitments to the Enhanced HIPC Initiative (as defined by this Act).
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Jun 30, 2005 to Oct 6, 2005; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NJ | Donald M. Payne | Original | Jun 30, 2005 |
| D-CA | Diane E. Watson | Sep 20, 2005 | |
| D-OR | Earl Blumenauer | Sep 20, 2005 | |
| D-NY | Gregory W. Meeks | Sep 20, 2005 | |
| R-IA | James A. Leach | Sep 20, 2005 | |
| D-NY | Joseph Crowley | Sep 20, 2005 | |
| D-CA | Juanita Millender-McDonald | Sep 20, 2005 | |
| D-IL | Lane Evans | Sep 20, 2005 | |
| D-CA | Michael M. Honda | Sep 20, 2005 | |
| D-FL | Robert Wexler | Sep 20, 2005 | |
| R-CO | Thomas G. Tancredo | Sep 20, 2005 | |
| D-CA | Tom Lantos | Sep 20, 2005 | |
| D-NY | Eliot L. Engel | Sep 27, 2005 | |
| D-LA | William J. Jefferson | Sep 27, 2005 | |
| D-MI | Carolyn C. Kilpatrick | Sep 28, 2005 | |
| D-MA | James P. McGovern | Oct 6, 2005 |
Committees 2
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 Jun 30, 2005 |
| Domestic Monetary Policy and Technology Subcommittee | Referred Jul 29, 2005 | |
| House | Foreign Affairs Committee | Referred Jun 30, 2005 |
Actions 3
Everything that happened, newest first.
- Jul 29, 2005Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
- Jun 30, 2005Introduced in House
- Jun 30, 2005Referred to the Committee on Financial Services, and in addition to the Committee on International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1320 | Multilateral Debt Relief Act of 2005 | Identical bill | Jun 28, 2005 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To provide multilateral debt cancellation for Heavily Indebted Poor Countries, and for other purposes.
- Short Titles as Introduced
- Multilateral Debt Relief Act of 2005
Subjects
Assigned by the Library of Congress. Policy area: Foreign Trade and International Finance.
- Africa (Sub-Saharan)
- Authorization
- Congress
- Congress and foreign policy
- Congressional reporting requirements
- Debt agreements
- Debt relief
- Developing countries
- Development credit institutions
- Economics and Public Finance
- Foreign Trade and International Finance
- International Affairs
- International monetary system
- Negotiations
Text 1
Each version as it was printed, newest first.
- Jun 30, 2005Introduced in House
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.