What is the official ID of this bill?
The official print number for this legislation is HR 1568.
Increased Congressional Oversight of International Funds and Ban for Terrorists
This act aims to increase Congressional oversight over how the United States participates in the allocation of Special Drawing Rights (SDRs) by the International Monetary Fund. This means that decisions to transfer large sums of money to other countries will require Congressional approval, which is intended to prevent the financing of states that support terrorism or commit genocide. For citizens, this means greater transparency and control over how their money is used internationally.
Key points
Increased Congressional Control: The Secretary of the Treasury will not be able to unilaterally approve large international fund allocations without Congressional approval.
Funding Prohibition: Countries accused of genocide or supporting terrorism will not receive funds without explicit Congressional authorization.
Extended Consultation Period: Congress will have more time (180 days instead of 90) to consult on fund allocations.
Status:
Expired
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