summary
Introduced
01/25/2023
01/25/2023
In Committee
02/28/2023
02/28/2023
Crossed Over
09/10/2024
09/10/2024
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
AN ACT To require the United States Governor of, and the United States Executive Director at, the International Monetary Fund to oppose an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the Fund, and for other purposes.
AI Summary
This bill, the Chinese Currency Accountability Act of 2023, requires the U.S. Governor and Executive Director at the International Monetary Fund (IMF) to oppose any increase in the weight of the Chinese renminbi (the official currency of China) in the Special Drawing Rights (SDR) basket of the IMF. This opposition can only be overridden if the Secretary of the Treasury certifies that China is complying with its obligations under the IMF's Articles of Agreement, has not been found to have manipulated its currency in the past 12 months, and adheres to the rules and principles of the Paris Club and the OECD Arrangement on Officially Supported Export Credits. The bill's provisions will sunset (expire) 10 years after enactment.
Committee Categories
Business and Industry, Government Affairs
Sponsors (3)
Last Action
Received in the Senate and Read twice and referred to the Committee on Foreign Relations. (on 09/10/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/510/all-info |
| BillText | https://www.congress.gov/118/bills/hr510/BILLS-118hr510eh.pdf |
| BillText | https://www.congress.gov/118/bills/hr510/BILLS-118hr510rh.pdf |
| BillText | https://www.congress.gov/118/bills/hr510/BILLS-118hr510ih.pdf |
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