GovTrack’s Bill Summary
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H.R. 4573 (111th): Haiti Debt Relief and Earthquake Recovery Act of 2010
- Introduced:
- Feb 02, 2010 (111th Congress, 2009–2010)
- Sponsor:
- Rep. Maxine Waters [D-CA35]
- Status:
- Signed by the President
- Slip Law:
- This bill became Pub.L. 111-158.
The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
4/26/2010. Amends the the International Financial Institutions Act to urge the Secretary of the Treasury to direct the U.S. Executive Director at the International Monetary Fund (IMF), the International Development Association, the Inter-American Development Bank, the International Fund for Agricultural Development, and other multilateral development institutions to use U.S. influence to seek: (1) cancellation of all remaining debts owed by Haiti to such institutions; (2) suspension of Haiti's debt service payments to such institutions; and (3) before February 1, 2015, provision of emergency, humanitarian and reconstruction assistance from such institutions to Haiti in the form of grants or other non-debt assistance. Urges the Secretary to: (1) instruct the U.S. Executive Director of the IMF to advocate the use of some of the windfall profits from the ongoing sale of certain gold to provide debt stock relief, debt service relief, and, before February 1, 2015, grants for Haiti; (2) support the creation and utilization of a multilateral trust fund for Haiti that would leverage potential U.S. contributions and promote bilateral donations for investments in Haiti's future, including efforts to combat soil degradation and promote reforestation and infrastructure investments; and (3) direct the U.S. Executive Director of the Inter-American Development Bank to seek to increase the transfer of its earnings to the Fund for Special Operations and to a trust fund or grant facility for Haiti. Urges the Secretary and the Secretary of State to use appropriate diplomatic influence to secure cancellation of all remaining bilateral, multilateral, and private creditor debt owed by Haiti.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
This summary can be found at http://www.gop.gov/bill/111/2/hr4573.
Summary
H.R. 4573 would amend the International Financial Institutions Act to direct the Treasury Secretary to instruct the U.S. Executive Directors at the International Monetary Fund (IMF), the International Bank for Reconstruction and Development, the Inter-American Development Bank, and other multilateral development institutions to: (1) cancel all debts owed by Haiti to such institutions; (2) suspend Haiti's debt payments to such institutions until the debts are canceled completely; and (3) provide additional assistance from such institutions to Haiti in grant form in order to avoid additional debt accumulation. The bill also directs the Secretary to urge other bilateral, multilateral, and private creditors to cancel all debts owed by Haiti to such creditors.
Cost
A CBO cost estimate of H.R. 4573 is not yet available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.
The bill contains the following citations to other parts of U.S. law:
United States Code
The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)
- Title 22: FOREIGN RELATIONS AND INTERCOURSE
- Chapter 7: INTERNATIONAL BUREAUS, CONGRESSES, ETC.
- Section 262p: Impact adjustment lending programs