H.R. 2612 (97th): African Development Bank Act

Introduced:
Mar 18, 1981 (97th Congress, 1981–1982)
Status:
Died (Referred to Committee)
See Instead:

S. 786 (same title)
Passed Senate — Apr 29, 1981

H.R. 3439 (same title)
Reported by Committee — May 06, 1981

Sponsor
Jerry Patterson
Representative for California's 38th congressional district
Party
Democrat
Related Bills
S. 786 (identical)

Passed Senate
Last Action: Apr 29, 1981

H.R. 3439 (Related)
African Development Bank Act

Reported by Committee
Last Action: May 06, 1981

 
Status

This bill was introduced on March 18, 1981, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 18, 1981
Referred to Committee Mar 18, 1981
 
Full Title

A bill to provide for continuing United States participation in the International Development Association, to provide for United States participation in the African Development Bank, and for other purposes.

Summary

No summaries available.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


3/18/1981--Introduced.
Title I - International Development Association
Amends the International Development Association Act to authorize the U.S. Governor to pay a specified sum as the U.S. contribution to the sixth replenishment of the Resources of the Association, subject to obtaining the necessary appropriations.
Title II - African Development Bank
African Development Bank Act - Authorizes the President to accept membership for the United States in the African Development Bank. Provides for the appointment of a Governor and an Alternate Governor of such Bank. Makes U.S. participation in such Bank subject to the National Advisory Council on International Monetary and Financial Problems. Prohibits unauthorized:
(1) subscriptions to additional shares in such Bank;
(2) agreements increasing U.S. obligations or modifying the purpose of such Bank; or
(3) financing for such Bank. Requires any Federal Reserve bank to act as the Bank's depository at the request of such Bank. Specifies the shares of such Bank to which the President is authorized to subscribe.
Sets forth venue and jurisdiction provisions for such Bank. Exempts such Bank's obligations from specified limitations on underwriting investment securities and for purposes of the Securities Act of 1933 and the Securities Exchange Act of 1934.
Requires such Bank to file reports as determined appropriate by the Securities and Exchange Commission. Authorizes the Commission to suspend the exemptions from the Securities laws.
Directs such Bank to carry out U.S. policies concerning human rights and the development of light capital technologies.
Makes U.S. citizen representatives to such Bank eligible for civil service benefits.
Title III - International Bank for Reconstruction and Development and Asian Development Bank
Amends the Bretton Woods Agreements Act and the Asian Development Bank Act to provide that any subscription to additional shares of such Banks shall only be effective to the extent as provided in advance in appropriation Acts (presently, may be made only after the necessary amount has been appropriated).
Title IV - Inter-American Development Bank and Asian Development Bank
Amends the Inter-American Development Bank Act to authorize the U.S. Governor to contribute a specified sum to the Fund for Special Operations subject to obtaining the necessary appropriations.
Authorizes specified sums to be appropriated for the U.S. subscription to the Bank's capital stock and for the U.S. contribution to the Fund for Special Operations. Amends the Asian Development Bank Act to authorize the U.S. Governor to contribute a specified sum to the Asian Development Fund subject to obtaining the necessary appropriations.
Authorizes a specified sum to be appropriated to pay such contribution.
Title V - Effective Date and Availability of Funds
Stipulates that authorized funds are not available for obligation prior to October 1, 1981.

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.


No summary available.

House Democratic Caucus Summary

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