Ukraine Comprehensive Debt Payment Relief Act of 2022
This bill requires the Department of the Treasury to make efforts to secure debt relief for Ukraine.
Specifically, Treasury must order U.S. representatives to international financial institutions to advocate for such institutions to (1) immediately suspend all debt service payments owed by Ukraine to the respective institution, (2) provide concessional financial assistance to Ukraine, and (3) provide economic support for refugees from Ukraine (including refugees of African descent) and the countries receiving such refugees.
Treasury must also immediately pursue, through bilateral and multilateral frameworks, comprehensive debt payment relief for Ukraine from other governments and commercial creditor groups.
[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7081 Introduced in House (IH)]
<DOC>
117th CONGRESS
2d Session
H. R. 7081
To seek immediate bilateral, multilateral, and commercial debt service
payment relief for Ukraine.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 15, 2022
Mr. Garcia of Illinois (for himself, Mr. Himes, Mr. David Scott of
Georgia, Ms. Ocasio-Cortez, and Mr. Quigley) introduced the following
bill; which was referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To seek immediate bilateral, multilateral, and commercial debt service
payment relief for Ukraine.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Ukraine Comprehensive Debt Payment
Relief Act''.
SEC. 2. SUSPENSION OF MULTILATERAL DEBT PAYMENTS OF UKRAINE.
(a) United States Position in the International Financial
Institutions.--The Secretary of the Treasury shall instruct the United
States Executive Director at each international financial institution
(as defined in section 1701(c)(2) of the International Financial
Institutions Act) to use the voice, vote, and influence of the United
States to advocate that the respective institution immediately suspend
all debt service payments owed to the institution by Ukraine.
(b) Official Bilateral and Commercial Debt Service Payment
Relief.--The Secretary of the Treasury, working in coordination with
the Secretary of State, shall commence immediate efforts with other
governments and commercial creditor groups, through the Paris Club of
Official Creditors and other bilateral and multilateral frameworks,
both formal and informal, to pursue comprehensive debt payment relief
for Ukraine.
(c) Multilateral Financial Support for Ukraine.--The Secretary of
the Treasury shall direct the United States Executive Director at each
international financial institution (as defined in section 1701(c)(2)
of the International Financial Institutions Act) to use the voice and
vote of the United States to support, to the maximum extent
practicable, the provision of concessional financial assistance for
Ukraine.
SEC. 3. REPORT TO THE CONGRESS.
Not later than December 31 of each year, the President shall--
(1) submit to the Committees on Financial Services, on
Appropriations, and on Foreign Affairs of the House of
Representatives and the Committees on Foreign Relations and on
Appropriations of the Senate, a report on the activities
undertaken under this Act; and
(2) make public a copy of the report.
SEC. 4. WAIVER AND TERMINATION.
(a) Waiver.--The Secretary of the Treasury may waive the
requirements of section 2 on notifying the Congress in writing that the
waiver is important to the national interest of the United States.
(b) Termination.--The provisions of this Act shall have no force or
effect on or after the date that is 7 years after the date of the
enactment of this Act.
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Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute by Voice Vote.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-317.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-317.
Placed on the Union Calendar, Calendar No. 237.
Mr. Garcia (IL) moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H4750-4752)
DEBATE - The House proceeded with forty minutes of debate on H.R. 7081.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
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Considered as unfinished business. (consideration: CR H4838-4839)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 362 - 56 (Roll no. 160).
Roll Call #160 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 362 - 56 (Roll no. 160). (text: 05/10/2022 CR H4750-4751)
Roll Call #160 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.