Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · BILL · 119th Congress · H.R. 8595 (Reported in House) — Making appropriations for national security, Department of State, and related programs for the fiscal year ending Sep... · Sec. 7029

Sec. 7029.

724 words·~3 min read·/bill/119/hr/8595/rh/section-7029·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

None of the funds appropriated under title V of this Act may be made as payment to any international financial institution while the United States executive director to such institution is compensated by the institution at a rate which, together with whatever compensation such executive director receives from the United States, is in excess of the rate provided for an individual occupying a position at level IV of the Executive Schedule under section 5315 of title 5, United States Code, or while any alternate United States executive director to such institution is compensated by the institution at a rate in excess of the rate provided for an individual occupying a position at level V of the Executive Schedule under section 5316 of title 5, United States Code.
The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice and vote of the United States to promote human rights due diligence and risk management, as appropriate, in connection with any loan, grant, policy, or strategy of such institution. The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice of the United States to include in loan, grant, and other financing agreements improvements in borrowing countries’ financial management and judicial capacity to investigate, prosecute, and punish fraud and corruption.
The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice of the United States to encourage such institution to collect, verify, and publish, to the maximum extent practicable, beneficial ownership information (excluding proprietary information) for any corporation or limited liability company, other than a publicly listed company, that receives funds from any such financial institution. None of the funds appropriated by this Act may be made available to support a new capital increase for an international financial institution unless the President submits a budget request for such increase to Congress and the Secretary of the Treasury concurrent with such request determines and reports to the Committees on Appropriations that— the capital increase sets such institution on a path to meet its regional or global objectives, as appropriate, including its overarching strategic framework and vision for its role in development finance, and such increase includes agreement on internal reforms and policy measures necessary to enhance the efficiency and effectiveness of the institution; and the capital increase does not increase the voting power of the People’s Republic of China in such institution relative to that of the United States.
The Secretary of the Treasury shall instruct the United States executive director at each multilateral development bank to use the voice and vote of the United States to oppose any loan, extension of financial assistance, or technical assistance by such bank to the People’s Republic of China. The Secretary of the Treasury shall ensure that no United States contribution to a financial intermediary fund overseen by the Department of the Treasury may be used to provide any loan, extension of financial assistance, or technical assistance to the People’s Republic of China or to any country or region subject to comprehensive sanctions by the United States.
Not later than 120 days after the date of enactment of this Act, the Secretary of the Treasury shall submit a report to the Committees on Appropriations detailing any funding provided in the prior calendar year by a financial intermediary fund overseen by the Department of the Treasury to the People's Republic of China or any country or region subject to comprehensive sanctions by the United States. The Secretary of the Treasury shall instruct the Executive Director at the Inter-American Development Bank to use the voice, vote and influence of the United States to support the America First policy agenda at such institution, by eliminating the Bank’s green and climate finance targets to focus on affordable and reliable energy to better support economic growth and poverty reduction, and securing agreement on implementation of procurement reforms that result in strengthened transparency and increased competition that benefits United States businesses:
Provided , That prior to the obligation of funds made available by this Act under the heading Contribution to the Inter-American Development Bank the Secretary of the Treasury shall certify and report to the Committees on Appropriations that such targets are no longer in use.
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.