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22 U.S.C. § 262k–1 — Transparency of budgets

submitted 30 years ago by Pub. L. 104-208 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 142 words · no verdicts yet

in plain englishAI-generated · not legal advice

Starting in 1999, Treasury must instruct U.S. representatives to oppose most loans to countries that hide military spending. This applies unless the loan addresses basic human needs. The law defines which institutions count as "international financial institutions."

(a) Limitation Starting three years after September 30, 1996, the Secretary of the Treasury must instruct the U.S. Executive Director of each international financial institution to use America's voice and vote to oppose any loan or other use of that institution's funds — except loans that address basic human needs — for the government of any country that the Secretary determines: (1) Does not have a working system for reporting to civilian authorities audits of the money the armed forces and security forces receive and spend; or (2) Has not given the institution audit-process information the institution requested. (b) "International financial institution" defined In this section, "international financial institution" includes the institutions listed in section 532(b) of this Act.
the actual law source: uscode.house.gov ↗public domain
(a) Limitation

Beginning three years after September 30, 1996, 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 oppose any loan or other utilization of the funds of their respective institution, other than to address basic human needs, for the government of any country which the Secretary of the Treasury determines—

(1)

does not have in place a functioning system for reporting to civilian authorities audits of receipts and expenditures that fund activities of the armed forces and security forces;

(2)

has not provided to the institution information about the audit process requested by the institution.

(b) “International financial institution” defined

For purposes of this section, the term “international financial institution” shall include the institutions identified in section 532(b) of this Act.

Source credit: (Pub. L. 104–208, div. A, title I, § 101(c) [title V, § 576], Sept. 30, 1996, 110 Stat. 3009–121, 3009–168; Pub. L. 105–118, title V, § 572, Nov. 26, 1997, 111 Stat. 2430.)

history & why it existsrecord from the source credit
  • 1996Enacted · Pub. L. 104-208 · 110 Stat. 3009
  • 1997Amended · Pub. L. 105-118 · 111 Stat. 2430

A history note hasn’t been published yet. The record shows enactment by Pub. L. 104-208 on 1996-09-30.

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