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Russian Economic Restoration and Justice Act of 1999

Introduced: October 5, 1999 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 25, 1999
Referred to the Subcommittee on Domestic and International Monetary Policy.
Oct 18, 1999
Sponsor introductory remarks on measure. (CR H10162-10168)
Oct 5, 1999
Referred to the Committee on Banking and Financial Services, and in addition to the Committee on International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Oct 5, 1999
Introduced in House
 Plain-English summary Congressional Research Service
Russian Economic Restoration and Justice Act of 1999 - Amends the Bretton Woods Agreements Act to direct the Secretary of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund (IMF) to use the U.S. vote to urge the IMF to: (1) not provide any assistance to the Russian Federation government until there is in effect a Russian federal law that implements specified economic reforms; and (2) provide assistance to the Russian Federation only to aid in implementation of such reforms.

Establishes a Russian-American financial oversight commission to monitor the use of Western resources in Russia.

Expresses the sense of Congress that: (1) there should be established joint United States-Russian business, economics, and agricultural education programs in which Russian Federation students on completion of their studies in the United States be required to return to the Russian Federation and work for the federal or regional government in Russia; and (2) the United States and the government of the Russian Federation should create a program which would link successful U.S. business leaders with their Russian Federation counterparts so that Russian Federation companies will be better able to access a pool of resources and knowledge to assist them in their transition to successfully competing in a market-based economy.

Directs the Secretary of the Treasury to instruct the U.S. Executive Director at the IMF to use the U.S. vote to urge the IMF to create a commission, composed of prominent international financial experts, to draw up recommendations for reforming the IMF, with a view to achieving more transparency in the structures of the IMF and increasing the effectiveness of its programs while decreasing financial risk.

Establishes a pilot housing loan program (to be administered through a nonprofit corporation) in which the average Russian citizen may attain affordable home ownership.

What's happening now October 25, 1999

Referred to the Subcommittee on Domestic and International Monetary Policy.

 Committees of jurisdiction 3
 Cosponsors 4
All 4 Democratic 1 Republican 2 Independent 1