HR 510 118th Congress House Foreign Trade and International Finance Asia China Congressional oversight Currency International monetary system and foreign exchange

Chinese Currency Accountability Act of 2023

Introduced: January 25, 2023 Introduced by: Davidson, Warren Republican · Ohio See on congress.gov

Everywhere this bill has been 13 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 10, 2024

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Sep 9, 2024

Motion to reconsider laid on the table Agreed to without objection.

Sep 9, 2024

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5041)

Sep 9, 2024

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5041)

Sep 9, 2024

DEBATE - The House proceeded with forty minutes of debate on H.R. 510.

Sep 9, 2024

Considered under suspension of the rules. (consideration: CR H5041-5042)

Sep 9, 2024

Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.

Dec 1, 2023

Placed on the Union Calendar, Calendar No. 238.

Dec 1, 2023

Reported (Amended) by the Committee on Financial Services. H. Rept. 118-294.

Feb 28, 2023

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 0.

Feb 28, 2023

Committee Consideration and Mark-up Session Held.

Jan 25, 2023

Referred to the House Committee on Financial Services.

Jan 25, 2023

Introduced in House

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Plain-English summary Congressional Research Service

Chinese Currency Accountability Act of 2023

This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are a currency support tool available to members of the International Monetary Fund (IMF).

Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that China is in compliance with certain standards and international agreements, including that (1) China is in compliance with all general obligations of members of the IMF, and (2) China has not been found to have manipulated its currency in the preceding 12 months.

What's happening now September 10, 2024

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Related & companion bills 2

Bill text 4 versions

Engrossed in House Formatted Text PDF Formatted XML
Introduced in House Formatted Text PDF Formatted XML
Referred in Senate Formatted Text PDF Formatted XML
Reported in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 2

Financial Services Committee
House of Representatives
Foreign Relations Committee
Senate

Cosponsors 2

Lee, Susie

Nevada · Mar 9, 2023

Lawler, Michael

New York · Feb 27, 2023

Cite this page click to expand

APA

U.S. Congress. (2026). H.R. 510: Chinese Currency Accountability Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-HR-510/

MLA

"H.R. 510: Chinese Currency Accountability Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-510/.

Bluebook (legal)

H.R. 510, 118th Cong. (2026), https://openamerica.io/bill/118-HR-510/.

Markdown link

[H.R. 510: Chinese Currency Accountability Act of 2023](https://openamerica.io/bill/118-HR-510/)