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Full Text of this Amendment

SA 479. Mr. DeMINT (for himself, Mr. Vitter, Mr. Hatch, and Mr. Cornyn) submitted an amendment intended to be proposed by him to the bill S. 782, to amend the Public Works and Economic Development Act of 1965 to reauthorize that Act, and for other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:
SEC. __. REPEAL OF AUTHORITY TO PROVIDE CERTAIN LOANS TO THE INTERNATIONAL MONETARY FUND, THE INCREASE IN THE UNITED STATES QUOTA, AND CERTAIN OTHER AUTHORITIES, AND RESCISSION OF RELATED APPROPRIATED AMOUNTS.
(a) Repeal of Authorities.--The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended--
(1) in section 17--
(A) in subsection (a)--
(i) by striking "(1) In order" and inserting "In order"; and
(ii) by striking paragraphs (2), (3), and (4); and
(B) in subsection (b)--
(i) by striking "(1) For the purpose" and inserting "For the purpose";
(ii) by striking "subsection (a)(1)" and inserting "subsection (a)"; and
(iii) by striking paragraph (2);
(2) by striking sections 64, 65, 66, and 67; and
(3) by redesignating section 68 as section 64.
(b) Rescission of Amounts.--
(1) IN GENERAL.--The unobligated balance of the amounts specified in paragraph (2)--
(A) is rescinded;
(B) shall be deposited in the General Fund of the Treasury to be dedicated for the sole purpose of deficit reduction; and
(C) may not be used as an offset for other spending increases or revenue reductions.
(2) AMOUNTS SPECIFIED.--The amounts specified in this paragraph are the amounts appropriated under the heading "United States Quota, International Monetary Fund", and under the heading "Loans to International Monetary Fund", under the heading "INTERNATIONAL MONETARY PROGRAMS" under the heading "INTERNATIONAL ASSISTANCE PROGRAMS" in title XIV of the Supplemental Appropriations Act, 2009 (Public Law 111-32; 123 Stat. 1916).


(As printed in the Congressional Record for the Senate on Jun 16, 2011.)