118th Congress · SENATE BILLBILL

S. 3057 — No Dollars for Dictators Act of 2023

“A bill to prohibit allocations of Special Drawing Rights at the International Monetary Fund for perpetrators of genocide and state sponsors of terrorism without congressional authorization.”

International affairs

Introduced Oct 17, 2023

Last action Oct 17, 2023

Pipeline · Bill → Law

Step 1

Introduced

Oct 17, 2023

Step 2

Referred

Oct 17, 2023

Foreign Relations

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill imposes additional restrictions on the U.S. government's authority to vote on Special Drawing Rights (SDR) allocations at the International Monetary Fund (IMF). (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.) Specifically, U.S. representatives to the IMF may not vote for SDR allocations to a country if the President finds that the country's government has (1) committed genocide in the last 10 years, or (2) repeatedly supported international terrorism.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Oct 17, 2023

Introduced in Senate

Oct 17, 2023

Read twice and referred to the Committee on Foreign Relations.