United States 117th Congress Status: In Committee 1 D cosponsors

HR 8484 — Aligning SEC Regulations for the World Bank’s International Development Association Act

Last action — Referred to the House Committee on Financial Services.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Aligning SEC Regulations for the World Bank's International Development Association Act This bill exempts from securities regulations any securities issued by the International Development Association of the World Bank. The association provides loans and grants to developing countries.

Bill Text

How this bill changes current law

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Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill provides an exemption from securities laws for securities issued by the International Development Association (IDA), equating them to those of other multilateral development banks.

  • 22 U.S.C. 284

    SEC. 32. EXEMPTION FROM SECURITIES LAWS; REPORTS REQUIRED. (a) Exemption From Securities Laws; Reports to Securities and Exchange Commission.--Any securities issued by the Association (including any guaranty by the Association, whether or not limited in scope) and any securities guaranteed by the Association as to both principal and interest shall be deemed to be exempted securities within the meaning of section 3(a)(2) of the Securities Act of 1933 (15 U.S.C. 77c(a)(2)) and section 3(a)(12) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(12)). The Association shall file with the Securities and Exchange Commission such annual and other reports with regard to such securities as the Commission shall determine to be appropriate in view of the special character of the Association and its operations and necessary in the public interest or for the protection of investors. (b) Authority of Securities and Exchange Commission To Suspend Exemption; Reports to Congress.--The Securities and Exchange Commission, acting in consultation with the National Advisory Council on International Monetary and Financial Problems, is authorized to suspend the provisions of subsection (a) of this section at any time as to any or all securities issued or guaranteed by the Association during the period of such suspension. The Commission shall include in its annual reports to the Congress such information as it shall deem advisable with regard to the operations and effect of this section.

    This adds a new section that exempts securities of the IDA from securities laws and imposes reporting requirements.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Financial Services.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 8484 do?
Aligning SEC Regulations for the World Bank's International Development Association Act This bill exempts from securities regulations any securities issued by the International Development Association of the World Bank. The association provides loans and grants to developing countries.
Who sponsors HR 8484?
HR 8484 is sponsored by Waters, Maxine (Democratic).
What is the current status of HR 8484?
This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 8484?
Track HR 8484 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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