{"format":1,"id":"117-hr-4111","congress":117,"number":"H.R. 4111","kind":"bill","group":"bills","title":"Sovereign Debt Contract Capacity Act","title_source":"Short Title(s) as Passed House","official_title":"To require the Secretary of the Treasury to direct the United States Executive Director at the International Monetary Fund to advocate that the Fund provide technical assistance to Fund members seeking to enhance their capacity to evaluate the legal and financial terms of sovereign debt contracts, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To require the Secretary of the Treasury to direct the United States Executive Director at the International Monetary Fund to advocate that the Fund provide technical assistance to Fund members seeking to enhance their capacity to evaluate the legal and financial terms of sovereign debt contracts, and for other purposes."},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"Sovereign Debt Contract Capacity Act"},{"type":"Display Title","title":"Sovereign Debt Contract Capacity Act"},{"type":"Short Title(s) as Passed House","title":"Sovereign Debt Contract Capacity Act"},{"type":"Short Title(s) as Introduced","title":"Sovereign Debt Contract Capacity Act"}],"outcome":"passed_house","law_number":null,"introduced":"2021-06-23","chambers":{"house":{"status":"roll_call","date":"2021-10-25","vote":{"id":"117-2021-h332","question":"On Motion to Suspend the Rules and Pass","title":"Sovereign Debt Contract Capacity Act","result":"Passed","yea":391,"nay":29,"present":0,"not_voting":11,"source":"https://clerk.house.gov/evs/2021/roll332.xml"}},"senate":{"status":"na","date":null,"vote":null}},"president":{"status":"na","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Foreign Relations.","date":"2021-10-26"},"nominees":null,"amendments":[],"other_votes":[],"crs_summary":{"date":"2021-10-25","stage":"Passed House","blocks":[{"k":"h","t":"Sovereign Debt Contract Capacity Act"},{"k":"p","t":"This bill requires the Department of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund to advocate for the fund to promote international standards and best practices with respect to sovereign debt contracts and to provide technical assistance to fund members. Such assistance should focus on lower middle-income countries in order to enhance their capacity to evaluate the legal and financial terms of sovereign debt contracts with private sector creditors."}],"words":79},"summary":{"main_subject":{"text":"Directs the Secretary of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund to advocate that the Fund provide technical assistance to members seeking to evaluate the terms of sovereign debt contracts, and requires reports to Congress.","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh#H6F426C7EB3B243C29E8BC16E59DD07E1"}]},"core_areas":["International Monetary Fund technical assistance on sovereign debt contracts","Treasury reporting to congressional committees"],"what_it_does":[{"text":"Adds a new section 1630 to Title XVI of the International Financial Institutions Act requiring the Secretary of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund to use the voice and vote of the United States on this subject.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh#H6F426C7EB3B243C29E8BC16E59DD07E1"}},{"text":"Has the Executive Director advocate that the Fund promote international standards and best practices with respect to sovereign debt contracts.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh#H6F426C7EB3B243C29E8BC16E59DD07E1"}},{"text":"Has the Executive Director advocate that the Fund provide technical assistance to members, in particular lower middle-income countries and countries eligible for International Development Association assistance, to evaluate the legal and financial terms of sovereign debt contracts with multilateral, bilateral, and private sector creditors.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh#H6F426C7EB3B243C29E8BC16E59DD07E1"}},{"text":"Requires the Secretary of the Treasury to report within 1 year after enactment, and annually for the next 4 years, to the House Committee on Financial Services and the Senate Committee on Foreign Relations.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh#H6F426C7EB3B243C29E8BC16E59DD07E1"}},{"text":"Requires each report to cover the Fund's technical assistance activities in the most recent fiscal year, including its ability to meet demand, and the efficacy of U.S. efforts toward this goal and any further actions that should be taken.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh#H6F426C7EB3B243C29E8BC16E59DD07E1"}},{"text":"Provides that the amendment to the International Financial Institutions Act has no force or effect after the 5-year period beginning on the date of enactment.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh#H6F426C7EB3B243C29E8BC16E59DD07E1"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2021-10-25","rule":"passed","href":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-10-15","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/117th-congress/house-bill/4111","text":"https://www.congress.gov/bill/117th-congress/house-bill/4111/text"},"card":{"image":"card/item/117-hr-4111.png","v":"04e87aa305a7","alt":"Votes on Record. H.R. 4111, 117th Congress: Sovereign Debt Contract Capacity Act. House: 391 Yea, 29 Nay. Outcome: Passed House, 25 Oct 2021."}}