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Bills
House Bill 510
118th Congress(2023-2024)
Chinese Currency Accountability Act of 2023
Active
Active
Passed House on Sep 9, 2024
Overview
Text
Introduced
Jan 25, 2023
Latest Action
Sep 10, 2024
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
510
Congress
118
Policy Area
Foreign Trade and International Finance
Foreign Trade and International Finance
Primary focus of measure is competitiveness, trade barriers and adjustment assistance; foreign loans and international monetary system; international banking; trade agreements and negotiations; customs enforcement, tariffs, and trade restrictions; foreign investment. Measures concerning border enforcement may fall under Immigration policy area.
Sponsorship by Party
Republican
Warren Davidson
Ohio
Democrat
Susie Lee
Nevada
Republican
Michael Lawler
New York
House Votes (1)
Senate Votes (0)
checkPassed on September 9, 2024
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
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)
Summary

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 (1) China is in compliance with all general obligations of members of the IMF, (2) China has not been found to have manipulated its currency in the preceding 12 months, and (3) China is implementing policies and practices necessary to ensure that the renminbi is freely usable.

Text (4)
Referred in Senate
September 10, 2024
Engrossed in House
September 9, 2024
Reported in House
December 1, 2023
Introduced in House
January 25, 2023
Related Bills (2)
Feb 29, 2024
Introduced in House
50
Sponsorship
House Bill 7476
Countering Communist China Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Jun 08, 2023
Introduced in Senate
7
Sponsorship
Senate Bill 1919
Chinese Currency Accountability Act of 2023
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (13)
09/10/2024
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
09/09/2024
Motion to reconsider laid on the table Agreed to without objection.
09/09/2024
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5041)
09/09/2024
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)
09/09/2024
DEBATE - The House proceeded with forty minutes of debate on H.R. 510.
09/09/2024
Considered under suspension of the rules. (consideration: CR H5041-5042)
09/09/2024
Mrs. Kim (CA) moved to suspend the rules and pass the bill, as amended.
12/01/2023
Placed on the Union Calendar, Calendar No. 238.
12/01/2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-294.
02/28/2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 40 - 0.
02/28/2023
Committee Consideration and Mark-up Session Held.
01/25/2023
Referred to the House Committee on Financial Services.
01/25/2023
Introduced in House
Graphics
H.R.510 118 Chinese Currency Accountability Act of 2023
How Graphics are created
Public Record
Record Updated
Nov 8, 2024 7:26:59 PM
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