H.R.4818 - International Monetary Stability Act of 2000106th Congress (1999-2000)
||Rep. Ryan, Paul [R-WI-1] (Introduced 07/10/2000)
||House - Banking and Financial Services
||07/19/2000 Subcommittee Consideration and Mark-up Session Held by the Subcommittee on Domestic and International Monetary Policy; Motion to Report Measure Defeated by 10 Ayes to 11 Nays, Prior to Referral. (All Actions)
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Introduced in House (07/10/2000)
International Monetary Stability Act of 2000 - Authorizes the Secretary of the Treasury to certify a country as officially dollarized (when a country substantially or totally eliminates its domestic currency and adopts the U.S. dollar as legal tender), after consideration of whether the country has taken specified actions with respect to its currency. Directs the Secretary, upon certification of a country, to pay to such country, every three months, an amount equal to a specified formula. Prohibits the previously dollarized Republic of the Marshall Islands, the Federated States of Micronesia, the Republic of Palau, Panama, East Timor, the Turks and Caicos Islands, and the British Virgin Islands from being certified as officially dollarized or issued payments until specified conditions are met.