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![handle is hein.congrecreports/crptxafut0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 118-289
ALIGNING SEC REGULATIONS FOR THE WORLD BANK'S
INTERNATIONAL DEVELOPMENT ASSOCIATION ACT
DECEMBER 1, 2023.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. MCHENRY, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 1161]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 1161) to accord securities issued by the International De-
velopment Association the same exemption from the securities laws
that applies to the securities of other multilateral development
banks in which the United States is a member, having considered
the same, reports favorably thereon with an amendment and rec-
ommends that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Aligning SEC Regulations for the World Bank's
International Development Association Act.
SEC. 2. EXEMPTION OF SECURITIES OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION
FROM THE SECURITIES LAWS.
(a) IN GENERAL.-The International Development Association Act (22 U.S.C. 284-
284cc) is amended by adding at the end the following:
SEC. 32. EXEMPTION OF SECURITIES OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION
FROM THE SECURITIES LAWS.
(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 Com-
mission such annual and other reports with regard to such securities as the Com-
mission shall determine to be appropriate in view of the special character of the As-
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