119th Congress (2025-2026)

HR 1764

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

In Second Chamber

Jurisdiction

US Congress

Session

119th Congress (2025-2026)

Official source

Chamber

House

Session

119th Congress (2025-2026)

Jurisdiction

US Congress

Bill overview

This bill aims to align U.S. securities regulations with those applied to other multilateral development banks. Specifically, it proposes an exemption from securities laws for securities issued by the International Development Association (IDA) of the World Bank. However, this exemption can be suspended by the Securities and Exchange Commission, and it’s conditional – it won’t take effect if the Treasury Secretary determines that the IDA is providing financial assistance to a country that has repeatedly supported international terrorism.

Key provisions

Grants an exemption from U.S. securities laws to securities issued by the International Development Association (IDA).
Requires the IDA to file annual reports with the Securities and Exchange Commission.
Authorizes the Securities and Exchange Commission to suspend the exemption.
Suspension of the exemption is subject to consultation with the National Advisory Council on International Monetary and Financial Problems.
The exemption is contingent on the Treasury Secretary not reporting that the IDA is supporting a country that has repeatedly supported international terrorism.
The amendment takes effect 30 days after enactment.
The amendment will not take effect if the Treasury Secretary reports that the IDA is providing financial assistance to a country that has repeatedly provided support for acts of international terrorism.

Who is affected

International Development Association (IDA)
Securities and Exchange Commission

Positions across the country

No public positions recorded for this legislation.

Arguments in favor

Reasons to support this legislation.

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Arguments opposed

Reasons to oppose this legislation.

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Legislative history

2025-03-03House

Referred to the House Committee on Financial Services.

2025-03-03

Introduced in House

2025-03-03

Introduced in House

2025-03-05House

Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.

Passage without roll call

The official record shows passage by unanimous consent or voice vote where no roll call was taken. No member-level tally is available for these steps, and the district map does not apply.

7/21/2025HouseVoice vote
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3513)
No roll-call vote on record for this action.
7/21/2025Voice vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3513)
No roll-call vote on record for this action.

Floor votes and chamber actions

Recorded roll calls list how each member voted. Unanimous consent or voice vote appears in the official action history without a roll call; no member-level tally is available for those steps.

Passage without roll call

7/21/2025HouseVoice vote
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3513)
No roll-call vote on record for this action.
7/21/2025Voice vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3513)
No roll-call vote on record for this action.

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Mar 3, 2025XMLView source

119th CONGRESS — 1st Session

H. R. 1764

IN THE HOUSE OF REPRESENTATIVES

A BILL

To accord securities issued by the International Development 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.

1.Short title

This Act may be cited as the

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

2.Exemption of securities of the International Development Association from the securities laws

(a)In generalThe International Development Association Act (22 U.S.C. 284–284cc) is amended by adding at the end the following:

32.Exemption of securities of the International Development Association from the securities laws

(a)Exemption from securities laws; reports to Securities and Exchange CommissionAny 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.

(b)Effective date

(1)In general

The amendment made by subsection (a) shall take effect 30 days after the date of enactment of this Act.

(2)ExceptionNotwithstanding paragraph (1), the amendment made by subsection (a) shall not take effect if, before the effective date described under paragraph (1), the Secretary of the Treasury reports to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate that the International Development Association is providing financial assistance to any country the government of which the Secretary of State has determined, for purposes of section 6(j) of the Export Administration Act of 1979, section 620A of the Foreign Assistance Act of 1961, or section 40 of the Arms Export Control Act, to be a government that has repeatedly provided support for acts of international terrorism.

HR 1764

Bill overview

Key provisions

Who is affected

Sponsors

Primary sponsor

Positions across the country

Arguments in favor

Arguments opposed

Passage without roll call

Floor votes and chamber actions

Passage without roll call

Bill text

Notable changes

Positions across the country

Passage without roll call

Floor votes and chamber actions

Passage without roll call