This bill, the "No Support for Terror Act," would do two main things. First, it tells the Secretary of the Treasury to instruct the United States Executive Director at the International Monetary Fund (IMF) to oppose any allocation of Special Drawing Rights (SDRs) to countries that the Secretary of State has determined are perpetrators of genocide or state sponsors of terrorism. It also directs the U.S. representative to push the IMF to adopt a rule banning such allocations. Second, it requires the Secretary of the Treasury, the Secretary of State, and the USAID Administrator to jointly review U.S. assistance given to nongovernmental and international organizations to check that such assistance is not being passed on to the Taliban, other terrorist organizations, or countries that harbor them. That review must result in a report to Congress within 90 days of the law taking effect. Within 180 days, the same agencies must require prime awardees of U.S. assistance to provide evidence that their sub-awardees comply with U.S. anti-terrorism financing laws.
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Proponents say the bill would stop allocations of IMF Special Drawing Rights to countries the Secretary of State labels as perpetrators of genocide or state sponsors of terrorism and would help prevent U.S. taxpayer-funded assistance from directly reaching the Taliban or other terrorist organizations.
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