REPORTS TO THE FINANCE AND WAYS AND MEANS COMMITTEES.

SEC. 404. REPORTS TO THE FINANCE AND WAYS AND MEANS COMMITTEES. (a) Reports Regarding Initiatives To Update the International Monetary Fund.—Section 607 of the Foreign Operations, Export Financing, and Related Appropriations Act, 1999 (as contained in section 101(d) of division A of the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999) (Public Law 105–277; 112 Stat. 2681-224), relating to international financial programs and reform, is amended— (1) by inserting “Finance,” after “Foreign Relations,”; and (2) by inserting “, Ways and Means,” before “and Banking and Financial Services”. 114 STAT. 292 (b) Reports on Financial Stabilization Programs.—Section 1704(b) of the International Financial Institutions Act (22 U.S.C. 262r-3(b)) is amended to read as follows: “(b) Timing.—Not later than March 15, 1999, and semiannually thereafter, the Secretary of the Treasury shall submit to the Committees on Banking and Financial Services, Ways and Means, and International Relations of the House of Representatives and the Committees on Finance, Foreign Relations, and Banking, Housing, and Urban Affairs of the Senate a report on the matters described in subsection (a).”. (c) Annual Report on the State of the International Financial System, IMF Reform, and Compliance With IMF agreements.—Section 1705(a) of the International Financial Institutions Act (22 U.S.C. 262r-4(a)) is amended by striking “Committee on Banking and Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate” and inserting “Committees on Banking and Financial Services and on Ways and Means of the House of Representatives and the Committees on Finance and on Foreign Relations of the Senate”. (d) Audits of the IMF.—Section 1706(a) of the International Financial Institutions Act (22 U.S.C. 262r-5(a)) is amended by striking “Committee on Banking and Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate” and inserting “Committees on Banking and Financial Services and on Ways and Means of the House of Representatives and the Committees on Finance and on Foreign Relations of the Senate”. (e) Report on Protection of Borders Against Drug Traffic.—Section 629 of the Treasury and General Government Appropriations Act, 1999 (as contained in section 101(h) of division A of the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999) (Public Law 105–277; 112 Stat. 2681-522), relating to general provisions, is amended by adding at the end the following new paragraph: “(3) For purposes of paragraph (1), the term ‘appropriate congressional committees’ includes the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives”.