Restrictions on use of appropriated funds by international financial institutions for projects that support fossil fuel

(a) Definition of international financial institution In this section, the term international financial institution means— (1) each institution described in section 1701(c) of the International Financial Institutions Act (22 U.S.C. 262r(c)); and (2) the North American Development Bank. (b) Rescission of unobligated funds (1) In general Of the unobligated balance of amounts appropriated or otherwise made available for a contribution of the United States to an international financial institution, an amount specified in paragraph (2) shall be rescinded if the institution provides support for a project that supports the production or use of fossil fuels. (2) Amount specified The amount specified in this paragraph is an amount the Secretary of the Treasury determines to be equivalent to the amount of support provided by an international financial institution described in paragraph (1) for a project that supports the production or use of fossil fuels. (c) Prohibition on use of future funds No amounts appropriated or otherwise made available for a contribution of the United States to an international financial institution may be provided to the institution unless the institution agrees to not use the amount to provide support for any project that supports the production or use of fossil fuels.