Prohibition on exchange of Special Drawing Rights held by Chinese Communist Party

(a) In general The Secretary of the Treasury may not engage in any transaction involving the exchange of Special Drawing Rights issued by the International Monetary Fund and held by the Chinese Communist Party. (b) Advocacy The Secretary shall— (1) vigorously advocate that the government of each member country of the International Monetary Fund, to the extent that the member country issues a freely usable currency, prohibit transactions involving the exchange of Special Drawing Rights held by the Chinese Communist Party; and (2) direct the United States Executive Director of the International Monetary Fund to use the voice and vote of the United States to oppose any allocation of Special Drawing Rights to the Chinese Communist Party. (c) Waiver The President may waive the application of this section if the President— (1) determines that a waiver is in the national interest of the United States; and (2) submits to Congress a notice of and justification for such waiver. (d) Termination This section shall terminate on the earlier of— (1) the date that is 5 years after the date of the enactment of this Act; and (2) the date on which the President determines and reports to Congress that termination of this section is in the national interest of the United States.