22 U.S.C. § 284ff: Exemption from securities laws; reports to Securities and Exchange Commission

Any securities issued by the International Development 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 77c(a)(2) of title 15 and section 78c(a)(12) of title 15 : Provided , That 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. Paragraph (7) [enacting this section] shall take effect 30 days after the date of the enactment of this Act [ Feb. 3, 2026 ]. Notwithstanding subparagraph (A), paragraph (7) shall not take effect if, before the effective date described in subparagraph (A), the Secretary of the Treasury reports to the Committee on Financial Services of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations 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 1754 of the National Defense Authorization Act for Fiscal Year 2019 [ 50 U.S.C. 4813 ], section 620A of the Foreign Assistance Act of 1961 [ 22 U.S.C. 2371 ], or section 40 of the Arms Export Control Act [ 22 U.S.C. 2780 ], to be a government that has repeatedly provided support for acts of international terrorism.”