New York supports international debt relief initiatives for developing countries.

This bill amends the debtor and creditor law to support New York's policy of backing international debt relief initiatives for developing countries. It defines terms like "international initiative," "eligible claim," and "eligible state." It specifies that eligible claims are recoverable only if they meet burden-sharing standards, robust disclosure standards, and are recoverable by the U.S. government under the applicable initiative. The bill takes effect immediately.

New York supports international debt relief initiatives for developing countries.

This bill amends the debtor and creditor law to support New York's policy of backing international debt relief initiatives for developing countries. It defines terms like "international initiative," "eligible claim," and "eligible state." It specifies that eligible claims are recoverable only if they meet burden-sharing standards, robust disclosure standards, and are recoverable by the U.S. government under the applicable initiative. The bill takes effect immediately.