; or (2) the termination of the requirement by a date certain. (c) Definitions In this section: (1) International financial institution The term international financial institution has the meaning given the term in section 1701(c)(2) of the International Financial Institutions Act. (2) Secretary The term Secretary means the Secretary of the Treasury. (d) Report described Not less frequently than semiannually, the Secretary shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate a written report that includes the following: (1) A list of each waiver issued under subsection (a) since the later of the date of the enactment of this section or the date the then most recent report was submitted under this subsection. (2) A description of any project, policy, or other matter to which the waiver involved applied. (3) A detailed explanation of the reasons for the waiver involved. (4) A determination that the waiver involved allowed the Secretary to more effectively advance United States interests at the international financial institution involved. (e) No retroactive application A waiver issued under this section shall not apply retroactively. (f) Recommendations by the Secretary Within 12 months after the date of the enactment of this Act, the Secretary shall submit to the committees specified in subsection (d) any recommendations to revise or sunset a statutory requirement that directs the United States Executive Director at an international financial institution with respect to the use of the voice and vote of the United States. The recommendations should be aimed at achieving the following objectives with regard to the international financial institution: (1) Strengthening United States leadership in the design, execution, and evaluation of activities. (2) Permitting the Secretary to more effectively support policies, projects, and other initiatives that advance the national interest of the United States. (3) Facilitating multilateral