3.0.0 184 2023-01-11T13:20:47Z 2023-01-11T13:20:47Z Senate S S 2011-01-25 112 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2011-01-26T00:27:01Z A bill to prohibit the provision of Federal funds to State and local governments for payment of obligations, to prohibit the Board of Governors of the Federal Reserve System from financially assisting State and local governments, and for other purposes. 112 251 S 2011-02-01 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2011-01-25 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2011-01-25 Introduced in Senate IntroReferral 10000 9 Library of Congress E000194 Sen. Ensign, John [R-NV] JOHN ENSIGN R NV N Economics and Public Finance Federal Reserve System Government lending and loan guarantees State and local finance Economics and Public Finance 00 2011-01-25 Introduced in Senate 2011-03-24T15:29:47Z Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to or provide direct or indirect grants-and-aid to, any state, municipal, local, or county government which a nationally recognized statistical rating organization has determined has defaulted on its obligations or is likely to default, without such federal assistance.

Prohibits the Secretary of the Treasury from using, directly or indirectly, general fund revenues or borrowed funds to purchase or guarantee any asset or obligation of any such state, municipal, local, or county government.

Prohibits the Board of Governors of the Federal Reserve System from directly or indirectly lending against, purchasing, or guaranteeing any asset or obligation of such a state, municipal, local, or county government.

]]> A bill to prohibit taxpayer bailouts of fiscally irresponsible State and local governments. Display Title A bill to prohibit taxpayer bailouts of fiscally irresponsible State and local governments. Official Title as Introduced A bill to prohibit taxpayer bailouts of fiscally irresponsible State and local governments. Introduced in Senate IS Introduced in Senate 2011-01-25T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s184is/xml/BILLS-112s184is.xml 2011-01-25 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.