3.0.0 3002 2023-01-11T13:24:17Z 2023-01-11T13:24:17Z House H HR 2013-08-02 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BARR:H.R. 3002.Congress has the power to enact this legislation pursuantto the following:Article I, Section 9, clause 7, which states that, ``Nomoney shall be drawn from the Treasury, but in consequence ofappropriations made by the law.''[Page H5400]]]> hsba00 Financial Services Committee House Standing Referred to 2013-08-02T13:05:05Z hsgo00 Oversight and Accountability Committee House Standing Referred to 2013-08-02T13:05:00Z 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. 113 101 S 2013-01-23 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR 8/1/2013 S6153) Related bill CRS 2013-08-02 Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-08-02 Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsgo00 Oversight and Accountability Committee 2013-08-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-08-02 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N S001176 Rep. Scalise, Steve [R-LA-1] Steve Scalise R LA 1 2013-08-02 True F000456 Rep. Fleming, John [R-LA-4] John Fleming R LA 4 2013-08-02 True R000582 Rep. Roe, David P. [R-TN-1] David Roe R TN P. 1 2013-08-02 True B001274 Rep. Brooks, Mo [R-AL-5] Mo Brooks R AL 5 2013-08-02 True L000573 Rep. Labrador, Raul R. [R-ID-1] Raul Labrador R ID R. 1 2013-08-02 True S001188 Rep. Stutzman, Marlin A. [R-IN-3] Marlin Stutzman R IN A. 3 2013-08-02 True B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2013-08-02 True S000018 Rep. Salmon, Matt [R-AZ-5] MATT SALMON R AZ 5 2013-08-02 True W000814 Rep. Weber, Randy K., Sr. [R-TX-14] Randy Weber R TX K. 14 2013-08-02 True R000587 Rep. Ribble, Reid J. [R-WI-8] Reid Ribble R WI J. 8 2013-08-02 True P000599 Rep. Posey, Bill [R-FL-8] Bill Posey R FL 8 2013-08-02 True C001062 Rep. Conaway, K. Michael [R-TX-11] K. Conaway R TX Michael 11 2013-08-02 True K000220 Rep. Kingston, Jack [R-GA-1] JACK KINGSTON R GA 1 2013-09-26 False L000578 Rep. LaMalfa, Doug [R-CA-1] Doug LaMalfa R CA 1 2013-09-26 False L000576 Rep. Long, Billy [R-MO-7] Billy Long R MO 7 2013-09-26 False P000601 Rep. Palazzo, Steven M. [R-MS-4] Steven Palazzo R MS M. 4 2013-10-11 False W000815 Rep. Wenstrup, Brad R. [R-OH-2] Brad Wenstrup R OH R. 2 2013-11-12 False R000592 Rep. Rokita, Todd [R-IN-4] Todd Rokita R IN 4 2013-12-05 False Economics and Public Finance Federal Reserve System Government lending and loan guarantees State and local finance Economics and Public Finance 00 2013-08-02 Introduced in House 2016-11-08T22:42:48Z No Bailouts for State and local Governments Act - Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide direct or indirect grants-in-aid to any state, municipal, local, or county government which, on or after January 1, 2013, has filed for bankruptcy, has defaulted on its obligations, is at risk of defaulting, or is likely to default, without such federal assistance if such purchase, guarantee, extension of credit, or grant is made to assist the government in: (1) avoiding defaulting on the payment of principal or interest due on an obligation of the government, or (2) curing such a default.

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

Prohibits the Board of Governors of the Federal Reserve System from: (1) providing or extending to, or authorizing with respect to, such a state, municipal, local, or county government, or other entity with taxing authority or bonding authority, for the same purposes, any funds, loan guarantees, credits, or any other financial instrument or other authority, including bond purchases; or (2) otherwise assisting such a government entity, for the same purposes, under any Board authority.

Waives the application of this Act for federal assistance provided in response to a natural disaster.

]]> No Bailouts for State and local Governments Act Display Title No Bailouts for State and local Governments Act Official Title as Introduced 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. Introduced in House IH Short Titles as Introduced No Bailouts for State and local Governments Act Introduced in House 2013-08-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr3002ih/xml/BILLS-113hr3002ih.xml 2013-08-02 Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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.