3.0.0 4496 2023-01-11T13:32:09Z 2023-01-11T13:32:09Z House HR 2016-02-08 114 [Congressional Record Volume 162, Number 22 (Monday, February 8, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SCHWEIKERT:H.R. 4496.Congress has the power to enact this legislation pursuantto the following:Article 1 Section 8 of the United States Constitution[Page H595]]]> hsju00 Judiciary Committee House Standing Referred to 2016-02-08T19:00:20Z 2016-02-08 Referred to the House Committee on the Judiciary. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2016-02-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-02-08 Introduced in House IntroReferral 1000 9 Library of Congress S001183 Rep. Schweikert, David [R-AZ-6] David Schweikert R AZ 6 N Economics and Public Finance Budget deficits and national debt Civil actions and liability Debt collection Executive agency funding and structure Economics and Public Finance 00 2016-02-08 Introduced in House 2016-06-02T21:35:55Z Funding Unpaid National Debt with Settlements Act or the FUNDS Act

This bill requires funds collected by the federal government through legal settlements, fines, and penalties (excluding penalties or interest collected by the Internal Revenue Service under the Internal Revenue Code) to be deposited in the general fund of the Treasury for deficit reduction.

(Under current law, federal agencies are permitted to spend funds from certain settlements, fines, and penalties for specified purposes.)

]]> FUNDS Act Display Title FUNDS Act Official Title as Introduced To provide that amounts collected by the Federal Government through legal settlements, fines, or financial penalties shall be deposited in the general fund of the Treasury for purposes of deficit reduction, and for other purposes. Introduced in House IH Short Titles as Introduced FUNDS Act Short Titles as Introduced Funding Unpaid National Debt with Settlements Act Introduced in House 2016-02-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4496ih/xml/BILLS-114hr4496ih.xml 2016-02-08 Referred to the House Committee on the Judiciary. 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.