3.0.0 94 2023-01-11T13:28:45Z 2023-01-11T13:28:45Z Senate S 2015-01-07 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2015-01-07T22:26:46Z State, Territory, and Local Government Bailout Prevention Act 114 2939 S 2016-05-17 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS No Bailouts for State, Territory, and Local Governments Act 114 5276 HR 2016-05-18 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. Related bill CRS 2015-01-07 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2015-01-07 Introduced in Senate IntroReferral 10000 9 Library of Congress V000127 Sen. Vitter, David [R-LA] David Vitter R LA N Economics and Public Finance Federal Reserve System Government lending and loan guarantees State and local finance Economics and Public Finance 00 2015-01-07 Introduced in Senate 2015-01-28T20:27:30Z 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, on or after January 26, 2011, has defaulted on its obligations, is at risk of defaulting, 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: (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, any funds, loan guarantees, credits, or any other financial instrument or other authority, including bond purchases; or (2) otherwise assisting such a government entity under any Board authority.

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

]]> 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. Display Title 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. Official Title as Introduced 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. Introduced in Senate IS Introduced in Senate 2015-01-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s94is/xml/BILLS-114s94is.xml 2015-01-07 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.